Bitcoin holders could wish to rethink their worth targets for 2025, with one Bitcoin analyst arguing that $110,000 has been firmly established as Bitcoin’s new backside.
“You’ll be able to type of begin lifting a few of your targets and saying, “Nicely, as a result of we’ve confirmed 110, that’s the ground, the place will we go from right here?” James Test mentioned in an interview revealed on YouTube on Thursday.
“We’ve constructed an infinite base up right here at $2 trillion,” he mentioned, referring to Bitcoin’s (BTC) market capitalization, which is presently sitting at round $2.42 trillion. “We proved a trillion [in 2024], we’ve proved $2 trillion in [2025], so now the query is what number of trillions,” he mentioned.
Bitcoin at $95,000 is a ground, not a ceiling
“Sixty % plus of the {dollars} which have ever been invested in Bitcoin is above 95K,” Test mentioned. “That’s extra of a ground than it’s a ceiling,” he added, as holders won’t be too concerned with promoting Bitcoin for lower than what they paid for.
Test mentioned that the “most sensible factor” is to go to $150,000, which might be an roughly $3 trillion market cap. “It’s certainly one of these good binary setups and markets you’ve at all times received to carry two views on the identical time,” he added.
In December 2024, Galaxy Digital head of digital analysis Alex Thorn projected that Bitcoin may attain $150,000 in 2025, with potential to climb as excessive as $185,000.
With a number of bullish forecasts made this 12 months as excessive as $250,000, market contributors are contemplating how excessive Bitcoin would possibly rise and the way lengthy it will take.
Bitcoin bulls are in management, says Test
Nonetheless, Test mentioned there may be “no excuse for the market” to go right down to $95,000. “We’ve got confirmed that we would like greater. The bulls are in management,” he mentioned.
“If not, the bulls are weak sauce and we’re in all probability over for a time frame,” he added.
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Bitcoin is buying and selling at $121,392 on the time of publication, up simply 0.80% over the previous seven days, in accordance to CoinMarketCap. A transfer to $150,000 would characterize a 23.50% enhance from its present worth.
Capriole Investments founder Charles Edwards additionally believes the transfer to $150,000 is probably not far off. On Oct. 2, he argued that Bitcoin reclaiming the $120,000 psychological mark could result in a “very fast” breakout to a brand new all-time excessive of $150,000.
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