After reaching a new historical peak on Monday, Bitcoin price forecasts continue to emerge, with one expert suggesting that BTC could reach $135,000 before the market enters a distinct adjustment phase.
Before this breakout was recorded, Bitcoin had gone through nearly two months of sideways accumulation, according to Katie Stockton, founder and managing partner at Fairlead Strategies.
Stockton stated that her company builds 'forecast models based on measurement ranges' based on breakout points, and assuming the previous uptrend continues before adjusting, 'Bitcoin's mid-term target will be around $135,000.'
She also noted that stocks related to the Bitcoin market, such as Coinbase or Strategy, are likely to show positive trends as well.
"The entire cryptocurrency market is showing positive signals," she commented, citing the volatility of Ether and XRP.
Many other experts are also optimistic about BTC prices.
Bitcoin has broken out of a multi-week accumulation pattern to establish a new peak at $122,871 on Coinbase on Monday, before slightly adjusting down to below $120,000 in Tuesday morning trading.
Stockton's forecast aligns with many recent opinions from other experts.
"Based on the breakout signal on July 10, which often leads to an average increase of 20% over two months, we forecast that Bitcoin could reach $133,000," said Mr. Markus Thielen, Director of Research at 10x Research.
"We expect a short-term accumulation phase before BTC continues to rise to $133,000. The year-end target of $160,000 is still in sight."
Mr. Nick Ruck, Director of Research at LVRG Research, commented:
"Investors are still aiming for $150,000 as the next important price milestone in this cycle. We remain optimistic that Bitcoin can continue to grow, as long as no unexpected black swan events occur."
Experts also marked the $132,000–$138,000 range as a 'reasonable target in the short term' before the upward momentum begins to slow down. They also noted that the current 'bull flag' pattern suggests a target price around $130,000.
Retail investors are still absent.
Bitcoin has surpassed the $120,000 mark, breaking a 7-year trendline that has been a strong resistance zone since 2018.
"This is an extremely strong bullish signal, especially in the current context. But the most concerning thing is that buying power from retail investors has not yet appeared. This price increase is primarily driven by institutional capital. The typical signs of retail investors (such as a spike in search volume or cryptocurrency apps ranking high in downloads) have not yet been recorded," said Mr. Nic Puckrin, founder of Coin Bureau.
He believes retail investors may only start participating when BTC hits the $150,000 threshold and FOMO kicks in.
Bitcoin is still just a 'tiny player' compared to other asset groups.
The recent surge has brought Bitcoin's market capitalization to $2.4 trillion, helping BTC surpass Amazon to become the fifth-largest asset in the world.
However, according to Mr. James Lavish, co-founder of the Bitcoin Opportunity Fund, when viewed in the overall picture of the financial market (including gold, stocks, real estate, and bonds), Bitcoin still appears quite small.
