Sminston With, a crypto analyst, has predicted that Bitcoin’s (BTC) price could surpass $200,000. This forecast came on the same day that the Bitcoin price failed to hit the widely expected $70,000 mark.
However, With suggests that the prediction might not come to pass this year or next. In this analysis, the platform reveals how the analyst arrived at this conclusion and whether Bitcoin has a chance of hitting this target.
Bitcoin Decay Model Suggests Higher Highs, Analyst Reveals
On Monday, October 21, With posted on X (formerly Twitter), saying that BTC could hit between $199,106 and $207,623. The analyst came to this conclusion after evaluating the Decay Channel model.
The decay model was designed to challenge previous prediction models, particularly the widely recognized Rainbow Chart and Stock-to-Flow (S2F) model. Both of these earlier models have been influential in forecasting Bitcoin’s price movements.
Read more: Top 7 Platforms To Earn Bitcoin Sign-Up Bonuses in 2024
Still, the decay model presents an alternative perspective by incorporating factors that may account for diminishing returns and slowing growth as the asset matures, as shown below. Interestingly, this forecast is another analyst’s prediction for Bitcoin, which predicts that the coin could reach $200,000 in 2025.
“Depending on the regression method used, linear or nonlinear, the upper bound of decay on January 1st, 2026, looks to be either $199,106 or $207,623. Even with this much decay, this is bullish!” With
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Author: Victor Olanrewaju
