TradingView analysts predict bitcoin to reach $200,000

Analysts from the web service TradingView have concluded that the current position of Bitcoin closely resembles the market structure observed between 2014 and 2017, potentially opening up the cryptocurrency to reach the $200,000 mark. The corresponding report was published on the platform's website.

It is expected that if Bitcoin continues to follow the 2017 model, it will reach a new local bottom at $90,000, which will serve as a starting point for a new significant increase in the value of the digital currency. Analysts emphasize that such corrections in the past have led to accelerated price growth.

Previously, Jeff Kendrick, an analyst at banking giant Standard Chartered, expressed a similar scenario, noting that Bitcoin could reach $200,000 by 2025, partly due to institutional interest fueled by optimism surrounding the U.S. presidential elections involving Donald Trump.

Earlier, we reported that analysts from the Bitwise platform forecast Bitcoin's value to rise to $200,000 in 2025, while Ethereum and Solana are expected to increase in price to $7,000 and $750, respectively.