Renowned market evaluator Gert Van Lagen has boldly endorsed Bitcoin (BTC) to reach the $300,000 price target amid the ongoing bull market. Van Lagen’s forecast follows closely after marking a new record high at $111,970, indicating a robust bullish intent to preserve the current price uptrend.
During the last week, the leading cryptocurrency recorded a modest price increase of 5.35% as news surfaced of US President Donald Trump suggesting a 50% tariff on imports from the European Union (EU), which prompted a slight price pullback.
Bitcoin Potential Exponential Growth Projects Rally To $300K
In an post on X dated May 24, Gert Van Lagen reveals that BTC’s price trajectory since the previous cycle in 2021 has resulted in a cup-and-handle pattern, indicating the digital asset is poised for a significant price breakout.
For reference, the cup-and-handle signifies a major bullish continuation configuration, suggesting a prospective upward breakout. In Bitcoin’s situation, the cup develops between late 2021 and early 2024, as the price trajectory formed a rounded bottom, illustrating a decline from a former record high around $69,000, followed by a period of stabilization and recovery, culminating in a return to that crucial level.
After reaching this previous high, the price dynamics retraced, forming a downward or sideways channel referred to as the handle, establishing the groundwork for a price breakout. This is well depicted in Bitcoin’s price trajectory from early 2024 to Q3 2024.
Significantly, Bitcoin has now accomplished this breakthrough from the cup-and-handle formation by surpassing the critical market resistance at $69,000. Through linear estimations, Gert Van Lagen explains that the flagship cryptocurrency is anticipated to achieve a price target of $120,000-$130,000 — a forecast now within Bitcoin’s reach, given the prevailing market momentum.
Nevertheless, Van Lagen also mentions that the cup-and-handle configuration further suggests an exponential price target of $300,000. Historically, BTC has previously reached such logarithmic targets with gains of 100x from 2013-2017, and 21x from 2018-2021.
Additionally, the influx of institutional capital, particularly following the endorsement of spot Bitcoin ETFs in 2024, reinforces this bullish perspective. However, while this institutional involvement indicates long-term confidence, it also highlights BTC’s development. Now a $2 trillion asset, Bitcoin’s considerable size may result in infrequent parabolic movements, despite the crypto market’s volatility still offering the potential for significant upside.
BTC Price Summary
At present, Bitcoin is trading at $107,794 after a slight 0.64% increase in the past day. On the monthly chart, the leading cryptocurrency reports increases of 16.25% as the bullish market continues.
Featured image from iStock, chart from Tradingview
Editorial Methodology for bitcoinist focuses on providing thoroughly researched, precise, and impartial content. We adhere to rigorous sourcing standards, and each page undergoes meticulous review by our team of leading technology specialists and experienced editors. This method guarantees the integrity, relevance, and value of our content for our audience.
