Bitcoin Price Target of $150,000 Is ‘Too Low,’ Says Crypto Expert
Highlights:
- Due to growing investment demand, Bitcoin’s price jumped to $106,000 this week, its highest value since 2025.
- Crypto trader Alex Becker believes that Bitcoin has the potential to reclaim $150,000, but it could go as high as $250,000-$400,000.
- The technical analysis reveals an upward trend, with the key resistance at $106,000 and supports at $98,000 and $92,000.
The crypto market displays a mixed sentiment as the bulls and bears battle for control. Donald Trump’s incoming inauguration and Gary Gensler’s last day in office have fueled the crypto prices. The overall market cap has surged by 0.38% to $3.62 trillion, with a 21% rise in trading volume to $196 billion.
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Bitcoin Price Action
The price of Bitcoin has been seen to fluctuate greatly in the course of this week with very high swings. At the start of the week, it fell from $96,000 to a multi-month low of $89,200. Bulls came into play and pushed the price back to $97,000 within a few hours.
During the middle of the week, the release of US CPI numbers was positive for the market and helped Bitcoin price break $98,500. The cryptocurrency continued with an upward trend and surged past the $100,000 barrier despite a minor dip. This rally is Bitcoin’s biggest since the mid-December all-time high.
On Thursday, Bitcoin hit $106,000, this year’s highest, before slightly reversing its trend. Despite these fluctuations, Bitcoin continues to be buoyant suggesting a continuing high level of investors’ interest. As of this writing, BTC is trading at $104,320, up by 1.04% in the past 24 hours. In addition, its market cap and trading volume have climbed to $2.05T and $68B, respectively.
Why a $150,000 Bitcoin Price Forecast Might Be Unrealistically Low
Crypto trader Alex Becker said that the most popular forecast of $150,000 for Bitcoin is too low. He claims this target is rather low when comparing Bitcoin to the market capitalization of gold. To put it into perspective, at $150,000, Bitcoin would be worth one-sixth of an ounce of gold, according to Becker, which he believes is implausible.
According to Becker, the current Bitcoin cycle is unique because of factors such as changes in dynamics. Unlike the previous years, corporations and nations are now using Bitcoin to store their wealth. Such conditions are backed up by supportive regulation and institutional interest, boosting its growth prospects.
Everyone and their dog thinks we are entering the final BIG leg of the cycle towards a $150kish Bitcoin.
Call me crazy, but I think we are calling this way to low and way to short.
$150k is only 1/6th the market cap of gold.
We have the biggest funds, nations and corporations…
— Alex Becker 🍊🏆🥇 (@ZssBecker) January 16, 2025
He believes Bitcoin’s price may go between $250,000 and $400,000 in this cycle. Becker wonders why Bitcoin would be capped at $150,000 as large institutions are pouring money into it. He noted that a higher market cap is consistent with the general perception of the asset, given its global popularity.
The trader also explains why Bitcoin looks superior to gold, including the ease of storage and usage. This utility makes Bitcoin a perfect choice for preserving wealth. According to Becker, given institutions, increasing usage and support, $150,000 seems like a very low target.
BTC/USD Technical Analysis: Will Bulls Push Bitcoin Price Past the Key Resistance Level?
Looking at the daily technical indicators, Bitcoin price has formed a steady uptrend as the bulls aim for the key resistance at the $106k mark. The $98k level provided which acted as a resistance level recently has been turned into immediate support.
Should the bullish momentum hold, BTC could inch its all-time high at $108k. However, a retrace toward the $100k mark could lead to a break below the $98k mark. Consequently, this could lead BTC to seek support the key support of $92k.
Furthermore, the Relative Strength Index (RSI) indicator displays a bullish outlook for Bitcoin’s price. The RSI is hovering slightly below the overbought region at the 62 index. With the bulls holding the upper hand, the RSI could continue to trend higher, leading to a further rally in the price.
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Raymond Munene
Raymond Munene is a crypto content writer who contributes to Crypto2Community. With over three years of experience, he is interested in Bitcoin, Blockchain, and Technical Analysis. Focusing on daily market analysis, his research helps traders and investors alike. His particular interest in cryptocurrency and blockchain aids his audience.
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