It’s safe to say that Bitcoin’s price has seen better days. Just a couple of days ago, it dropped to a low of around $63,400 – a point that was last observed about a month ago.
Since June 7th, the BTC price has lost about 11%, with altcoins tumbling even harder.
This hasn’t deterred some analysts from remaining bullish, and CrediBULL Crypto is one of them.
$100K Bitcoin Price Still Possible
The well-known crypto analyst with 400,000 followers on X took to the social media platform yesterday to share his thoughts on Bitcoin’s price.
CrediBULL said:
Our last impulse took us from $38K to $73K in 1.5 months. That’s a $35K move in about 50 days.
The impulses that follow should be even more aggressive and we are trading at $64K.
Our next impulse could send us to $100K within 30 days, and we still have around 6 months left till EOY.
That said, for BTC to increase to $100K from its current point, the price needs to increase by a considerable 56.25%.
But CrediBULL is not the only one with a bullish bias.
Bernstein Sees Bitcoin Target $200K by 2025
Analysts from the well-known analytics firm Bernstein Research have recently changed their long-term price forecast for BTC to $200K by the end of 2025.
It’s worth noting, however, that the firm had previously predicted that Bitcoin would reach $150K in the same period.
The analysts also outlined that spot Bitcoin exchange-traded funds might represent about 7% of the total circulating supply in 2025.
They said that this would likely be this cycle’s high, but after that, BTC may go to as high as $1 million by the year 2033. By that time, the ETFs might have captured a considerable 15% of the cryptocurrency’s circulating supply at the time.
