BTC to $300,000? Top Trader Offers Bold Bitcoin Price Forecast

Gert van Lagen, a prominent technical analyst, suggests that Bitcoin (BTC) could rise by more than 472% within the next year.

In his recent analysis, van Lagen notes that the leading cryptocurrency is currently forming a step-like pattern, which consists of price consolidations followed by upward movements, mimicking the steps of an ascending trend.

He observes the presence of an ascending broadening wedge that appears to be at a potential pre-breakout stage. This technical pattern is significant because it tends to break upward 79% of the time, and there is a 67% probability it will lead to a continuation of the prior trend, according to van Lagen.

With this analysis, the trader sets an ambitious target price for Bitcoin at $300,000 per BTC, reflecting a potential increase of 472.44% from its current price. This forecast aligns with van Lagen’s positive outlook on the future of cryptocurrency.

On a shorter time frame, Bitcoin’s price has stabilized around $63,500 per BTC over the past four days. Notably, this range coincides with the 200-day simple moving average, a crucial technical indicator that has acted as a formidable barrier.

As Bitcoin struggles to break above this moving average, traders should remain vigilant for signs of a potential breakout from both this level and the wedge pattern that may follow.