Kevin Wadsworth – co-founder of the technical analysis company Northstar & Badcharts – opined that the current cryptocurrency bull market would “conclude before the end of the year” and bitcoin would reach a price of around $100K. The top executive also stated that the primary digital asset’s USD value might exceed $1 million in 2025.
The Bull Market Is Still Yet to Peak
During an interview for Kitco News, Wadsworth shared an optimistic prediction about bitcoin and the cryptocurrency industry in general. Based on his company’s chart reviews, he forecasted that the current bull run of the digital asset market would reach its peak in the upcoming few months:
“I think the crypto bull market probably will conclude before the end of the year. “
Speaking of bitcoin, Wadsworth anticipates its price to increase in “September, October, and presumably November.” He expects to see it escalating to $100,000 during those months. Some of the leading altcoins such as Ethereum could also gain significantly as price surges by 3-4 times are quite possible:
“My target with bitcoin is somewhere close to $100,000. Anything above that is a huge bonus. If we get to $100K, I expect the altcoins – Ethereum and the rest – to triple and quadruple.”
The list of people predicting that bitcoin’s price will reach the milestone of $100,000 sometime soon keeps growing. It includes prominent names such as Jordan Belfort, a. k. a. The Wolf of Wall Street, Tom Lee, a Managing Partner at Fundstrat Global Advisors, Adam Back, CEO at Blockstream.
It is worth noting that even Peter Schiff – one of the biggest BTC bashers – believes the primary virtual asset can climb to such a price level. Despite keeping his negative stance on the matter, the economist admitted that not buying BTC in 2011 when he had first heard about it was a “keen mistake.”
What About BTC Trading at $1M?
Based on the company’s analysis, Kevin Wadsworth drew an even more optimistic future for the primary cryptocurrency: its USD value would skyrocket to $1,000,000 in four years. The British also assured that Northstar & Badcharts’ analysis has a 90-95% success rate when predicting such price events:
“We’d be at $1 million probably around 2025.”
Regarding the short-term price, Wadsworth described himself as “cautiously bullish.” To him breaking above $51,000 is crucial. If BTC does not achieve it, the USD value could head south to a level of $25,000 before starting to rally once again.