Bitcoin could reach a new all-time high of $150,000 before 2025 concludes, as investors seek refuge in safe-haven assets like gold, according to Charles Edwards, founder of Capriole Investments.
Edwards informed Cointelegraph during an interview at Token2049 in Singapore that Bitcoin’s (BTC) recovery above the $120,000 psychological threshold may trigger a “very swift” breakout to $150,000. “I wouldn’t be astonished if we hit $150,000 in a relatively short time, as we need to break out of the $120,000 range. That’s likely coming, potentially in the next few days.”
Bitcoin has surged over 6% in the last week, surpassing the $118,500 mark for the first time since August 15, as reported by Cointelegraph data.
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Edwards’ perspective is more cautious compared to some analysts who anticipate that the current cycle could push Bitcoin above $200,000.
André Dragosch, head of European research at Bitwise Asset Management, shared with Cointelegraph that the integration of crypto into US 401(k) retirement plans could unleash $122 billion in new capital. He noted that even a 1% allocation from retirement managers could drive Bitcoin above $200,000 before the year’s end.
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Four-year crypto market cycle may be “self-fulfilling”
Edwards also forecasted a “just over 50%” likelihood of three positive upward months in the crypto market by year-end. He suggested that the four-year cycle theory remains pertinent and might be “self-fulfilling” as investors manage risks amid cyclic expectations.
“At the end of the day, the primary driver is institutional buying, and if that trends down, my outlook will change significantly,” he stated.
Edwards’ forecasts align with Bitcoin’s historically bullish trend in the last quarter of the year.
Historically, Bitcoin has averaged monthly returns of approximately 20% in October, 46% in November, and around 4% in December, according to CoinGlass data.
Additionally, other analysts are highlighting technical chart patterns, such as an emerging golden cross pattern, which could lead to a Bitcoin price target of approximately $150,000 in the fourth quarter, as Cointelegraph recently reported.
Magazine: Bitcoin to see ‘one more big thrust’ to $150K, ETH pressure builds
