As Bitcoin (BTC) passes $100,000 again, approaching a new all-time high (ATH), most crypto analysts predict that the main cryptocurrency will peak around $150,000 during this market cycle. However, some experts argue that such a target is “too low” for BTC, considering its increasing adoption and growing market dynamics.
$150,000 target too low for Bitcoin
Crypto trader Alex Becker recently took to X to share his thoughts on Bitcoin's price movement. The trader said while the consensus points to BTC peaking at $150,000 this cycle, he believes the target is “far too low and far too short.”
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Becker argued that at $150,000, Bitcoin's market capitalization would represent only one-sixth of gold, leaving much room for growth. He described the idea of BTC reaching just one-sixth of gold's market cap as “ridiculously low.”
At the time of writing, Bitcoin's total market cap is $2.06 trillion. In contrast, gold commands a much larger market cap of around $18.5 trillion.
As for why, the trader noted that unlike past market cycles, things are very different for BTC in the current cycle. The main cryptocurrency is ready benefit from favorable regulations under the Donald Trump administration, side by side constantly growing accepted by corporations and sovereign nations as a source of value.
Becker projects that, driven by these factors, BTC could peak between $250,000 and $400,000. His view aligns with that of crypto analyst Will Clemente.
In recent times mail on X, Clemente noted that if a country adopts Bitcoin as a strategic reserve asset, it could trigger a domino effect, prompting other countries to follow suit. Clemente explained:
Once a country accepts BTC as a strategic reserve fund, it will naturally DCA into that fund. Then apply this to every country on Earth that wants to maintain its purchasing power at the same time in game theoretic fashion.
BTC Supply Decline Near?
As more physical send Bitcoin to their balance sheets and speculation growing about the establishment of a strategic US Bitcoin reserve, the active supply of BTC could come under pressure.
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Crypto analyst Miles Deutscher recently pointed out that in X mail that Bitcoin balances on crypto exchanges have hit a seven-year low. Historically, a reduced exchange supply is associated with a sharp, parabolic rise in prices for the asset.
Other projections estimate BTC could reach a peak of around $200,000 by the summer of 2025. At press time, Bitcoin is trading at $103,973, up 5.7% in the past 24 hours.
Featured image from Unsplash, Charts from X and TradingView.com
