CandleFocus If Bitcoin Breakout is Genuine, Price Will At Least Double to $130K: Top Analyst
2024-10-24
Author: Content Editor
According to analysis by Ecoinometrics, the price of Bitcoin could double within the next year if the current breakout is genuine. The analysis assumes strong positive momentum for both Bitcoin and the broader stock market. The median expectation is for Bitcoin to gain about 100%, potentially reaching $130,000 by late 2025. However, there is a more conservative outlook indicating a potential loss of 26% if momentum falters, and a more aggressive outlook suggesting cumulative returns of up to 465% if momentum exceeds expectations. The analysis also acknowledges signs of market overheating. Bitcoin has been in an uptrend since September 18, but has been struggling to sustain itself above $65,000. Other analysts have also provided bullish price outlooks for Bitcoin, with some suggesting a target of $200,000 by 2025.
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