Bitcoin follows the growth tendency in gold prices and shows the potential to exceed $ 300,000. Leading crypto can break the megaphone formation in the four -year rise trend to move its price to new record levels. According to Market Analyst Gert Van Lagen, this break can lead Bitcoin to the range of $ 270,000-300,000 by 2025.
The target of 270,000-300,000 dollars for Bitcoin is on the agenda
Megaphone formation or expanding wedge occurs when the price is increasingly increasing peaks and falling bottoms. According to the rules of technical analysis, exceeding the upper limit of the formation may lead to the initiation of a parabolic rise.
In November, Bitcoin continued its upward movement by breaking this upper trend line. Base 1, Base 2, Base 3 and Base 4 stages in Lagen’s analysis indicate a gradual accumulation process that supports the rise of Bitcoin:
- Base 1: The point where the decline trend ends at the lower limit of the megaphone formation.
- BASE 2: “The bear trap, in which weak investors are eliminated and Bitcoin’s support again.”
- Base 3: The price expansion process approved by higher peaks.
- BASE 4: The last consolidation phase before breaking.
Bitcoin’s parabolic rise is supported by Elliott wave theory
Lagen maps Bitcoin’s price movements according to Elliott Wave Theory, foresees the potential rise to be experienced after the accumulation stages in the Megaphone formation.
According to the analysis, Bitcoin is currently in the wave (5) stage, which is often the stage where the fastest and parabolic rise is seen. Technically, the wave (5) may expand up to 1,618 to 2 times the length of the wave (3). Fibonacci-based price targets confirm the range of $ 270,000-300,000.
Can Bitcoin exceed $ 300,000 following the path of gold?
Analyst Apsk32, Bitcoin’s price movement by comparing the historical rise of the BTC may rise up to $ 400,000.
Using the power law model, the analyst compares Bitcoin’s market value to gold, and says that BTC has never moved more than five years ahead of the trend line and therefore there is more space for rise.
The main reason for this positive expectation is that Bitcoin is increasingly adopted by more companies as a treasury. Traditional financial giants are also interested in BTC, which has started to be seen as a value of value storage, such as gold. For example, one of Italy’s largest banks, Intesa Sanpaolo, included Bitcoin in the list of assets.
However, the news that US President Donald Trump intends to create a strategic Bitcoin reserve strengthens his position as a safe harbor presence of BTC.
Among the longer term forecasts, Timothy Peterson, Bitcoin until 2035 For 1.5 million dollarsArk Invest CEO Cathie Wood says that the same target can be achieved by 2030.
