The post Bitcoin Price to Hit $200K in 2.5 Months as Re-Accumulation Phase Ends appeared first on Coinpedia Fintech News Bitcoin now looks extremely bullish. In the last five days alone, it has grown by approximately 6.44%. There are enough reasons to believe that buyers are pushing the price upwards strongly. A technical analyst, Gert van Lagen, in his recent X post, predicts that the Bitcoin market could surpass the $200K range in the near future. Sounds exciting, doesn’t it? Let’s dive in for details! Bitcoin’s Explosive Rally: What’s Driving It? It was on December 5 that BTC broke above the $100K range for the first time. Between December 9 and 10, the market suffered a serious correction of 4.48%, pulling the price down to around $96,548.50. On December 11, with a massive single-day upward rise, the market rebounded back to the $100K range, and since then, the price has surged by at least 10.30%. .article-inside-link { margin-left: 0 !important; border: 1px solid #0052CC4D; border-left: 0; border-right: 0; padding: 10px 0; text-align: left; } .entry ul.article-inside-link li { font-size: 14px; line-height: 21px; font-weight: 600; list-style-type: none; margin-bottom: 0; display: inline-block; } .entry ul.article-inside-link li:last-child { display: none; } Also Read : Crypto News Today (Dec 17th, 2024): Bitcoin Hits Fresh ATH of $107k | BGB Price Surges 14.29% , Excitement Among Long-Term BTC Holders Reports suggest that the strong upward momentum has created extreme excitement among long-term cryptocurrency investors. Explaining what has worked in favour of the BTC market, Lagen emphasises that the market has surpassed the re-accumulation phase – generally considered a resistance zone. $BTC [1W] – Bitcoin is blowing off as expected with Long-term holders reaching Euphoria. The gravity of the Re-accumulation pattern has proven to be transcended. With an estimated 2.5 months before a recession begins to take hold, $BTC is on track to surpass $200k soon. pic.twitter.com/qMGFvnWxbU — Gert van Lagen (@GertvanLagen) December 16, 2024 Analyst Prediction: $200K on the Horizon In the first quarter of this year, Bitcoin recorded a quarterly return of over +68.7%. Although in the second and third quarters, the crypto reported lackluster performance, the latest crypto bullish trend indicates that in the fourth and final quarter of this year, the market may outperform its Q1 performance. Crypto Expert’s Optimistic Forecast Expressing his optimistic outlook about the future of Bitcoin, Lagen forecasts that the market would achieve the $200K milestone in the near future itself. Are institutions fueling Bitcoin’s rise? Read the Bitcoin price prediction to find out where this unstoppable surge is headed next! Recession Concern: Impact on Bitcoin Hinting at the possibility of major turmoil in traditional markets, Lagen opines that the global market may face an economic recession within the next two and half months. Bitcoin as a Safe Haven Projecting Bitcoin as a sensible alternative during global market uncertainties, Lagen asserts that the predicted recession would have no negative impact on the BTC market. In conclusion, Bitcoin’s rise towards $200K highlights its growing strength in the financial market. 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As per Coinpedia’s BTC price prediction, 1 BTC could peak at $169,046. What will one Bitcoin be worth in 2030? In 2030, the price of 1 Bitcoin could reach a height of $610,646. What is the highest price of Bitcoin ever recorded? The highest price of Bitcoin ever recorded was approximately $107,780.58 on December 17, 2024 , during the peak of its bull run
