Bollinger Bands indicate a significant rise in Bitcoin prices, but how high can they be? — Trading View News

Bitcoin Bitcoin against the dollar More upward volatility may be seen as BTC price returns to key levels, according to a classic technical analysis metric.

In a December 18 post on X, John Bollinger, creator of the Bollinger Band volatility indicator, said that Bitcoin is positioned for an upward breakout.

Bitcoin Bollinger Bands Could Lead to a ‘Rally’

After hitting a new all-time high above $108,000 on December 17, Bitcoin broke through the upper bound of the Bollinger Band (BB) indicator, a barrier that has been elusive since mid-November, data from Cointelegraph Markets Pro and TradingView show. .

This is an encouraging sign from Bitcoin, according to Bollinger. The Bollinger Bands indicator uses the standard deviation around a simple moving average to determine potential price ranges and volatility.

During the past few days, Bitcoin against the dollar The pair recorded daily candles that touched the upper band of the BB line. When this happens, it can signal an impending reversal back to the middle range or a sudden upward volatility.

The recent push to the upper range by Bitcoin adds weight to hopes that the latter scenario may now occur.

“Bitcoin BTCUSD offers Bollinger Band tutorial,” Bollinger commented alongside the chart.

“The classic Bollinger Band squeeze leads to a walk into the upper band.”

The potential for Bitcoin’s price to rise above the current price has led to some new ambitious targets for Bitcoin’s price for 2025 and beyond.

Bitcoin price could reach $350,000 in 2025

According to Mauricio Di Bartolomeo, co-founder of Ledn, the value of Bitcoin will continue to increase as measured in gold, eventually reaching a price equivalent to 50 ounces of gold per Bitcoin.

“I believe Bitcoin will continue to rise in gold value and will reach a price equivalent to 50 ounces of gold,” Bartolomeo wrote in a December 19 Forbes article.

This equates to a BTC price of $132,500 at current rates.

“I expect to see a significant number of portfolio recommendations coming out of ETF issuer research offices and registered investment advisors,” he said, recommending their clients add Bitcoin to their portfolios.

A recent report from BlackRock stated that “investors may prefer to use Bitcoin tactically to hedge against specific risks, similar to gold.”

Bartolomeo said:

“If you are a fully dedicated investor looking to rotate into a Bitcoin position, you may be tempted to reduce the size of your gold position to make room, as you are investing the ‘digital’ version of it.”

Robert Kiyosaki, a vocal advocate for the leading cryptocurrency since 2017, made a more ambitious prediction.

In a December 18 post on X, Kiyosaki set a new target for Bitcoin, predicting that the price could rise to $350,000 in 2025.

Kiyosaki’s number is a more conservative estimate than that of Brian Boring, founder of the Digital Room, who expected $800,000 based on a stock-to-flow model. Such a rise would push Bitcoin’s market value to about $15 trillion, up from its current value of more than $2 trillion.

PlanB, the creator of the stock-to-flow model, expects Bitcoin’s average valuation to be around $500,000 by 2025. However, he said the price could reach $1 million.

This article does not contain investment advice or recommendations. Every investment and trading move involves risks, and readers should conduct their own research when making a decision.