One Bitcoin analyst claims that $110,000 is firmly established as Bitcoin’s new bottom, and Bitcoin holders may want to reconsider their 2025 price target.
“You can raise some of your goals and say, ‘Well, we’ve proven 110, so that’s the floor. Where do we go from here?'” James Cech said in an interview published on YouTube on Thursday.
“We’ve built a huge $2 trillion foundation here,” he said, referring to Bitcoin’s (BTC) market capitalization, which currently stands at about $2.42 trillion. “We certified $1 trillion (in 2024) and $2 trillion in (2025). So now the question is how many trillion?” he said.
$95,000 Bitcoin is a floor, not a ceiling
“More than 60% of the dollars invested in Bitcoin to date have exceeded $95,000,” Cech said. “This is more of a floor than a ceiling,” he added, as holders are less interested in selling their Bitcoin for less than they paid for it.
Cech said the “most logical” thing would be to reach $150,000, which would equate to a market capitalization of about $3 trillion. “This is one of those great binary settings and markets where you always have to hold two views at the same time,” he added.
James Check spoke with Marty on Thursday’s TFTC Podcast. sauce: TFTC
In December 2024, Alex Thorne, head of digital research at Galaxy Digital, predicted that Bitcoin would reach $150,000 in 2025 and could rise as high as $185,000.
With some bullish predictions for Bitcoin to reach $250,000 this year, market participants are considering how high Bitcoin will rise and how long it will take.
Cech says Bitcoin bulls are in control
But Cech said there was “no excuse for the market” to drop to $95,000. “We’ve proven we want higher. The bulls are in control,” he said.
“If not, the bull is a weak source and we will probably be out for a period of time,” he added.
Related: Record $88 Billion Open Interest Raises ‘Flash’ Concerns, Bitcoin Set to Compress
According to CoinMarketCap, Bitcoin was trading at $121,392 at the time of publication, up just 0.80% over the past seven days. An increase to $150,000 would represent a 23.50% increase from the current price.
Charles Edwards, founder of Capriol Investments, also thinks a move to $150,000 may not be far away. On October 2, he claimed that if Bitcoin regains the psychological mark of $120,000, it could lead to a “very quick” break to its all-time high of $150,000.
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