As a researcher with a background in cryptocurrency analysis, I find Cryptorphic’s prediction of Bitcoin reaching $156,000 by May 2025 to be an intriguing one. His argument is based on historical price trends following the halving events, which have shown significant price increases in the years that followed.
Expert here: Crypto forecaster Cryptorphic anticipates Bitcoin reaching an astounding peak of $156,000 during this particular market trend based on past patterns. The analyst referenced historical tendencies to substantiate his belief that Bitcoin is capable of achieving such a price point.
Bitcoin To Hit $156,000 By May 2025
In a recent post on X (previously Twitter), Cryptorphic expressed his belief that Bitcoin could reach a price of $156,000 by May 27, 2025. He supported this forecast by referring to Bitcoin’s past price trends following its halvings. According to Cryptorphic, after each halving event in Bitcoin’s history, the cryptocurrency has experienced substantial price growth instead of a downturn, which are often referred to as “red years.” Consequently, it is a common occurrence for Bitcoin to experience significant price increases one year after each halving.
As a researcher studying Bitcoin’s price trends, I’ve observed that following each halving event, Bitcoin has experienced significant price gains. Specifically, there was an approximately 8,300% increase in price one year after the first halving in 2012, a 288% increase one year after the second halving in 2016, and a 536% increase one year after the third halving in 2020. Based on this historical pattern, Cryptorphic, a reputable cryptocurrency analysis firm, anticipates a potential 127% price increase for Bitcoin starting from its price during the upcoming halving in 2024, which is currently around $65,415. This could potentially lead to a Bitcoin price of up to $156,000 by the following year.
As a cryptocurrency market analyst, I’ve observed that Cryptorphic’s price prediction is consistent with other prognostications made by crypto industry experts. For instance, Anthony Scaramucci, the CEO of Skybridge Capital, anticipates that Bitcoin could surge up to $170,000 within 18 months following the halving event. Another analyst, Mikybull Crypto, has identified targets between $138,000 and $150,000 for Bitcoin during this ongoing bull market.
During this current bull market, Bitcoin may surpass the price prediction of $156,000 set by Cryptorphic, as the peak price for Bitcoin, according to crypto analyst Rekt Capital, is expected to occur in September or October of next year instead of May 2025.
Expert’s perspective:
Bitcoin Could Be Headed For $81,000 In The Meantime
As a crypto investor, I’ve been closely monitoring the market and following the analysis of Cryptorphic. He recently predicted that Bitcoin (BTC) could see significant growth and reach a price of $81,000 in the near future. The reason behind this optimistic outlook is that BTC has just broken free from a symmetrical triangle pattern on the charts. This technical indication suggests an upward trend and potential for further gains. If Bitcoin manages to surpass the resistance level at $73,000, it could very well continue its journey towards reaching $81,000.
As a researcher studying the cryptocurrency market, I also shared my concern about Bitcoin’s potential price decline. Specifically, if BTC drops below the support level of $66,400, it could lead to a further price decrease towards the resistance turned support level at $62,433.
Currently, Bitcoin is priced approximately at $67,700 based on market information from CoinMarketCap, representing a decrease of about 1% within the previous 24-hour period.
Read More
- LUNC PREDICTION. LUNC cryptocurrency
- SOL PREDICTION. SOL cryptocurrency
- BTC PREDICTION. BTC cryptocurrency
- USD COP PREDICTION
- BICO PREDICTION. BICO cryptocurrency
- USD ZAR PREDICTION
- USD PHP PREDICTION
- VANRY PREDICTION. VANRY cryptocurrency
- USD CLP PREDICTION
- NAKA PREDICTION. NAKA cryptocurrency
2024-05-30 21:11