Bitcoin is unlikely to reach $200,000 this year due to lack of increasing buying volume, according to a crypto analyst. Glassnode lead analyst James Check stated that the current price of $119,541 would need to almost double to reach that target.

Check believes that Bitcoin hitting $200,000 by year-end is possible but very improbable without significant volume increase. He cautioned against leveraged positions until the market stabilizes and volume picks up to support the price rise.

Despite surpassing $120,000, Bitcoin still has multiple stages to go through to reach $200,000. Check emphasized the importance of strong, stable support to prevent a rapid price fall and warned about trading through air without follow-through.

Analysts, including Matt Hougan and apsk32, are optimistic about Bitcoin reaching $200,000 by the end of 2025. Long-term trend patterns and increased institutional demand are cited as factors supporting this target, with some forecasts dating back to late last year.

Bernstein Research has also forecasted a $200,000 price for Bitcoin by the end of 2025, backed by factors such as spot Bitcoin ETFs and BTC treasury companies. However, crypto analyst Rekt Capital warned of a potential end to the current price expansion cycle in the coming months.

Read more at cointelegraph.com: Bitcoin Unlikely To Reach $200K In 2025, Says Crypto Analyst