Bitcoin is unlikely to reach $ 200,000 this year, as the volume of purchase does not increase enough to continue to push the higher price, according to a cryptographic analyst.
This occurs after several industry leaders have recently hypothesized that Bitcoin (BTC) will soon reach $ 200,000.
“How can we go up when there is no volume?” Glassnod’s main analyst James Check said in an interview on Tuesday.
$ 200,000 by the end of the year is “a big decision”
“$ 200,000 in six months is a big decision – it’s a big decision,” said Check. He added that this would almost double the current Bitcoin market capitalization of 2.38 billions of dollars, given its price of $ 119,541 at the time of publication, according to Nansen.
“Could it happen? Absolutely. Does this happen? Very improbable. “
“Until I see this volume hindering, until I feel a little more confident, I will certainly not put lever -effect positions,” said Check. “I’m probably not going to go out on the risk curve until I see that the market is stabilized.”
The check said that the first Bitcoin stage reaching $ 200,000 was that it exceeded $ 120,000, which was done on July 14, but he said there were still several stages.
“Then we have to reach $ 130 and 40, 50 [thousand]And it’s one thing to get there, it’s something else to stay there, “he said.
He warned that if Bitcoin increases too quickly without strong and stable stable support, the price could drop just as quickly. “You have to follow; if not, you exchange air, and you will exchange as if it was air on the way back,” he said.
However, Check acknowledged that “no one knows” where the Bitcoin prize is heading.
Despite this, it remains optimistic, with most of its net value in Bitcoin, and thinks that in five years, it will be “good and really” above the price level of $ 200,000.
Bitcoin at $ 200,000 in 2025 a popular call
Meanwhile, several other analysts are optimistic about the chances of Bitcoin to reach $ 200,000 by the end of 2025, some date back to the end of last year.
In May, Matt Hougan, director of investments in Bitwise, said that Bitcoin would reach $ 200,000 by the end of 2025 due to an increased institutional demand shock.
The anonymous ad APSK32 also sees a target of $ 200,000 in 2025, indicating long -term trend models.
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“Looking at the two -year -old segments centered today, 4, 8 and 12 years old. Price scales carried out the trend line of the power curve. Hearing $ 200,000 + Bitcoin in the fourth quarter,” said APSK32.
Bernstein Research has experienced forecasts of $ 200,000 by the end of 2025 in mind since October 2024, supported by increased institutional demand through Bitcoin ETF and BTC cash companies.
However, the Crypto Rekt Capital analyst said earlier this month that Bitcoin can only have a few months of pricing in the cycle, especially if he follows the same historical model from 2020.
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This article does not contain investment advice or recommendations. Each investment and negotiation movement involves risks and readers should conduct their own research when they make a decision.
