CandleFocus Analyst Predicts $200,000 Bitcoin (BTC) Price, Yet Expects Post-2025 Timeline
2024-10-22
Author: Content Editor
Crypto analyst Sminston With predicts that Bitcoin's price could exceed $200,000, although this may not happen this year or next. With arrived at this conclusion using the Decay Channel model, which challenges previous prediction models such as the Rainbow Chart and Stock-to-Flow (S2F) model. However, on-chain data suggests that Bitcoin may not reach such high levels, with the 350-day Simple Moving Average indicating a top around $114,256. Another analyst predicts that Bitcoin could reach $200,000 in 2025. Additionally, Jurrien Timmer believes that Bitcoin's adoption curve lags behind that of gold, limiting its price growth. Bitcoin attempted to hit $70,000 but failed, currently trading below $67,000. The Relative Strength Index indicates a bearish momentum, but if momentum becomes bullish again, Bitcoin could climb to $69,400 and possibly surpass $73,000 in the short term.
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