Bitcoin expert foresees price escalation due to returning bullish signal - Could Bitcoin achieve a fresh record high?
In a significant turn of events, the nomination of Stephen Miran to the Federal Reserve Board has sent ripples through the crypto community, boosting pro-crypto sentiment and adding to the factors supporting a possible convergence of another significant Bitcoin rally.
Stephen Miran, a known Bitcoin supporter, is seen as a robust complement to the technical momentum in Bitcoin. The current long-term Bitcoin price forecast, based on the golden cross pattern and on-chain metrics, generally projects a strong bullish outlook. According to various forecasts, Bitcoin could reach prices ranging between $140,000 and $200,000 by the end of 2025. Some forecasts are even more optimistic, expecting Bitcoin to reach $240,000 to $250,000 depending on institutional adoption and regulatory clarity.
The golden cross, a bullish technical pattern where the 50-day moving average crosses above the 200-day moving average, is signaling strong upward momentum for Bitcoin. This pattern historically precedes sustained price increases, supporting forecasts above $140,000 by late 2025. On-chain metrics such as increasing wallet addresses and declining exchange balances indicate holders are accumulating and not selling, which strengthens the price sustainability narrative. These metrics align well with technical models using Fibonacci retracement levels that place key resistance and psychological price points around $180,000 to $200,000.
Institutional inflows through Bitcoin ETFs and clearer regulations, such as the EU MiCA framework, bolster demand and accessibility, further underpinning bullish sentiment. Expert consensus from reputable forecasters, including Standard Chartered and noted analysts like Mike Novogratz and Peter Brandt, predict Bitcoin could surpass all-time highs, with many targets near or above $200,000 in 2025. Some speculate institutional and national adoption could push the price toward $250,000 or beyond.
Technical indicators like RSI and MACD remain in bullish territories without signals of exhaustion, indicating the upward trend is sustainable in the medium term. However, it's worth noting that RSI is currently at 53, a neutral momentum, and a failure to maintain above the trendline may provoke a correction to the level of $112K.
In the past, golden crosses in 2016, 2017, and 2020 were followed by rallies of 139%, 2200%, and 1190% respectively. The MVRV Z-score, at 2.667, is not overheated yet, indicating that it has the potential to grow without indicating the maximum market risk. The Stock-to-Flow (S2F) ratio has hit a new high at 154, indicating that Bitcoin is becoming scarcer and generally a sign of solid demand cycles.
Market analyst Merlijn The Trader has indicated that the recent golden cross on the Bitcoin weekly chart, a pattern he describes as "the signal that never misses," may serve as rocket fuel for a potential Bitcoin price surge. On the daily chart, Bitcoin is currently trading around the $116K mark with the $117.5K as the immediate resistance. A breakout above this zone could pave way to $121K and $123.8K.
The nomination of Stephen Miran does not affect the current state of S2F or MVRV, which shows rising scarcity and bullish but sustainable momentum respectively. However, it adds to the existing bullish structure, offering possible macro support to the Bitcoin direction. Policy changes may serve as a tailwind in Q4, offering potential macro support to the Bitcoin direction. If conditions continue, Bitcoin price may be setting up for a big move in the coming months.
Looser monetary conditions have historically been beneficial to Bitcoin and other risk assets, particularly at the beginning of a bull cycle. If conditions continue, the nomination of Stephen Miran may contribute to Bitcoin price setting up for a big move in the coming months. It's important to note that while these factors point towards a bullish outlook, investing in Bitcoin carries inherent risks and should only be done with careful consideration.
- Stephen Miran's nomination to the Federal Reserve Board has boosted pro-crypto sentiment, contributing to the possible convergence of another significant Bitcoin rally.
- Known as a Bitcoin supporter, Stephen Miran is seen as a robust complement to the technical momentum in Bitcoin.
- The current long-term Bitcoin price forecast, based on the golden cross pattern and on-chain metrics, generally projects a strong bullish outlook.
- Some forecasts predict Bitcoin could reach $240,000 to $250,000 depending on institutional adoption and regulatory clarity by the end of 2025.
- The golden cross pattern signals strong upward momentum for Bitcoin and historically precedes sustained price increases.
- Institutional inflows and clearer regulations bolster demand and accessibility, underpinning the bullish sentiment towards Bitcoin.
- Market analyst Merlijn The Trader suggests the recent golden cross on the Bitcoin weekly chart could serve as rocket fuel for a potential Bitcoin price surge, potentially setting up for a big move in the coming months.
