New Bitcoin Price Prediction after 1.4% Increase
Bitcoin could climb higher soon but probably not as high as analysts had predicted earlier on in the year.
Quick overview
- Bitcoin (BTC) has surpassed $112K, gaining 1.4% in the last day and showing bullish momentum.
- The coin's recent trading range above $110,000 indicates resilience, but volatility remains a concern for long-term investors.
- Analysts predict Bitcoin could reach $117K soon, but its inability to maintain record highs raises doubts about hitting $150K this year.
- Economic factors and recent payroll reports may hinder Bitcoin's performance, despite high consumer sentiment for cryptocurrency.
Live BTC/USD Chart
Bitcoin (BTC) is now above $112K and is still climbing, after gaining 1.4% over the last day. Its tight range is indicative of September, meaning that analysts can predict where it might be headed.
Bitcoin climbed to $112,668 (BTC/USD) on Monday morning after a quiet weekend. The coin is up 3.5% for the week and still has bullish momentum. It looks like Bitcoin could move quickly up to $117K in the next few days.
BTC/USDThe recent range for Bitcoin trading has been above $110,000, which is very promising for investors. It means that the coin is resilient and is not being forced below that psychologically important level. If the coin falls too far, it risks alienating investors who are looking for short term profits, and they may bail when the coin’s value dips too low.
A quick upward surge could trigger man short positions to sell, which is what the longer-term investors are scared of. Bitcoin has been volatile recently and has not broken through to a new record high in nearly a month. That puts the coin in a position that is not favorable to long-term investors. They are looking for regular upward movement, and Bitcoin has not given them that in a while.
Bitcoin Prediction Points Toward Middling 2025 Finish
Because the BTC price has not retained its record highs for long this year, it seems like it will finish off the year anywhere close to $150K. That was the number being thrown around earlier in the year for Bitcoin’s expected upper limit, and now the expectations are much lower.
Bitcoin broke its own record high a few times this year, topping out at $124,457 on August 13th. The coin continues to fall after a new high and have trouble holding onto its new gains, which makes it unlikely that it will move as high as $150K this year.
While consumer sentiment is high for cryptocurrency, Bitcoin has not performed as well as Ethereum (ETH) lately, so it will have a tough time gardening as much of the public support it might need to really take off before the year is up. If a new interest rate cut happens, that could help it along, but the last one strangely did little for Bitcoin’s movement. In fact, Bitcoin’s value dropped steeply after that last cut in December of 2024.
Bitcoin is also not being helped by the economic situation. The latest nonfarm payroll report for August was not as good as expected, and Bitcoin is likely to be held back because of it.
What we are likely to see if Bitcoin does surge to $117K soon is that the coin will then fall somewhere between $102K and $108K and pick up a lot of interest from buyers wanting the coin at that value price.
- Check out our free forex signals
- Follow the top economic events on FX Leaders economic calendar
- Trade better, discover more Forex Trading Strategies
- Open a FREE Trading Account
Save