Bitcoin Traders Bet Big: Will It Hit $270K or Crash Like Last Time?

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Key points:

  • Bitcoin traders eye new all-time highs, with predictions stretching to $270,000 by October.

  • The bull run is far from over, they insist, with BTC set to surge higher.

  • Yet, the ever-present specter of another bear market looms over the horizon.

Ah, Bitcoin. The proverbial wild stallion that no one can tame. Traders, like hopeful gamblers at a casino, are eyeing a new all-time high—perhaps even a staggering $270,000—by October. The dream of riches is very much alive, but is it built on sand or solid ground? The debate is as heated as the summer sun.

Bitcoin traders agree: New all-time highs are coming… or are they?

Bitcoin is sitting comfortably above the $100,000 mark, and though global events seem to throw a wrench into the works daily, traders remain as bullish as ever. The consensus? The bull market has not only survived—it is about to enter a glorious new phase. Could it be that Bitcoin is ready for its next big leap? Maybe. But don’t get too comfy, my dear reader.

“Bitcoin is trending upward in an Ascending Broadening Wedge,” said Alan Tardigrade, a well-known figure in the trading world. He seems quite convinced, as evidenced by his detailed analysis published on June 15.

“This pattern has been forming for weeks, and I predict it will reach $170k levels,” he confidently asserted. Ah, the magic of patterns that tell us everything we need to know… or do they?

A chart accompanied the forecast—ah, yes, the ever-reliable chart. It showed a pattern stretching back to early 2023. So, clearly, all is well in the world, right?

Then, there was the “golden cross.” No, it’s not the latest trend in medieval weaponry, but rather the phenomenon where the 50-day simple moving average crosses over the 200-day version. According to Tardigrade, this “golden cross” has led to gains of 49%, 125%, and 68% since 2023 whenever it occurred. Sounds like a fairy tale, doesn’t it?

“If Bitcoin experiences its worst and best gains from here, it could reach $152k and $229k. But hey, that’s only reasonable given the recent uptrend,” he remarked. Well, of course, why not? Let’s all just throw reason out the window and dream big.

Of course, these optimistic projections are hardly unique. Other traders, waiting for Bitcoin to dip a little first to test support, still envision the grand ascent to the $270k mark in due time.

“A potential wave down to $92k would set the stage for a strong rebound towards $270k in October,” tweeted BigMike7335. And who wouldn’t trust a Twitter handle like that?

But wait, there’s more. Merlijn, another trader with a flair for grandiose claims, noticed something resembling an inverse head-and-shoulders pattern. Oh, the nostalgia of charting. His prediction? A “breakout target” of $140K+, which sounds more like a wish than a forecast. The only thing standing in the way is a measly $113K “neckline,” but hey, no big deal, right?

“The neckline at $113K is the only hurdle left,” he said. Really? That’s it? Just $113K? Let’s make it happen!

Preparing for the inevitable bear market… maybe

Of course, not everyone is drinking the Kool-Aid. There are some voices of reason amidst the chaos—one of them being Saifedean Ammous, the author of “The Bitcoin Standard.” His recent words of caution come like a cold splash of water to the face.

“I just hope everyone remembers that Bitcoin has dropped -70% and -80% before. It could happen again,” he reminded his audience during the Bitcoin 2025 conference. Ah, the sweet taste of reality.

It’s a sobering thought, but the rise and fall of Bitcoin has been a rollercoaster we’ve all strapped in for. Will we see a meteoric rise to the stars, or will gravity pull us back down with a vengeance? Only time will tell, but one thing’s for sure: It’s never boring.

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2025-06-15 14:28