Bitcoin prices are below $105,000, but the popular model has shown a surge of between $275,000 and $300,000 by October this year.
Bitcoin (BTC) was trading at $103,400 at the time of press. This month’s highest price was $105,900.
The Bitcoin Spiral Clock is a popular model that examines the price cycle of Bitcoin regarding harving events. Half is the process in which Bitcoin’s rewards are reduced in half to control the supply of new coins that enter the circulation. It happens every time 210,000 blocks are mined and occurs four years later.
The spiral clock shows historic price peaks and crashes. Bitcoin stands at block 896,988, as shown below. In other words, the clock is about 3:15. The watch predicts that Bitcoin will peak between $270,000 and $300,000 by October this year. The higher side of forecast means a 191% spike from current levels.
Have you studied this chart vigorously?
Do you understand that? pic.twitter.com/mkrygtjbdi
-May 16, 2025
Bitcoin has some bullish catalysts in the coming months. First, Moody’s has become the third major rating agency to cut our credit ratings, citing its rising debt and fiscal misconduct.
Credit ratings are considered bullish for Bitcoin as they emerge as a safe asset. For example, after Donald Trump launched tariffs in April, Bitcoin surpassed stocks and other assets. Also, unlike the US dollar, Bitcoin has a fixed supply, reducing inflation.
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Second, demand for Bitcoin continues to increase, with Spot BTC ETF approaching a $42 billion inflow milestone. The iShares Bitcoin ETF has accumulated over $65 billion in assets and is approaching the SPDR Gold Trust, which is over $90 billion.
Demand for Bitcoin is also coming from institutions, with Michael Saylor’s strategy having 568,840 coins on the balance sheet. Other companies like Next Technology, BitFarms and Semler Scientific are also boosting their holdings.
Conversely, Bitcoin supply in exchange and commercial markets continues to decline. Therefore, the confluence of a decline in supply and an increase in demand means that Bitcoin is likely to continue to rise.
Top analysts are also very bullish on Bitcoin, with BlackRock aiming for $700,000, and standard Chartered forecasting to reach $200,000 by the end of the year.
Bitcoin price technology analysis
BTC Price Chart | Source: crypto.news
The weekly chart shows Bitcoin prices have been a strong uptrend over the past few months, and is now approaching a significant level of resistance at a record high of $109,230.
Since October 2023, the 50-week index moving average has supported Bitcoin, which also forms an upward channel.
So, if you go above $109,230, you’ll see more profits. This is because it invalidates the double-top pattern with a neckline of $81,210 on a 50-week moving average. Such a move shows potential benefits at the top of the channel at $134,556.
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