Bitcoin price forecasts are pouring in following Monday’s all-time high, with one analyst projecting the cryptocurrency could climb to $135,000 before a major market correction sets in.
Speaking to CNBC on Monday, Katie Stockton, founder and managing partner at Fairlead Strategies, noted that the nearly two-month consolidation period preceding the breakout now seems like “ancient history.”
Stockton explained that her firm uses “measured move projections” based on breakout patterns, and if the prior uptrend holds, Bitcoin could continue rising before encountering any significant pullback.
“That puts Bitcoin at around $135,000 as an intermediate-term objective.”
Stockton noted that stocks tied to the Bitcoin market, like Coinbase and Strategy, are also poised to perform strongly. “We’re seeing positive momentum across the entire cryptocurrency space,” she said, highlighting the recent movements in Ether and XRP as examples.
Analysts Back Bitcoin Price Forecast
Bitcoin surged out of its multi-week sideways trading range on Monday, hitting a new all-time high of $122,871 on Coinbase before pulling back to below $120,000 in early Tuesday trading.
Katie Stockton’s forecast aligns with a growing number of analysts sharing similar outlooks.
“Following the breakout signal on July 10—which has historically triggered an average 20% rally over the next two months—we estimate Bitcoin could climb to $133,000,” said Markus Thielen, head of research at 10x Research, in a statement to Cointelegraph on Tuesday.
“We expect some near-term consolidation, followed by a push toward $133,000, with our $160,000 year-end target still firmly in sight.”
“Investors are still looking at $150,000 as the next major price level to reach during this cycle,” LVRG Research director Nick Ruck said, adding:
“We remain optimistic that Bitcoin can continue, pending no sudden black swan events.”
Technical analysts have identified the $132,000 to $138,000 range as a “reasonable short-term target” before Bitcoin’s upward momentum begins to fade.
The recent breakout from what appears to be a “bull flag” pattern also points to a potential move toward the $130,000 level, according to market analysis.
Retail Investors Still Largely Absent from Crypto Market
Bitcoin has surged past the $120,000 mark, breaking through a seven-year trendline that had served as a strong resistance level since 2018.
“This is an incredibly bullish signal, especially considering the current market environment,” said Nic Puckrin, investor and founder of The Coin Bureau, in a note shared with Cointelegraph.
However, he emphasized that retail investors have yet to enter the market. “This rally is still being fueled by institutional capital. We’re not seeing the usual indicators of retail interest — like spikes in search traffic or rising crypto app downloads,” Puckrin noted, adding that retail participation likely won’t begin “until we approach $150,000 and FOMO starts to set in.”
Bitcoin is still a tiny asset class
Bitcoin’s surge pushed its market capitalization to $2.4 trillion, allowing it to surpass Amazon and become the world’s fifth-largest asset by market value.
Despite this milestone, Bitcoin remains relatively small compared to major asset classes like gold, equities, real estate, and bonds, noted James Lavish, co-founder of the Bitcoin Opportunity Fund, on Monday.
