Analyst Mags identifies bullish patterns in the Bitcoin chart, signaling a potential new all-time high based on long-term trendlines.
Bitcoin recently moved from around $106,000 on May 22 to a peak just above $111,000. However, this gain faced resistance, and the price dropped to near $107,000 by May 25. Despite this volatility, analysts forecast significant upside potential later in 2025.
Technical Patterns Suggest Higher Price Targets
An analyst known as Mags highlights two key bullish formations shaping Bitcoin’s outlook: an ascending triangle and a rising wedge. Notably, the upper ascending trendline connects Bitcoin’s all-time highs (ATHs) starting with the December 2017 peak near $19,712.
This trendline also runs through the November 2021 ATH above $66,000, projecting toward another ATH around 2025 or 2026.
Meanwhile, the ascending triangle is framed by two main upward trendlines. The lower trendline provides solid support, beginning in late 2022 and holding through multiple dips.
For instance, it supported Bitcoin at about $15,700 in November 2022, around $25,000 in September 2023, and near $76,000 in April 2025. On the upper side, resistance has repeatedly capped price rallies, holding below $35,000 and $75,000 in 2021, and more recently below $108,000 in late 2024.
Together, these patterns suggest Bitcoin may target a new peak between $295,000 and $300,000 by mid-to-late 2025. This would require a surge of approximately 170.6% from the current $109,003 price level.
Standard Chartered Projects Aggressive Growth
Supporting this view, Standard Chartered’s latest research anticipates strong Bitcoin performance through 2028. The bank forecasts Bitcoin reaching $200,000 by the end of 2025 and $300,000 in 2026.
Furthermore, it expects Bitcoin to climb to $400,000 in 2027 and peak at $500,000 by 2028. This $500,000 level is projected to remain stable through 2029.
Institutional Influence Could Drive Market Expansion
At the recent Bitcoin Conference in Las Vegas, Strategy executive chairman Michael Saylor outlined key market dynamics affecting Bitcoin’s future valuation.
He highlighted the impact of growing Wall Street ownership on Bitcoin’s market cap, which could reach $20 trillion. According to Saylor, if Wall Street’s ownership rises from 5% to 10%, Bitcoin’s price could hit approximately $1 million per coin.
Saylor explained that at 5% ownership, Wall Street controls about $2.5 trillion of Bitcoin, while the remaining $47.5 trillion remains with global investors outside Wall Street. Increasing this share to 10% would imply a total market valuation near $20 trillion, with $18 trillion still held by non-Wall Street investors.
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.
