Bitcoin holders may want to rethink their price targets for 2025, with one Bitcoin analyst arguing that $110,000 has been firmly established as Bitcoinās new bottom.
āYou can kind of start lifting some of your targets and saying, āWell, because weāve proven 110, thatās the floor, where do we go from here?ā James Check said in an interview published on YouTube on Thursday.
āWeāve built an enormous base up here at $2 trillion,ā he said, referring to Bitcoinās (BTC) market capitalization, which is currently sitting at around $2.42 trillion. āWe proved a trillion 24, Weāve proved $2 trillion in 25, so now the question is how many trillions,ā he said.
Bitcoin at $95K is a floor, not a ceiling
ā60% plus of the dollars that have ever been invested in Bitcoin is above 95K,ā Check said. āThatās more of a floor than it is a ceiling,ā he added, as holders will not be too interested in selling Bitcoin for less than what they paid for. Check said that the āmost logical thingā is to go to $150,000, which would be an approximately $3 trillion market cap. āItās one of these nice binary setups and markets youāve always got to hold two views at the same time,ā he added.
In December 2024, Galaxy Digital head of digital research Alex Thorn projected that Bitcoin could reach $150,000 in 2025, with potential to climb as high as $185,000.
With several bullish forecasts made this year as high as $250,000, market participants are considering how high Bitcoin might rise and how long it would take.
Bitcoin bulls are in control, says Check
However, Check said there is āno excuse for the marketā to go down to $95,000. āWe have proven that we want higher. The bulls are in control,ā he said. āIf not, the bulls are weak sauce and weāre probably over for a period of time,ā he added.
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