- November 28, 2024
- Posted by: admin
- Category: BitCoin, Blockchain, Cryptocurrency, Investments
The post Bitcoin Price Prediction 2025: Gareth Soloway’s $150K-$200K Forecast appeared first on Coinpedia Fintech News
Gareth Soloway, a trader with 25 years of experience, shared his market perspectives in a recent interview with Altcoin Daily Arnold. Reflecting on his journey during the dot-com bubble, Gareth emphasized that his success emerged from learning to read charts, which he likens to becoming “the casino instead of the gambler.”
His insights take him to the troubling economic tensions which he thinks is a catalyst for Bitcoin price. Historically this is true and if that’s the possibility do you think $200,000 will be a realistic target for 2025?
Let’s dive into his analysis to know more.
Short-Term Bitcoin Outlook
Bitcoin recently came closer to the $100,000 mark, but a lack of a breakout led to panic selling by “weak hands.” Gareth predicts that Bitcoin will stabilize around $91,000–$92,000 before resuming its climb. He anticipates a short-term peak of $107,000–$108,000, followed by a pullback to around $74,000–$75,000.
Long-Term Outlook
Looking further ahead, Soloway anticipates that Bitcoin could hit $150,000 by the end of 2025. However, under the right conditions—what Arnold called a “perfect storm”—Bitcoin might even test $200,000. This scenario, according to Soloway, would require continued economic uncertainty, inflationary pressures, and unchecked government spending. “Excessive spending and growing deficits only boost Bitcoin’s adoption as digital gold,” he noted.
Moving on to Ethereum, Gareth suggests focusing on Bitcoin dominance charts. He expects altcoins to outperform Bitcoin soon, which could lower Bitcoin’s dominance. This could be an ideal period for altcoin investments.
Bitcoin’s Current Sentiment
Gareth Soloway underscores the importance of market psychology and technical analysis in trading. While Bitcoin’s road to $150,000–$200,000 looks promising, traders should be prepared for short-term corrections and closely monitor altcoin opportunities on the way.
On the flip side, Bitcoin is struggling to rise above $97,000. If it can’t break that, it might drop, with support levels at $95,750, $95,000, and $93,000. If it falls further, $91,000 could be the next stop.
However, the technical indicators show some positive signs, like the MACD (a momentum indicator) showing bullish movement and the RSI (which tracks whether Bitcoin is overbought or oversold) being above 50, suggesting some strength. But for now, $97,000 and $98,000 are the key levels to watch for resistance.
