Bitcoin $120K breakout will lead to ‘very quick move’ to $150K: Charles Edwards

1 month ago

Bitcoin whitethorn rally to $150K earlier twelvemonth extremity arsenic gold’s harmless haven surge drives organization demand, according to hedge money laminitis Charles Edwards.

Bitcoin whitethorn surge to a caller all-time precocious of $150,000 earlier the extremity of 2025 arsenic investors heap into safe-haven assets alongside gold, according to Capriole Investments laminitis Charles Edwards.

Bitcoin’s (BTC) betterment supra the $120,000 intelligence people whitethorn pb to a “very quick” breakout to the $150,000 all-time high, Edwards told Cointelegraph during an interrogation astatine Token2049 successful Singapore. “I wouldn’t beryllium amazed if we went up to $150,000 successful a beauteous abbreviated time, similar we person to interruption retired of the $120,000 range. But that’s astir apt coming, perchance successful the adjacent days.”

Bitcoin roseate implicit 6% successful the past week, recovering supra the $118,500 people for the archetypal clip since Aug. 15, Cointelegraph data shows.

Edwards’ outlook is much blimpish than immoderate different analysts, who task the existent rhythm could propulsion Bitcoin supra $200,000.

André Dragosch, caput of European probe astatine Bitwise Asset Management, told Cointelegraph that the inclusion of crypto successful US 401(k) status plans could unlock $122 cardinal successful caller capital. Even a 1% allocation by status managers, helium said, could beryllium capable to assistance Bitcoin supra $200,000 earlier year-end.

Four-year crypto marketplace rhythm whitethorn beryllium “self-fulfilling”

Edwards besides predicted a “just implicit 50%” accidental of 3 affirmative upward months for the crypto marketplace to wrapper up the year. He said the market’s four-year rhythm mentation remains applicable and whitethorn beryllium “self-fulfilling” arsenic investors de-risk amid expectations of cyclicality.

“But astatine the extremity of the day, the driving unit is the organization buying, and if that pivots down, my presumption volition beryllium precise different,” helium said.

Edwards’ predictions are successful enactment with Bitcoin’s historically bullish show during the past 3 months of the year.

Bitcoin has averaged humanities monthly returns of astir 20% successful October, 46% successful November and astir 4% successful December, according to CoinGlass data.

Other analysts are besides pointing to method illustration patterns, including an emerging aureate transverse pattern, that whitethorn effect successful a Bitcoin terms people of astir $150,000 successful the 4th fourth of the year, Cointelegraph precocious reported.