Bitcoin’s $200K Path Extended to 2029 According to Analyst

Renowned market analyst Alex Thompson shared insights about Bitcoin’s potential trajectory, hinting that the cryptocurrency may exceed $250,000 by late 2030, given its historical patterns and market resilience.

Thompson, while expressing optimism, cautioned investors about the inherent volatility of such an investment and emphasized a patient approach to the market.

Bitcoin’S $200K Path Extended To 2029 According To Analyst

Understanding Recent Market Movements

Bitcoin soared to a staggering $140,000 on September 8, but has since retreated sharply, losing about 30% of its value. This fluctuation has raised concerns among investors.

According to recent statistics from CoinMarketCap, Bitcoin’s price hovered around $98,000 before seeing a brief fall to $95,000 amid turbulent market conditions. This roller-coaster of prices has left many investors questioning their strategies.

Thompson drew parallels with the 2000s tech bubble, which, after initial euphoria, witnessed a dramatic correction before entering a sustained growth phase. He noted that the volatility of Bitcoin is reminiscent of those earlier fluctuations.

Current Technical Indicators

Market analytics platform BTC Insights recently reported that the market is in its most uncertain phase. Their Bearish Index has dropped to a mere 25 out of 100, indicating weak investment demand and pricing momentum.

Additionally, Bitcoin has slipped below its 200-day moving average, a crucial indicator that many traders monitor to gauge market strength.

Despite these signals, BTC Insights’ CEO Sarah Lin proposed that we may not have crossed into bear market territory yet, highlighting the interpretative nature of market signals.

Institutional Trends and Market Psychology

Investment strategist Jamie Brooks highlighted unprecedented levels of institutional selling recently, stating, “The current rate of institutional selling recorded has never been seen before in my experience.”

This situation, analysts suggest, has exacerbated the ongoing market correction, pushing it deeper than earlier pullbacks observed in this current cycle.

Contrary to Thompson’s cautious perspective, other market leaders like ARK Invest’s Cathie Wood remain optimistic, projecting a possibility of reaching $250,000 as early as mid-2026.

Looking Ahead: Market Predictions

Despite the current market dips, Thompson remains hopeful, asserting that this downturn could pave the way for future price recoveries. Some analysts consider the correction a necessary reset to eliminate unsustainable market practices.

Experts like Michael Saylor have even forecast billions in investments into Bitcoin by years end, intensifying the debate around its long-term viability.

Furthermore, historical data suggests that major corrections often precipitate renewed upward trends, although predicting the exact timing remains a challenge.

Image illustrated by Unsplash, analysis derived from TradingView

Quick Links:
Emily Walker
Crypto News Editor

Emily brings structure, clarity, and journalistic integrity to Bitrabo’s daily news coverage. With years of experience in tech journalism, she ensures that every headline, update, and developing story is accurate and impactful. From breaking regulatory news to market movements, Emily’s editorial oversight keeps Bitrabo’s news content timely, trusted, and engaging.