Popular analyst Alex Becker is convinced that Bitcoin is far from finished in this bull market. He even believes that a target of 150,000 USD is “ridiculously low.” Why? Because he expects more countries, funds and companies to adopt BTC in the coming years.
Bitcoin does not stop at 150,000 USD
“There is absolutely no reason why BTC should stop at 150,000 USD. If we reach that level, there will only be more reasons to go to 250,000-400,000 USD,” crypto analyst Alex Becker explained in a January 16 post.
Everyone and their dog thinks we are entering the final BIG leg of the cycle towards a $150kish Bitcoin.
Call me crazy, but I think we are calling this way to low and way to short.
$150k is only 1/6th the market cap of gold.
We have the biggest funds, nations and corporations…
— Alex Becker 🍊🏆🥇 (@ZssBecker) January 16, 2025
“$150,000 is only 1/6 of the market capitalization of gold. The largest funds, countries and companies all recognize BTC as a store of value and are aiming to accumulate more of it.
So why should we stop at 1/6 of the market capitalization of a rock that is infinitely harder to hold, access and store?” asks Becker.
And if you look at it that way, he does have a point. On the other hand, BTC does have weaknesses compared to gold. BTC is easier to store, but also easier to lose.
Another issue is how to pay miners once subsidies reach zero – a point we’re reaching sooner than you think. Who will mine then? Will it be institutions that own large amounts of BTC?
Bitcoin to 1 million USD
According to Will Clemente, another well-known analyst, it is only a matter of time before we see a BTC price of $1 million.
Once a nation adopts BTC as a strategic reserve asset, it becomes inherently nationalist to DCA into said asset. Then apply this to every nation on Earth that wants to keep its purchasing power simultaneously in game theoretic fashion.
BTC = $1mm
— Will (@WClementeIII) January 16, 2025
“Once countries adopt BTC as a strategic reserve asset, it becomes inherently nationalistic to buy it on a regular basis. This applies to any country in the world that wants to maintain its purchasing power,” Clemente said.
In this way, he expects a BTC price of 1 million dollars.
In a way, he’s right, of course, but the same thing didn’t happen with gold, so why should it be any different with Bitcoin?
- Rising copper price is a bullish signal for Bitcoin - February 7, 2025
- Trade war between the US and China escalates: Chip market in the crosshairs - February 7, 2025
- Crypto market in panic: XRP price falls by 25% due to profit-taking - February 7, 2025