According to veteran crypto analyst Bob Loukas, the leading digital currency is set to go on an “explosive” run that can propel it to new all-time highs. Loukas had earlier predicted a major upward ride for Bitcoin (BTC). Bitcoin currently trades at $98,287 as of February 21, 2025, after rising 1.56% from the previous closing. The cryptocurrency has fluctuated between a high of $98,782 and a low of $96,776 on the day.
According to Loukas, Bitcoin is forming a consolidation under its 2021 high of $69,000 but the market condition suggests it can break out. He further explains that for this bullish scenario to occur, Bitcoin would have to move above the upper trendline of a broadening wedge pattern by the end of October, which will mark the start of the cycle’s third year.
This positive prediction is consistent with the forecasts of other industry experts. Notably, venture capitalist Chamath Palihapitiya has forecast that growing market forces and acceptance will be the key drivers of Bitcoin’s potential to reach $500,000 by October 2025. Positive comments from powerful leaders like Donald Trump, Jerome Powell, and Vladimir Putin are some of the factors driving the recent boom in the price of Bitcoin. Investor confidence has been additionally boosted by pro-crypto SEC Chair Paul Atkins being appointed by former President Trump and his pro-Bitco comments. Bitcoin’s future is still positive in the opinions of analysts, with some assuming it has the potential to outvalue gold as the most valuable “store of value” asset.
According to price forecasts, Bitcoin may hit $1 million by 2033 and $200,000 in 2025. The limited supply of Bitcoin and high demand still support its ability to increase despite all the previous volatility. According to technical analysis, if the uptrend for Bitcoin continues, it could probe resistance levels of $129,930. Support levels are $90,500 and $80,500. Michael Saylor and others mention that the volatility of Bitcoin is a natural characteristic that makes it an attractive investment. Altogether, the combination of professional analysis, positive market sentiment, and healthy macro environment makes it more likely that Bitcoin is likely to see a significant rally and even new all-time highs.
