Bitcoin rose to $ 120,000

Bitcoin BTC $122,465.00 Mezo Wrapped BTC 1.59% Market capitalization $43.11 million VOL. 24 hours $2.48 billion has surpassed $ 120,000 for the first time in six weeks amid weak US employment data, a government shutdown, and growing expectations of lower interest rates.

Analysts point to several technical signals that indicate a potential continuation of growth. One of the key indicators is the Pi Cycle Top, which predicts price peaks based on 111-day and 350-day moving averages. Currently, it is 65% below the «danger zone,» which means there is still room for further growth.

Optimistic forecasts suggest the possibility of reaching $ 200,000 by the end of 2025. In August, the analytical company Bitwise stated that it expects this level to be reached by the end of the year. Other analysts draw attention to the logarithmic growth channel of bitcoin and technical signals that indicate the uptrend will continue. Some even compare its current dynamics to the gold rally of the 1970s, emphasizing that bitcoin, as «digital gold,» can repeat this scenario.

Seasonality adds to the optimism. According to Coinglass, the average return on bitcoin in the fourth quarter was 79.26%. If this figure is repeated, the price could rise above $ 215,000 from current levels.

However, not everyone agrees with this scenario. Lawyer and bitcoin supporter Joe Carlasare believes that it is almost impossible to reach $ 200,000 in three months. He notes that for this to happen, bitcoin must add $ 850 every day without serious corrections, which happened only a few times in history before 2018. In addition, the higher the price, the more capital is needed to maintain it, and at levels between $ 150,000 and $ 190,000, the market will face significant sales.