- Bitcoin has surged to $108K, just 2% below its all-time high, with analysts eyeing targets up to $200K.
- However, some warn of a potential crash to as low as $2K once the current rally peaks.
Bitcoin is once again making waves in the financial world after breaching the $108,000 mark, putting it just 2% shy of its all-time high. Traders are now setting their sights on $116K, with many predicting the flagship cryptocurrency could surge to new heights — perhaps even hitting $140K or beyond.
Technical analysts are optimistic, citing a powerful bullish pattern that suggests the current rally still has legs. Some projections even point to a potential $200K target if momentum continues. With the U.S. dollar weakening and macroeconomic uncertainty mounting, Bitcoin appears to be regaining its appeal as a hedge against fiat volatility.
Also read: Cardano to Launch Bitcoin DeFi Integration on May 27, Targeting $5.8B Market Opportunity
However, not everyone is riding the hype train.
Some market veterans are warning of an eventual — and dramatic — downturn. A few bold predictions suggest that after this bull run peaks, Bitcoin could undergo a “supercycle correction” that sees its value plummet to as low as $2,000–$3,000. While this might sound extreme, crypto markets have historically followed massive uptrends with painful crashes.
Still, the mood remains cautiously optimistic. Unlike previous cycles, Bitcoin’s leverage levels are currently lower, which may reduce the severity of volatility. Analysts like Michaël van de Poppe argue that this time might be different, with the market maturing and liquidity flows improving.
There’s also talk that central banks, especially the Federal Reserve, might inject liquidity if broader markets falter. Such moves could provide temporary boosts to Bitcoin, but also introduce unpredictability.
For now, Bitcoin’s path looks bullish, with $120K and $150K targets being floated. But seasoned investors are keeping one eye on the charts — and the other on the exit — in case history repeats itself.
Bitcoin is flirting with record highs, but even in the middle of euphoria, the possibility of a brutal correction can’t be ignored. As always in crypto, risk and reward walk hand in hand.
