A Russian expert has claimed that Bitcoin (BTC) could reach the $140k mark in the current bear market, but claimed a rise to $200k was out of reach for now.
The claim came from Finam analyst Nikita Stepanov, who said that Bitcoin is yet to hit its “peak price” in the current “cycle.”
“According to rough estimates, Bitcoin’s peak may be around the $140,000 mark. The level of $200 thousand, if it is reached at all, will definitely not come about in this cycle.”
Stepanov
BTC Could Reach 140k, Analyst Claims
The analyst was speaking to the state-run news agency TASS, which also interviewed Vladislav Antonov, a financial analyst at BitRiver, Russia’s biggest crypto mining player.
Bitcoin hits $100,000 as Trump era hopes grow https://t.co/LiOvBIj0FX
— Financial Times (@FT) December 5, 2024
Antonov said that Bitcoin was currently in a “consolidation phase,” with the market effectively “taking a short break after a period of strong growth.” He said:
“The current sideways movement under the $100,000 level may last until mid-December, which will create a healthy technical basis for further movement. My calculations show that the nearest target levels are in the $112,000 to 130,000 bracket.”
Bullish Sentiments in Russian Reports?
Before 2024, it was somewhat uncommon to see such seemingly bullish sentiments reported in Russian state-run media outlets.
However, Moscow is becoming increasingly crypto-keen, and has earmarked tokens as tools to help it evade sanctions.
“It is important to understand the psychology of the market. It never allows everyone to earn at once. First, it will shake off emotional and unprepared players. And then continue its journey to the Moon.”
Antonov
The BitRiver expert added that 2025 would see “changes in US regulatory policy” that “could become a powerful catalyst for cryptocurrencies.”
A tanker hauling Russian crude from the Baltic Sea to India that was observed heading toward the Shetland Islands makes a sudden turn https://t.co/G2oVz5Swjz
— Bloomberg (@business) December 9, 2024
“We are not just talking about the decriminalization of the cryptocurrency market. We are also talking about the potential integration of Bitcoin into US national financial strategy.”
Antonov
And the BitRiver analyst said he expected a growth in prices ranging from a more “conservative” $130k to a more “optimistic” ceiling of $160k by “mid-summer 2025.”
Alt Season Predictions
Antonov also said that “alt season” is “already in its active phase,” although the Finam expert disagreed, saying:
“Altcoin season will only begin when the main growth potential of Bitcoin is exhausted, and liquidity flows from BTC to other coins.”
Syria's former President Bashar al-Assad is in Moscow with his family after Russia granted them asylum on humanitarian grounds and a deal has been done to ensure the safety of Russian military bases, Russian news agencies confirmed https://t.co/iDjEx1gozP pic.twitter.com/H8sDwTABsZ
— Reuters (@Reuters) December 9, 2024
Stepanov added that he expects the BTC and wider crypto markets to “peak before the fall of 2025.”
However, he claimed that much would depend on the health of the American economy.
“If a recession takes hold in the US, then all bets are off.”
Stepanov
Stepanov noted that predicting movements and price rises in the altcoin market was tricky. He explained:
“The problem with altcoins is that due to the lack of reporting, they cannot be assessed in any way. As such it is hard to assess their fundamental value. You can only focus on what large funds are holding.”
TASS also quoted a Binance spokesperson as explaining:
“The rhetoric around building a strategic reserve of Bitcoin in the United States and potential changes in legislation are further strengthening investor confidence.”
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