The Bitcoin (BTC) market has recorded more losses in the past week than profits, which resulted in a net drop of 2.37%. Nevertheless, investors and markt experts remain very bullish about the potential of the Prime Minister Cryptocurrency for substantial profit in the midst of the current Bullrun.
Bitcoin ready for $ 150,000 price target – analyst
In one Quicktake Post Op Cryptoquant has recommended an analyst at username Percival Bitcoin to reach a price of $ 150,000 in the current bull’s cycle. Percival is a commentary on the current market state that is perhaps disturbing for certain investors and states that the price process from Bitcoin, characterized by sharp upward peaks and consolidation periods, resembles the structural dynamics of an adult financial active.
With regard to future price movement, the analyst refers to a Fibonacci extension of Bitcoin’s cycle low at $ 15,450 in November 2022 to consolidation at $ 48,934 in 2024. When translating this historical data into the current market, percival identifies a bitcoin price ranking Between $ 136,000 – $ 150,000 that is further supported by data from Bitcoin realized price tires – a market size that analyzes the range based on different purchase levels.
For Bitcoin for acting at $ 150,000, however, it must actively achieve a total market capitalization of $ 3 trillion. There are currently strong historical data to support this postulation. For context, Percival explains that Bitcoin realized that CAP increased by 470% in 2021 by 470% in the previous Bearish cycle. Currently, the realized cap has only grown by 111%, which suggests that more potential for market growth.
Moreover, the analyst identifies possible sources of demand to improve the expected market expansion of $ 3 trillion, one of which is the American Bitcoin spot ETFs.
In particular, these investment funds in 2024 almost $ 40 billion in the inflow were registered during their debut trade year. With the US is expected to adopt a pro-Crypto attitude in the Donald Trump administration, the institutional demand will probably also increase stronger through these ETFs. In addition, Percival includes the Bitcoin Futures market that is currently appreciated at $ 95 billion as another potential bullish -the spring spring for the expected market expansion
BTC price overview
At the time of writing, Bitcoin acts at 102,334 as a result of a fall of 1.66% during the last day. However, the Cryptocurrency flagship has risen by 7.93% on its monthly graph after a strong positive performance in January.
According to data from the forecast site CoalcodexMarket sentiments remain Bullish with the Fear & Greed Index of 76 that indicates extreme greed among investors. Looking ahead, the analysts of Coincodex predict that Bitcoin could act at $ 113, 658 and $ 132,823 in the next thirty days. In particular, they project the digital assets to have crossed $ 150,000 for the next three months.
