$156,000 Bitcoin by May 2025?

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A well-known crypto analyst, Cryptorphic, suggests a promising future despite recent downslide in the Bitcoin price, as Bitcoin could reach $156,000 by May 27, 2025.

Most of the Bitcoin supporters think this estimation is bearish.

Bitcoin to the moon!

Cryptorphic’s projection is based on the historical effect of Bitcoin halvings. After each 210 000 blocks, approximately in every four years, the reward for mining new Bitcoin blocks is halved.

This event decreases the supply of new coins entering the market, which can drive up the price of existing ones, as the supply-demand dinamics changes.

The analysis highlights the pattern following past halvings.

After the first halving in 2012, Bitcoin’s price soared by an incredible 8,300%, the second halving in 2016 resulted in a 288% increase, while the most recent halving in 2020 led to a 540% surge within a year.

In a tweet, Cryptorphic shared his views, as we always got a green year after the halving.

Yea, we got a pump in this year, but what about the second pump?

Following the latest halving in April this year, Cryptorphic predicts a nice price increase of nearly 130% by the following year, translating to a price range between $115,000 and $156,000.

 

Despite this optimistic outlook, the analysis acknowledges Bitcoin’s current short-term volatility, as the cryptocurrency is trading below its peak, having recently dipped by 5%.

But Cryptorphic points to a technical indicator known as the inverse head and shoulders pattern, which suggests a potential price jump.

Some other analysts express cautious optimism for Bitcoin’s short-term performance, due to the weakening bearish sentiment and suggesting the market might be entering an earlier bullish phase than Cryptorphic anticipates.

No loss, just gains

Bitcoin’s market cap now stands at $1.3 trillion, as shown by TradingView’s data.

Over the past year, Bitcoin has surged by 144%, and this strenght has allowed it to outperform 58% of the top 100 crypto assets and surpass Ethereum in gains.

Such a strong increase make clear Bitcoin’s high market dominance and investor confidence.

Bitcoin is trading above its 200-day simple moving average, indicating a strong bullish trend, while its high liquidity further support its attractiveness to investors.

bitcoin
Source: tradingview

New accounting rules set to take effect next year in the USA and this might make it easier for companies to hold Bitcoin without facing accounting issues, incentivizing more corporate investments.

Halvings have historically altered the supply-demand dynamics, often leading to significant rallies.

While many doubted Bitcoin would ever reach its previous all-time high of $69,000, it has already surpassed that mark, making the $156,000 prediction seem both reasonable and conservative, bearish to some.

Many speculate that Bitcoin could even reach a million dollars, adding to the wide range of opinions in the market.

Have you read it yet? How to do your own research?


Disclosure:This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Kriptoworld.com accepts no liability for any errors in the articles or for any financial loss resulting from incorrect information.

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