After a brief dip below $90k earlier this week, Bitcoin (BTC) has been on a steady rise, leaving many wondering if the cryptocurrency is gearing up for its next big move. On Thursday, January 16, Bitcoin surged past a key resistance level of around $97.6K, reaching $99.2K during the mid-London session.
Could this be the start of a new chapter for Bitcoin?
Bitcoin is now facing a significant psychological resistance zone between $100k and $108k. A break above this range could trigger a new bull rally, potentially leading to new all-time highs. Meanwhile, the price of gold is also preparing for a potential bull run after breaking through a key downward trend at $2,697.
According to a report from CryptoQuant, Bitcoin has not yet reached the peak of the 2024/2025 bull market, based on several key indicators. After bouncing back from below $90k, Bitcoin is now possibly entering a phase of horizontal consolidation, setting the stage for further gains.
CryptoQuant has shared several possible price targets for Bitcoin. On the high end, Bitcoin could reach $249k, with a market cap of around $4.969 trillion. In a more moderate scenario, the price could hit $197K by 2025, corresponding to a market cap of about $3.929 trillion.
On the lower end, Bitcoin could reach $145K, implying a market cap of approximately $2.88 trillion.
A parabolic rally for Bitcoin could set off the much-anticipated altcoin season in the months ahead. Additionally, Bitcoin’s dominance has shown signs of a macro reversal after a year of rising steadily.
With Bitcoin’s future looking brighter than ever, the next few months could prove key, shaping the market’s direction for years to come.
In 2030, the price of 1 Bitcoin could reach a height of $610,646.
As per our latest BTC price analysis, the Bitcoin could reach a maximum price of $5,148,828.
By 2050, a single BTC price could go as high as $12,436,545.
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