A prominent crypto analyst has forecasted a nearly fourfold increase in Bitcoin's (CRYPTO: BTC) value by the close of 2025.
The analyst, who uses the pseudonym Pentoshi, shared this optimistic outlook on X, formerly Twitter, on Friday, pointing to the "beautiful" patterns emerging on Bitcoin's three-day chart.
Pentoshi suggested a 277% surge from current levels is within reach over the next 22 months, potentially pushing Bitcoin's price to $180,000.
"This is beautiful. I think it's possible we see $BTC at 180k by the end of 2025. Keep in mind, it's just a guess. And I certainly don't feel it's all that crazy with where the world is at, and going. If for any reason, something happens or new information comes to light then obviously I will admit I'm wrong," Pentoshi said on X.
Pentoshi's projection is based on several factors, including the approval of spot Bitcoin exchange-traded funds (ETFs) and the growing interest from the wealthiest generation.
“Our entire asset class is smaller than individual stocks boomers bid up every day. Look how they gobbled up and swallowed the GBTC (Grayscale Bitcoin Trust) supply. What makes you think BTC won’t be a $5 trillion asset in the next several years?” Pentoshi asked.
Our entire asset class is smaller that individual stocks boomers bid up every day. Look how they gobbled up and swallowed the GBTC supply
What makes you think $btc won’t be a 5 trillion asset in the next several years? What does that mean for the rest of the space.
— Pentoshi euroPeng � (@Pentosh1) February 9, 2024
The crypto analyst also said that the BTC should continue to trade like it has a finite supply "and like fiat money is unlimited for a long enough time frame."
$btc should continue to trade like it has finite supply, and like fiat money is unlimited on a long enough time frame
— Pentoshi euroPeng � (@Pentosh1) February 8, 2024
At the time of writing, Bitcoin was trading at $48,164.61, with a market cap just shy of $1 trillion.