The pundit behind the Altcoin Daily show has insisted that Bitcoin would reach $200,000 per coin, suggesting that this bullish target is “obvious.”
Bitcoin has returned above $115,000, and sentiment is gradually shifting back to a positive outlook. The leading cryptocurrency struggled after its new all-time high of $124,457 around mid-August, with the consolidation spilling into early September.
However, with macroeconomic headwinds finally receding and whales now accumulating as opposed to their earlier distribution stance, momentum is beginning to build for Bitcoin again. Analysts are now betting on significantly higher prices, suggesting that Bitcoin is ready to launch to new heights.
Pundit Says Bitcoin Obviously Going to $200,000
One such bullish projection came from the crypto pundit behind the well-known account Altcoin Daily. The account predicted in a Thursday tweet that Bitcoin will reach $200,000, insisting that it is glaring that the pioneering cryptocurrency would attain the price mark.
Bitcoin currently trades at $115,567, with a market cap of $2.3 trillion. A rally to the new high of $200,000 represents a 73% increase from here, taking its valuation to $3.98 trillion. Interestingly, this would make Bitcoin the third-largest asset globally by market capitalization, surpassing Microsoft and Apple at their current standing.
Meanwhile, Altcoin Daily did not provide further context as to why the asset would reach $200,000, nor when it would do so. Nonetheless, the target is commonplace among industry leaders and prominent market analysts.
Bitcoin to $200,000 Predictions
As mentioned earlier, several other predictions all point to Bitcoin reaching the price target by the end of this year. For perspective, Bitwise CIO Matt Hougan predicted that Bitcoin would get $200,000 in 2025.
Banking giant Standard Chartered and brokerage firm Bernstein are among the major institutions that also predict that Bitcoin will hit $200,000 this year. Further, Tom Lee projected that the timeline for Bitcoin to reach $200,000 is Christmas Day 2025, aligning with an outlook from market commentator Ash Crypto.
Major Catalysts for Bitcoin to $200,000
Meanwhile, these projections share a few catalysts in common, one of which is the expected quantitative easing in the United States. The pressure is mounting on the Federal Reserve to cut interest rates, and market analysts expect this to happen in next week’s FOMC meeting.
This event has historically coincided with a Bitcoin rally, as evidenced by the previous rate cut in September 2024. Lower rates encourage investors to borrow money, unlocking new liquidity for the global market, including the crypto sector.
Moreover, the fourth quarter of the year has historically been a period of bullishness for Bitcoin. Some analysts suggest this would be better, particularly as institutional interest is now in the mix. As a result, many predict that Bitcoin will deliver its Q4 bullish returns, with ETFs and treasury firms further fueling the rally.
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.
