Glassnode co-founders Jan Happel and Yan Allemann have predicted that the worth of Bitcoin (BTC) may attain the height of the present cycle inside simply 4 or 5 weeks.
As reported by U.As we speak, the flagship cryptocurrency reached a brand new report excessive of $125,708 on the Bitstamp change.
Nonetheless, it didn’t enter a brand new value discovery stage and gave up most of its features, slipping beneath the $123,000 stage earlier as we speak.
Thus far, the sudden value bounce seems to be like a typical Sunday fakeout, and it’s unclear whether or not one thing substantive will really come out of the latest rally.
Will the bull run proceed?
Numerous pundits, comparable to Tom Lee, imagine that the cryptocurrency may surpass $200,000 this 12 months. Nonetheless, that is extraordinarily unlikely to occur inside the comparatively quick span of time that was talked about by the Glassnode analysts.
In keeping with Polymarket bettors, Bitcoin has solely a 1% likelihood of surging to $200,000 this month. The chances of BTC ultimately surpassing this stage through the the rest of 2025 presently stand at 7%.
Some bulls imagine that BTC nonetheless has extra room to run as a result of the truth that the cryptocurrency continues to be underperforming by as a lot as 10% regardless of the latest features. If Bitcoin had been to reclaim its 2021 peak towards the yellow steel, its value could be buying and selling above $150,000 (assuming that the gold value stays flat).