Bitcoin price predictions continue to stir discussions as experts forecast upcoming months, focusing on the actions of institutional investors.
John Deaton's Predictions
XRP lawyer John Deaton predicts a significant rise in Bitcoin’s price next year, estimating it between $180,000 and $250,000. He claims this is due to an increase in institutional investments despite macroeconomic challenges.
Deaton also believes MicroStrategy's stock could rise above $500 during this rally, with the current stock price at $358. However, he expresses concerns over a potential sharp correction, forecasting a 30-40% decline, which could negatively impact MicroStrategy.
Metaplanet's Strategy
Tokyo-listed Metaplanet recently added another 103 BTC to its holdings, bringing its total to 18,991 BTC. Since April 2024, the company has invested $1.95 billion, with an average purchase price of $102,712 per Bitcoin.
The firm also issued 4.9 million new shares to fund its BTC acquisitions, increasing the total number of shares to 722 million. Analysts suggest that such strategy may attract institutional capital to the cryptocurrency industry in the long run.
Current Technical Situation in the Market
Analyst Axel Adler Jr points to increasing selling pressure on exchanges, as large holders are offloading assets without risk management tools. He cautions that net flows are nearing a point where sellers may overwhelm buyers.
Meanwhile, other analysts like Merlijn The Trader warn of a potential double top near $112,000, which could lead to cascading liquidations. Historical data suggests that September can bring false rallies, while October often marks recovery phases.
Despite short-term concerns, the overall optimistic outlook for Bitcoin, supported by institutional purchases and technical analyses, suggests that the cryptocurrency may be on the brink of another significant rise.
