Well-liked market analyst Gert Van Lagen has audaciously backed Bitcoin (BTC) to hit the $300,000 value mark amid the present bull run. Van Lagen’s prediction comes a couple of days after establishing a brand new all-time excessive at $111,970, signaling a robust bullish intent to take care of the present value uptrend
Over the previous week, the premier cryptocurrency registered a modest value achieve of 5.35% as information of US President Donald Trump recommending a 50% tariff on imports from the European Union (EU) compelled a slight value retracement.
Bitcoin Potential Exponential Progress Tasks Rally To $300K
In an X put up on Might 24, Gert Van Lagen shares that BTC value motion for the reason that final cycle in 2021 has resulted in a cup-and-handle formation, suggesting the digital asset is on the sting of a serious value breakout.
For context, the cup-and-handle represents a serious bullish continuation sample that signifies a possible upward breakout. In Bitcoin’s case, the cup varieties between late 2021 and early 2024, as value motion created a rounded backside, reflecting a decline from a former all-time excessive round $69,000, adopted by a interval of stabilization and restoration, culminating in a return to that key degree.
After attaining this prior excessive, value motion pulled again, forming a downward or sideways channel often known as the deal with, setting the stage for a value breakout. That is nicely mirrored in Bitcoin’s value motion from early 2024 to Q3 2024.
Notably, Bitcoin has since achieved this breakout from the cup-and-handle formation by crossing the vital market resistance at $69,000. Primarily based on linear calculations, Gert Van Lagen explains the flagship cryptocurrency is predicted to hit a value goal of $120,000-$130,000 — a projection now inside Bitcoin’s attain, contemplating the present market momentum.
Nevertheless, Van Lagen additionally notes that the cup-and-handle sample additionally factors to an exponential value goal of $300,000. Traditionally, BTC has beforehand achieved such logarithmic targets with beneficial properties of 100x from 2013-2017, and 21x from 2018-2021.
Moreover, the brand new weight of institutional capital, particularly following the approval of spot Bitcoin ETFs in 2024 helps this bullish outlook. Nevertheless, whereas this institutional participation alerts long-term confidence, it additionally displays BTC’s maturation. Now a $2 trillion asset, Bitcoin’s sheer dimension could make parabolic strikes much less frequent, though crypto market volatility nonetheless leaves the potential for important upside.
BTC Worth Overview
At the time of writing, Bitcoin trades at $107,794 following a minor 0.64% achieve prior to now day. On the month-to-month chart, the premier cryptocurrency experiences beneficial properties of 16.25% because the bull market persists.
Featured picture from iStock, chart from Tradingview
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