Bitcoin News
By Sakamoto Nashi
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Bitcoin may not reach the much-anticipated $200,000 mark this year, according to Glassnode lead analyst James Check.
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The warning from Check comes as industry speculation grows, with many calling for a Bitcoin rally past $200,000.
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“$200,000 in six months is a big move — that’s a big move,” said Check, highlighting the sheer scale of such a leap in valuation.
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He stressed that such a rise is theoretically possible but “very improbable” in the short term, especially given the lack of supporting data.
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Check added that he would not consider taking on leveraged positions until he sees a clear uptick in volume and stronger signs of market stability.
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According to Check, Bitcoin must surpass several milestones beyond $120,000 — including $130K, $140K, and $150K — before any talk of $200K becomes realistic.
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Despite his cautious tone, Check remains a long-term believer in Bitcoin. He disclosed that most of his net worth is tied to the asset and is confident that in five years, the…
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Still, not everyone agrees with Check’s near-term outlook. Several analysts continue to support the $200,000 target by late 2025, citing various macroeconomic and institutional…
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Matt Hougan, chief investment officer at Bitwise, predicted in May that Bitcoin would reach $200,000 by the end of next year.
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Likewise, anonymous analyst apsk32 suggested a similar target, based on historical price trends and long-term cycle patterns.
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Bernstein Research also holds a bullish stance. The firm has maintained its $200,000 Bitcoin forecast since October 2024.
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However, not all technical analysts are on board with the bullish outlook. Rekt Capital recently warned that the current market cycle could be nearing the end of its expansion…
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The debate reflects the broader uncertainty surrounding the crypto market. While long-term faith in Bitcoin’s potential remains strong, the path to $200,000 is far from certain.
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For now, Check’s cautious view offers a counterweight to the widespread optimism. While he doesn’t rule out Bitcoin eventually hitting the $200,000 milestone, he makes it clear…
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