Market Expert Predicts Timeline for Bitcoin to Reach $200K
A market analyst has predicted when Bitcoin could reach the $200,000 price milestone, updating his earlier target upward due to current market realities.Bitcoin (BTC) is currently outperforming market expectations amid the ongoing recovery effort. The firstborn crypto has ripped above the $100,000 resistance milestone, currently holding the $102,000 mark following an impressive 6.4% intraday gain on May 8.Data from pseudonymous market expert, Intuit Trading, the founder of media platform Blockchaindaily, shows that Bitcoin has exceeded his expectations during this uptrend. Bitcoin Exceeds Earlier Target, Eyes $200K by July 2025Earlier last month, the analyst suggested that the crash to $74,000 on April 7 represented Bitcoin's bottom, and the asset could only soar from here. This report came up three days after the crash, on April 10, affirming confidence in the crypto firstborn's potential. Twenty days later, on May 1, Intuit Trading confirmed that Bitcoin had gained 25% since his earlier analysis. Building on the bullishness, he predicted that the asset would continue its bullish run, eventually claiming a new ATH of $136,000 by July 2025. He traced a gray pattern that Bitcoin could follow on this path to $136,000.However, Bitcoin's recent price action has deviated from this path, but on a positive note. Intuit Trading's latest report indicated that the premier crypto asset has moved much faster than he anticipated, suggesting that it would have remained on the gray path if $136,000 was the target by July.Instead, the analyst suggested that Bitcoin is following another path, a yellow trendline, which points to a much higher target by July. According to him, BTC has remained on this yellow line since the bottom on April 7, persistently above the gray one. Interestingly, the yellow line leads to a $200,000 price target by July 2025.
Text source: The Crypto Basic
