Prominent crypto trader Gert van Lagen has set the crypto world buzzing with his recent analysis suggesting Bitcoin could hit a staggering $200,000 soon. Van Lagen points to Bitcoin’s historical trends of aggressive bull runs and price doubling after setting new all-time highs.
The current Bitcoin chart shows the crypto emerging from a “struggle” phase of tightening ranges, typically preceding a major breakout. Bitcoin has just printed a fresh all-time high over $60,000 – a development that has previously triggered parabolic rallies.
Van Lagen argues that if Bitcoin follows its established pattern of doubling in price within 10 to 84 days of an ATH breach, the psychological $100,000 level is in reach. Once that psychological resistance is broken, $200,000 becomes a realistic target before the next halving event expected to occur on april 2024.
With support at $41,000 looking solid and institutions continuing to adopt Bitcoin, van Lagen’s bold call highlights the immense potential upside many see for the leading cryptocurrency.
Also Read: DeFi Ecosystem Rebounds, TVL Soars Past $100 Billion
