Analyst: Bitcoin's current bull run still targets $300,000
Gert Van Lagen, a well-known analyst, said that Bitcoin (BTC) will break through the $300,000 mark in the current bull run. This prediction was made shortly after Bitcoin hit an all-time high of $111,970, showing strong bullish sentiment in the market.
Last weekend, affected by Trump's suggestion to impose a 50% tariff on EU imports, the price of Bitcoin fell slightly over the weekend, but it stopped falling and rebounded to $109,000 on Monday.
Gert Van Lagen pointed out that Bitcoin's price action has formed a cup-and-handle pattern since the last cycle in 2021, indicating that a major breakthrough is imminent.
The cup-and-handle pattern is an important bullish continuation pattern. Bitcoin's cup-and-handle pattern was formed in late 2021 and early 2024, when the price fell from the all-time high of about $69,000, and then experienced a few years of stability and recovery, and finally rose to this key level.
Subsequently, the price fell back to form a "handle", laying the foundation for a breakout. In this round of market, Bitcoin has now broken out of the cup-handle pattern and broke through the key resistance level of $69,000.
Based on the linear calculation method, Gert Van Lagen expects Bitcoin's price target to reach $120,000-130,000, which is within the affordable range considering the current market momentum.
More importantly, the cup-handle pattern also indicates that the price of BTC may grow exponentially to $300,000! Historically, BTC has achieved similar amazing gains, such as a 100-fold increase between 2013 and 2017 and a 21-fold increase between 2018 and 2021.
In addition, the influx of institutional capital after the approval of the spot Bitcoin ETF in 2024 further supports Bitcoin's bullish outlook. While institutional participation highlights long-term confidence, it also reflects the maturity of BTC.
Today, Bitcoin is an asset worth more than $2 trillion. Its huge market value may reduce the frequency of price fluctuations, but the cryptocurrency market still has huge potential for growth.
Based on Gert Van Lagen's views, Bitcoin's long-term bull market trend is still obvious, and the goal of $300,000 is not a pipe dream.
Although analysts have provided us with some unique perspectives and insights, the market is always full of uncertainty. Investors should look at it rationally and not blindly follow the trend.
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