A market analyst has predicted when Bitcoin could reach the $200,000 price milestone, updating his earlier target upward due to current market realities.
Bitcoin (BTC) is currently outperforming market expectations amid the ongoing recovery effort. The firstborn crypto has ripped above the $100,000 resistance milestone, currently holding the $102,000 mark following an impressive 6.4% intraday gain on May 8.
Data from pseudonymous market expert, Intuit Trading, the founder of media platform Blockchaindaily, shows that Bitcoin has exceeded his expectations during this uptrend.
Bitcoin Exceeds Earlier Target, Eyes $200K by July 2025
Earlier last month, the analyst suggested that the crash to $74,000 on April 7 represented Bitcoin’s bottom, and the asset could only soar from here. This report came up three days after the crash, on April 10, affirming confidence in the crypto firstborn’s potential.
Twenty days later, on May 1, Intuit Trading confirmed that Bitcoin had gained 25% since his earlier analysis. Building on the bullishness, he predicted that the asset would continue its bullish run, eventually claiming a new ATH of $136,000 by July 2025. He traced a gray pattern that Bitcoin could follow on this path to $136,000.
However, Bitcoin’s recent price action has deviated from this path, but on a positive note. Intuit Trading’s latest report indicated that the premier crypto asset has moved much faster than he anticipated, suggesting that it would have remained on the gray path if $136,000 was the target by July.
Instead, the analyst suggested that Bitcoin is following another path, a yellow trendline, which points to a much higher target by July. According to him, BTC has remained on this yellow line since the bottom on April 7, persistently above the gray one. Interestingly, the yellow line leads to a $200,000 price target by July 2025.
Notably, several analysts have also projected a Bitcoin run to $200K. For instance, Dan Gambardello also argued last month that the bottom is in, predicting a rally to $200K. Further, leading asset manager Bitwise also predicted a BTC upsurge to $200K by year-end. Bernstein analysts also expect Bitcoin to reach $200K by the end of this year.
Analysts Growing Increasingly Bullish
Meanwhile, amid the recent recovery, analysts are now growing increasingly bullish. For one, Ki Young Ju, founder of CryptoQuant, admitted he was wrong when he suggested the Bitcoin bull run was over back in March.
Two months ago, I said the bull cycle was over, but I was wrong. #Bitcoin selling pressure is easing, and massive inflows are coming through ETFs.
In the past, the Bitcoin market was pretty simple. The main players were old whales, miners, and new retail investors, basically… pic.twitter.com/oN4n6vNc0s
— Ki Young Ju (@ki_young_ju) May 9, 2025
According to him, the market is currently absorbing new liquidity, and the 4-year cycle theory might be useless now as the Bitcoin market grows incredibly diverse. Still, he insisted that most indicators are not showing clear bullish or bearish signals but lying around the borderlines.
Also, Julien Bittel, a Chartered Financial Analyst and Head of Macro Research at GMI, provided an update to the Bitcoin chart against the Global M2 supply chart. Interestingly, the comparison shows that Bitcoin has continued to follow the trajectory of the M2 money supply since 2023.
Currently, the global M2 money supply has risen to surpass the $110 trillion mark, with Bitcoin looking to maintain the correlation. If the correlation persists, then Bitcoin still has some upside potential, with a possible rally to the $160,000 mark. At press time, Bitcoin changes hands at $102,991, up 3.8% over the past 24 hours.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
