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Bitcoin Price Forecast: Analyst Predicts $100K Surge in 30 Days Despite Bearish Trends

Analyst predicts Bitcoin's next impulse could target $100K within 30 days.

Mon, 24 Jun 2024, 04:25 am UTC

Bitcoin, recently dipping to $63,400, faces an 11% decline since June 7. Yet, analyst CrediBULL Crypto remains optimistic, forecasting a potential surge to $100K in 30 days.

Bitcoin Analyst Maintains Bullish Outlook, Predicts Potential Surge to $100K Despite Recent Decline

As CryptoPotato reported, despite recent fluctuations, it's important to note that Bitcoin has weathered more challenging times. It dipped to a low of approximately $63,400 a few days ago, a level last seen approximately one month ago.

Bitcoin's price has experienced a decline of about 11% since June 7, but the performance of altcoins has been even more striking, with a more significant downturn. This stark performance contrast vividly underscores the cryptocurrency market's unique and diverse dynamics.

Despite the current market conditions, CrediBULL Crypto, a respected analyst with a substantial following, has maintained a bullish stance. On June 22, he took to his platform to articulate his positive outlook on the Bitcoin price, offering a comprehensive analysis of the factors underpinning his optimism, which is worth noting.

“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 propel us to $100K within 30 days, and we still have around 6 months left till EOY,” CrediBULL confidently projected.

That said, the price of BTC must increase by a substantial 56.25% to reach $100K from its current level.

However, CrediBULL is not the sole entity with a bullish inclination.

Bernstein Research Revises Bitcoin Price Forecast to $200K by 2025, Potential $1M by 2033

Analysts from the renowned analytics firm Bernstein Research have revised the long-term price forecast for BTC to $200K by the end of 2025. Nevertheless, it is essential to mention that the organization had previously anticipated that Bitcoin would surpass $150,000 during the same time frame.

The analysts also indicated that spot Bitcoin exchange-traded funds could account for approximately 7% of the total circulating supply in 2025. They stated that this would likely be the cycle's peak; however, BTC may reach as high as $1 million by 2033. By then, the ETFs may have captured 15% of the cryptocurrency's circulating supply.

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