Upcoming Bitcoin estimates could reach as high as $87,500
Bitcoin Blasts Past $87,000: What's Next for the Crypto Giant?
Cryptocurrency's king, Bitcoin (BTC), has surged past its previous high and now eyes the stars.
Following a steady climb over the past few days, Bitcoin took a leap, reaching a staggering $87,500. This price surge attracted the attention of industry bigwigs, with some analysts predicting an even greater ascent in the months ahead.
Prominent crypto figure Scott Melker, aka "The Wolf of All Street" hinted at a potential breakthrough of Bitcoin's all-time high resistance level. If this occurs, Bitcoin would end its ongoing series of higher highs and higher lows.
Another analyst, Javon Marks, noted that the recent spike in Bitcoin price has broken it free from a descending triangle formation. Historically, such breaks foreshadow monumental rallies.
0xNobler, another analyst, speculated that "The Golden Cross" could make an appearance as early as this week. Despite Bitcoin's past performance paling in comparison to its 2020-2021 and 2016-2017 runs, the analyst remains optimistic, predicting that the price may soar as high as $200,000. They also anticipate massive increases in altcoins, ranging from 150-200x.
Is the Bullish Trend Here to Stay?
Several technical indicators suggest that Bitcoin's surge might just be the beginning. For instance, Bitcoin's exchange net flow metric has remained negatively skewed for the past week. This suggests investors are holding onto their BTC instead of selling on exchanges, indicating reduced short-term selling pressure and a potential bullish signal.
However, Ali Martinez, a prominent analyst, pointed out that Bitcoin's price peaks cannot solely be attributed to increased individual investor interest. Martinez argues that the market still has room for growth, as the previous price increase from $70,000 to $119,000 did not spark a rise in individual investor interest.
On the flip side, caution may be warranted. Bitcoin's Relative Strength Index (RSI) has reached overbought levels, suggesting a potential short-term price correction.
Notable Analysts' Take on Bitcoin
While the opinions of Melker, Javon Marks, and 0xNobler are not explicitly mentioned in search results as of April 2025, the broader consensus among analysts is bullish, with several key short-term predictions:
- Coin Bureau CEO Nic Puckrin: Compares Bitcoin’s current consolidation to the pre-breakout pattern of late 2017, hinting at possible explosive upside fueled by rising US buying pressure amid macroeconomic uncertainties.
- Titan of Crypto: Forecasts a Q3 2025 target of $137,000, based on U.S. Treasury liquidity injections and bullish pennant technical patterns.
- Analyst Sentiments: A bearish outlook predicts a correction to $75,000-$70,000, while a bullish forecast suggests a 38% rally to $116,112 by late April, although this view may be considered far-fetched.
Institutional forecasts remain optimistic, with predictions ranging from $200,000 to over $225,000, driven by factors like corporate adoption and macro tailwinds.
In sum, Bitcoin continues to hold a volatile and promising position in the market. Analysts emphasize the importance of liquidity flows and spot ETF traction as critical price drivers, keeping a keen eye on the big players' moves.
- Bitcoin's price surge has reached a staggering $87,500, a feat that has captured the attention of industry bigwigs, including analysts like Scott Melker, Javon Marks, and 0xNobler.
- Javon Marks highlighted a recent spike in Bitcoin's price that has broken it free from a descending triangle formation, an event historically indicative of monumental rallies.
- 0xNobler believes "The Golden Cross" could make an appearance as early as this week, and they anticipate Bitcoin's price soaring as high as $200,000, despite its past performance paling in comparison to its previous runs.
(In this context, 'Golden Cross' refers to a bullish signal in technical analysis that occurs when the shorter-term moving average crosses above the longer-term moving average, often signaling a reversal from a downtrend to an uptrend.)
