Bitcoin’s recent price surge has everyone talking. It’s hit new all-time highs for four days straight, recently peaking at almost $100,000! But is this the top? One analyst says, “Absolutely not!”
The Satoshimeter: A Bullish Outlook
Stockmoney Lizards, a crypto analyst, uses a tool called the Satoshimeter to track Bitcoin’s market cycles. This tool uses blockchain data to predict market highs and lows. Historically, readings around 1.6 signal bear market bottoms, while readings above 20 indicate bull market peaks. Right now, the Satoshimeter is in a mid-range, suggesting there’s still plenty of room for Bitcoin to grow before this bull run peaks.
Bitcoin’s Price: A Long Way to Go
Bitcoin’s price is up a massive 163% in the last year. While short-term dips are expected, Stockmoney Lizards believes the current rally is just one phase of a much larger upward trend. They see the $100,000 mark as just a stepping stone.
Future Price Predictions: To the Moon (Maybe)?
Breaking the $100,000 barrier would be huge, but it’s only the beginning, according to some. Stockmoney Lizards predicts a second parabolic surge, pushing Bitcoin past $120,000 by April 2025. Even bolder predictions exist, with some analysts like PlanB (creator of the Stock-to-Flow model) suggesting a price as high as $1,000,000 by December 2025!
A Word of Caution
While these predictions are exciting, it’s important to remember that Bitcoin’s price is approaching an overheated zone according to some indicators (like the MVRV ratio). So, while the future looks bright, proceed with caution. At the time of writing, Bitcoin is trading around $98,550.
