Bitcoin’s Next Boom? Analyst Predicts $185,000 Target Based on Supply Shock Trends

The most popular cryptocurrency in the world might be on its way to a new all-time high. Crypto researcher Francois recently predicted that Bitcoin might rise to $185,000 in this market cycle, thanks to strong on-chain metrics and a historic supply squeeze that happened after the halving.

Francois’s projection is based on Bitcoin’s past trends, specifically the typical four-year halving cycle. Every halving cut miner rewards in half, which means there are fewer new Bitcoins. The most recent halving in April 2024 set off the same kinds of events as in previous cycles, which were generally followed by big rallies. Francois said that Bitcoin usually reaches its highest position 12 to 18 months after each halving, which is a pattern that has also been seen in past bull runs. His tweet has gotten both new and experienced investors talking.

Institutional Demand Is Rising

Demand is going rising while supply is getting tighter. Glassnode says that long-term holders are buying more Bitcoin, which is increasing the amount of Bitcoin that isn’t being traded to new highs. BlackRock and other companies have put billions of dollars into Bitcoin ETFs, which has added new liquidity to the market. These changes are changing the crypto environment in the US, making it easier than ever to get Bitcoin.

Market experts at Bloomberg and CoinShares agree with Francois’s positive outlook, saying that more tech-savvy millennials and Gen Z investors are getting into crypto. Experts, on the other hand, warn investors to be careful because volatility is always a part of crypto.

No matter if Bitcoin hits $185,000 or not, something significant is certainly about to happen.

Also read: XRP Price on the Brink of Breakout as SEC Decision Looms and Market Eyes Key Catalysts