The popular market analyst Gert van the law has audiocly supported Bitcoin (BTC) to hit the price of $ 300,000 in the middle of the current bull driving. Van’s prediction comes a few days after establishing a New All-Time High at $ 111 970Signaling a strong rais -like intention to maintain the current price recording
In the past week, the main Cryptocurrency registered a modest price increase of 5.35% because news about US President Donald Trump that recommended a 50% duty for imports from the European Union (EU) forced a small price equipment.
Bitcoin possible exponential growth projects collected at $ 300K
In one X post On May 24, Gert van Van the law shares that BTC price measures since the last cycle in 2021 have resulted in a cup-and-handle formation, which indicates that digital asset is on the edge of a large price eruption.
For context, the copper-and-handle represents a large haussearted continuation pattern that indicates a potential upward crime. In Bitcoin cases, the cup is formed between the end of 2021 and early 2024, as price measures created a rounded bottom, which reflects a decline from a previously all-time-high about $ 69,000, followed by a period of stabilization and recovery, and culminated in a return to that key level.
After reaching this previously high, the price movement retreated and forming a downward or side channel known as the handle and set the stage for a price eruption. This is well reflected in Bitcoin’s price measure from the beginning of 2024 to Q3 2024.
Noteworthy, Bitcoin has since reached this breakout from the copper and handle by crossing the critical market resistance to $ 69,000. Based on linear calculations, Gert van the law explains that the flagship Cryptocurrency is expected to hit a $ 120,000-$ 130,000 price case now within Bitcoin’s reach, given the current market moment.
However, Van the law also notes that the copper-and-handle pattern also points to an exponential price case of $ 300,000. Historically, BTC has previously achieved such logarithmic goals with 100x profits from 2013-2017 and 21X from 2018-2021.
Furthermore, the new importance of institutional capital, especially after the approval of Tot Bitcoin ETFS 2024 supports this Hausse prospects. Although this institutional participation signals long -term confidence, it also reflects BTC’s maturity. Now a $ 2 trillion access, Bitcoin’s large size, can make parabolic traits less frequent, although crypto market vollatility still leaves the potential for significant upwards.
BTC Price overview
At the time of writing, Bitcoin is shopping for $ 107,794 after a less 0.64% profit over the past day. On the monthly chart, the main Cryptocurrency reports the winnings of 16.25% when the bull market remains.
Image from iStock, chart from tradingview
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