Could Bitcoin hit a whopping $245,000? One analyst thinks so, and they’ve laid out a timeline.
The $245,000 Prediction
TradingView analyst Behdark has released a report predicting Bitcoin could reach between $245,000 and $250,000 by 2025. This prediction is based on a detailed analysis of Bitcoin’s price action over the past two weeks, using logarithmic charts and historical data. Behdark previously predicted a price of $169,000, but this new analysis suggests an even higher target. Currently, Bitcoin is trading significantly lower, so this represents a massive potential increase.
The Analyst’s Methodology
Behdark’s analysis focuses on logarithmic charts and price channels, which are useful for identifying long-term trends in crypto markets. The analysis shows Bitcoin moving within a price channel, with trendlines suggesting the $245,000 – $250,000 target. Importantly, Bitcoin has recently broken through key resistance levels around $77,000-$78,000. This former resistance is now acting as support, meaning a dip would likely see Bitcoin retest this level. There’s also a CME gap around $77,000; filling this gap could further fuel Bitcoin’s upward momentum.
Trump’s Impact
Behdark also points to the potential influence of a Trump presidency. Trump’s generally positive stance on cryptocurrencies could boost adoption and increase Bitcoin’s market capitalization. This positive political climate could create a significant bull market, but Behdark cautions investors to manage risk carefully.
