The post Bitcoin Price Set for $150K High? Analyst Sees 2017 Repeat appeared first on Coinpedia Fintech News
The Bitcoin market has been on an impressive 2.1% rise in the last 24 hours, with analysts predicting that the cryptocurrency could soon reach a milestone many thought was years away. James Check, a renowned crypto expert, sees striking similarities between the current market cycle and the explosive 2016-2017 rally.
Could Bitcoin hit $150,000 sooner than we expected?
Let’s dive into the data and the analysis behind this bold prediction. You might be surprised by what’s next!
Bitcoin’s Path to $150K: Analyst’s View
At the start of January, Bitcoin was priced at $93,600.90. By January 6, it broke the $100K mark. However, between January 7 and 9, the price corrected by 9.45%. Bitcoin rebounded on January 17, and by January 20, it reached a monthly high of $109,538.17. Currently, Bitcoin stands at $104,814.63—about 4.31% lower than the peak.
James Check forecasts that Bitcoin could reach the $120,000 to $150,000 range soon, calling this range the “topping cloud.” However, he warns that if the price surpasses this range, it might struggle to hold there.
Profit Potential for Holders: Short-Term vs. Long-Term
Data from Bitbo shows that short-term Bitcoin holders paid an average of $90,349 per BTC, while long-term holders paid just $24,627. If Bitcoin reaches $150,000, short-term holders could see a 66.02% profit, while long-term holders could see an impressive 509.09% profit.
Comparing 2025 to the 2016-2017 Bitcoin Cycle
Looking at Bitcoin’s 2016-2017 market cycle, there are clear similarities to the current one. In 2016, Bitcoin saw the following quarterly changes: -3.25% in Q1, +61.6% in Q2, -9.34% in Q3, and +58% in Q4. In 2017, the market boomed, with Q2 showing a 131.5% increase and Q4 seeing a 226.1% surge.
James Check believes the current cycle mirrors the 2016-2017 patterns, suggesting Bitcoin may face some consolidation early in 2025, followed by a big rally toward the end of the year.
While many expect Bitcoin to see significant price movement in 2025, predictions about timing and scale differ. Some traders, like Bitquant, argue that claims of Bitcoin topping out now are premature and expect further price increases.
Bitcoin’s Possible Peak: Late 2025 or Earlier?
Crypto trader Braver agrees that Bitcoin’s current cycle shares similarities with 2016-2017 and believes there will be strong bullish momentum in the first quarter of 2025. However, Braver acknowledges the possibility of the market reaching a peak in the final quarter of the year.
On the other hand, trader Mags predicts Bitcoin will reach a new all-time high between July and October 2025, suggesting the peak could come earlier than expected.
A Promising 2025 for Bitcoin
As Bitcoin follows patterns from its previous cycles, analysts and traders remain optimistic about the potential for major price movements in 2025. With predictions pointing to a possible peak around $150,000, it seems the cryptocurrency market is in for an exciting year ahead.
Stay tuned—Bitcoin’s journey is just getting started.
