Fashionable 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 new all-time high at $111,970, signaling a powerful bullish intent to take care of the present value uptrend
Over the previous week, the premier cryptocurrency registered a modest value acquire of 5.35% as information of US President Donald Trump recommending a 50% tariff on imports from the European Union (EU) pressured a slight value retracement.
Bitcoin Potential Exponential Progress Tasks Rally To $300K
In an X post on Could 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 significant value breakout.
For context, the cup-and-handle represents a significant bullish continuation sample that signifies a possible upward breakout. In Bitcoin’s case, the cup kinds 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 stage.
After attaining this prior excessive, value motion pulled again, forming a downward or sideways channel referred to as the deal with, setting the stage for a value breakout. That is properly 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 essential market resistance at $69,000. Based mostly 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.
Nonetheless, 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 features 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. Nonetheless, whereas this institutional participation alerts long-term confidence, it additionally displays BTC’s maturation. Now a $2 trillion asset, Bitcoin’s sheer measurement might make parabolic strikes much less frequent, despite the fact that crypto market volatility nonetheless leaves the potential for vital upside.
BTC Value Overview
On the time of writing, Bitcoin trades at $107,794 following a minor 0.64% acquire previously day. On the month-to-month chart, the premier cryptocurrency reviews features of 16.25% because the bull market persists.
Featured picture from iStock, chart from Tradingview
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