A crypto analyst, Trader Tardigrade, has noticed something interesting: Bitcoin’s price movements are eerily similar to those seen in 2023. This has some folks speculating about what’s next for the king of crypto.
Following in 2023’s Footsteps
Trader Tardigrade, posting on X (formerly Twitter), claims Bitcoin’s recent pullback is complete. He predicts a surge past $100,000, followed by consolidation around that level. But that’s not all!
He’s even bolder, predicting Bitcoin will hit $200,000 by early 2025, specifically March. He believes this will mirror a similar price surge seen earlier this year.
This isn’t a solo prediction. Bernstein analysts and Standard Chartered’s Head of Research, Geoffrey Kendrick, have also predicted a $200,000 Bitcoin by the end of 2025, though Bernstein called their prediction “conservative.”
Not Everyone’s On Board
However, not everyone is buying into the $200,000 hype. Analyst Tony Severino thinks that’s too optimistic, suggesting a more realistic peak around $160,000 based on the golden ratio.
Still Room to Grow?
Analyst Ali Martinez adds another perspective. Using the Market Value to Realized Value (MVRV) indicator, he argues Bitcoin is still far from its peak. He sees the current correction as a potential buying opportunity, pointing to buy signals from the TD Sequential and a bullish divergence on the RSI. He suggests a rebound to the $95,000-$96,000 range.
At the time of writing, Bitcoin is trading around $93,400. Whether it will follow the predicted trajectory remains to be seen.
