Bitcoin hitting $200K this year ‘very improbable,’ says analyst

Key Points

1. Bitcoin reaching $200,000 in six months is considered 'very improbable' by Glassnode's James Check, as it would nearly double its current market cap.

2. Check notes that Bitcoin has surpassed $120,000, the first stage toward $200,000, but emphasizes the need for sustained volume and follow-through.

3. Other analysts, such as Bitwise's Matt Hougan and anonymous apsk32, predict Bitcoin will hit $200,000 by the end of 2025, citing supply shocks and historical trends.

4. Bernstein Research supports the $200,000 forecast for 2025, attributing it to institutional demand from spot Bitcoin ETFs and BTC treasury investments.

5. Check acknowledges uncertainty in Bitcoin's short-term price movement but remains confident in its long-term growth beyond $200,000.