In recent weeks, the market has been gaining traction, with industry experts indicating that the Bitcoin price is merely at the beginning of a significant rally. Demonstrating resilience against wider market fluctuations, Adam Back, co-founder and CEO of Blockstream, a blockchain technology firm, predicts that Bitcoin at $100,000 is still a bargain. He believes the leading cryptocurrency possesses even more potential, forecasting its true peak value for this cycle.
Why Bitcoin Price At $100,000 Is Still Cheap
Back, a long-time Bitcoin supporter, recently stressed that the market continues to overlook BTC’s long-term prospects. He pointed out that discussions about diminishing returns from each halving cycle may not fully capture the current economic landscape. Back highlighted that the latest halving cycle was affected by macroeconomic disruptions, including pandemic-related money printing and global supply chain challenges, which may have constrained Bitcoin’s potential upside.
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The Blockstream CEO conveyed that Bitcoin’s previous peak exceeding $73,000 occurred too early and should not be seen as the natural peak of the last cycle. He considers it a temporary ceiling influenced by external economic pressures. With these challenges subsiding and market conditions becoming more favorable, Back contends that a $100,000 valuation for Bitcoin is “too cheap” in light of its authentic cycle peak.
Looking ahead, the Blockstream co-founder envisions that Bitcoin could rise significantly higher in the current cycle, anticipating a peak between $500,000 and $1 million. This optimistic outlook emphasizes his belief that institutional interest, growing scarcity, and a transforming global economic landscape are setting the stage for BTC’s most explosive ascent yet.
Chart Analysis Suggests BTC Could Hit $124,000 This Week
Crypto analysts are also noticing robust technical patterns hinting that Bitcoin is on the verge of another major breakout. IncomeSharks, a notable market analyst, has forecasted that BTC could reach $120,000 by the end of the week.
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His analysis, shared on X social media, is backed by a chart indicating a recovery from recent downturns and a possible continuation of the upward trend. Currently, Bitcoin has bounced back from its correction below $108,000 and is now trading above $117,000. IncomeSharks’ chart reveals a “small support break” that has already been reclaimed, enhancing the bullish argument for further price action. If momentum persists as expected, a decisive test of resistance levels around $124,000 looks imminent.
Additionally, market analyst Ash Crypto has pointed out that Bitcoin is experiencing its strongest September in over ten years. Historically, September has often been a bearish month for cryptocurrencies; however, this year has shown remarkable resilience. The analyst noted that when BTC closed September positively, October and November typically witnessed “giga bullish” trends. Should this pattern continue, he hints that the final quarter of 2025 might initiate a significant bull run.
Featured image from Pixabay, chart from Tradingview.com
