📈 Analyst Predicts $200,000 Bitcoin Price
Crypto analyst Sminston With predicts Bitcoin (BTC) could surpass $200,000, though this may not happen until after 2025. The prediction came as BTC failed to hit the $70,000 mark.
📊 Bitcoin Decay Model Suggests Higher Highs
With posted on October 21, suggesting BTC could hit between $199,106 and $207,623, using the Decay Channel model. This model offers an alternative to the Rainbow Chart and Stock-to-Flow models, accounting for diminishing returns as Bitcoin matures.
📉 On-Chain Data Offers Caution
Despite bullish predictions, on-chain data from the Bitcoin Cycle Top Indicator shows a potential top of around $114,256, based on the 350-day Simple Moving Average (SMA).
💡 Slower Adoption Limits Growth
Jurrien Timmer noted that Bitcoin's adoption curve is lagging behind gold's, which could limit rapid price acceleration in the near term.
🔻 BTC Price Prediction: Potential Drop Below $63,000
Bitcoin recently failed to break out of a rising parallel channel, trading below $67,000. The Relative Strength Index (RSI) suggests bearish momentum, which could lead to a drop to $62,995. If momentum turns bullish, BTC could rise to $69,400 or even $73,000 in the short term.
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