The Bitcoin (BTC) marketplace experienced greater losses than gains over the previous week, leading to a net price drop of 2.37%. Despite this, both investors and market analysts remain extremely optimistic about the flagship cryptocurrency’s capacity for significant profits amidst the ongoing bull market.
Bitcoin Set For $150,000 Price Objective – Analyst
In a Quicktake article on CryptoQuant, an analyst named Percival has asserted that Bitcoin could reach a price of $150,000 in the current bull cycle. Commenting on the current market conditions which might be troubling to some investors, Percival notes that Bitcoin’s price trajectory, characterized by sharp upward movements and phases of stabilization, mimics the structural characteristics of any well-established financial asset.
Regarding future price developments, the analyst refers to a Fibonacci expansion from Bitcoin’s cycle low of $15,450 in November 2022 to the consolidation point at $48,934 in 2024. Using this historical information to inform the current market, Percival sets a Bitcoin price target between $136,000 and $150,000, further reinforced by information from Bitcoin Realized Price Bands, a market indicator that evaluates supply based on varying purchase levels.
For Bitcoin to achieve a valuation of $150,000, the asset must reach a total market capitalization of $3 trillion. Currently, there exists substantial historical evidence supporting this hypothesis. For perspective, Percival illustrates that the Bitcoin Realized Cap surged by 470% during the last bearish cycle in 2021. At present, the realized Cap has only increased by 111%, indicating further market growth potential.
Moreover, the analyst highlights potential sources of demand that could drive the anticipated $3 trillion market growth, one being the US Bitcoin Spot ETFs.
Significantly, these investment vehicles attracted nearly $40 billion during their initial trading year in 2024. With the US likely to adopt a pro-crypto policy under the Donald Trump administration, institutional interest is also poised to strengthen significantly through these ETFs. Additionally, Percival mentions the Bitcoin Futures market, currently valued at $95 billion, as another potential positive force for the projected market growth.
BTC Price Summary
As of this writing, Bitcoin is trading at 102,334, showing a 1.66% decrease in the past day. However, the leading cryptocurrency has increased by 7.93% on its monthly chart following a robust performance in January.
According to data from the forecasting site CoinCodex, market sentiment continues to be optimistic, with a Fear & Greed Index of 76 indicating extreme greed among investors. Looking ahead, the analysts at CoinCodex predict Bitcoin could reach $113,658 and $132,823 in the next five and thirty days, respectively. Specifically, they anticipate that the digital asset could surpass $150,000 within the next three months.
