thecryptobasic.com
The price of Bitcoin is on track to at least double if the current breakout proves to be genuine, according to a new analysis by Ecoinometrics.
Bitcoin battled bearish momentum on Wednesday, which saw its price tank to $65,188 after trading at a three-month high of $69,500 on Monday. Meanwhile, a recovery is already in progress. Bitcoin has posted a mild 0.3% gain today, trading at $67,132.
While opinions vary on whether Bitcoin will surpass $70,000 or drop below $60,000, Ecoinometrics has provided a bold analysis suggesting that Bitcoin’s price must at least double in the next 12 months.
Why Bitcoin Could Experience “At Least” 100% Price Growth
The bullish projection assumes that both Bitcoin and the broader stock market will maintain strong positive momentum over the next year. Under this scenario, the median expectation is for Bitcoin to gain about 100%, potentially pushing its value into the $130,000 range by late 2025.
However, the 5th percentile in the simulation indicates a more conservative outlook, projecting a potential loss of 26% if momentum falters over the next 12 months.
Conversely, the 95th percentile in the simulation suggests even more aggressive gains. Specifically, it projects cumulative returns reaching up to 465% if momentum surges beyond expectations.
Crucial Support Bitcoin Must Maintain to Confirm a Sustainable Uptrend
The analysis also acknowledged signs of market overheating, which may pose challenges to this projection.
Bitcoin has been in an uptrend since September 18, following the Fed’s interest rate cut. Since then, the leading asset has increased by over 20% from $57,628. Although it briefly revisited the $59,000 level earlier this month, the retracement led to a stronger rebound to $69,500 by October 21.
Bitcoin continues to struggle around this threshold, with market participants on edge for the next decisive movement.
Ecoinometrics emphasized that Bitcoin’s ability to sustain itself above $65,000 is crucial for maintaining a strong long-term outlook. Analyst Rekt Capital expressed similar optimism. He noted that Bitcoin’s prospects remain promising as long as it stays above $66,000 by the end of the week.
While Ecoinometrics argues for the $130,000 level as Bitcoin’s minimum target in a continued bull run, analysts at Bernstein have released a fresh analysis suggesting that even $200,000 will be Bitcoin’s conservative price outlook by 2025.