Bitcoin Rockets Toward $175K—Analyst Calls Moon Shot ’Geologically Stable’
Another day, another hyperbolic crypto price prediction—but this one’s wrapped in titanium-clad confidence. A prominent analyst insists Bitcoin’s trajectory to $175,000 isn’t just possible, it’s ’solid as a rock.’ Cue eye rolls from traditional finance dinosaurs still waiting for their ’tulip bubble’ narrative to pay off.
The Bull Case, Unshaken
Institutional adoption, supply shocks, and that halving magic have apparently forged an unstoppable launchpad. Never mind that 99% of previous ’to-the-moon’ calls cratered faster than a meme coin.
The Fine Print
Of course, the analyst’s track record isn’t disclosed—because in crypto, past performance is just inconvenient data cluttering the hopium spreadsheet. Meanwhile, Wall Street quietly increases its BTC ETF holdings while publicly scoffing at the ’unbacked casino chips.’
Place your bets: This either ages like 2021’s ’supercycle’ prophecies or finally makes Bitcoin maximalists slightly less insufferable at dinner parties.
The Bull Case: $175K or Bust?
Egrag Crypto isn’t mincing words. In a recent X post, the analyst, more well-known for his takes on XRP, proclaimed that Bitcoin going to $175,000 was “Solid as a Rock!” According to him, that price region is BTC’s “cycle top,” referencing historical EMA breakouts and a 10X extension from 2017’s $20,000 peak.
The crypto trader pointed out that, in the past, bitcoin pumped hard whenever it closed above the 21-week EMA. His breakdown: Pump 1, 60%; pump 2, 170%; pump 3, 75%. That’s an average jump of 101%, which Egrag applied directly to the market’s post-April 21 momentum to reach the $175,000 price level. “Men lie, women lie, numbers don’t,” he quipped.
However, not everyone is dancing. Investor Daan Crypto Trades is painting a sobering picture of weekend stagnation and low volatility, with BTC locked in a tight $101,000 to $105,000 range. “We won’t see that much action from Bitcoin for now,” he shrugged, citing low liquidity over the weekend and a possible breakout looming.
The Bearish Wrinkles
Still, an unfilled CME gap between $91,970 and $92,520 feels like the real twist. Some traders believe BTC must revisit this zone before any meaningful climb can happen.
“From the current price, BTC WOULD need to drop around 12% to close this gap,” Egrag Crypto wrote. However, he predicted there was more likelihood of a rally through the $130,000 to $140,000 Fibonacci levels before a 33% correction, followed by a final push to his fabled $175,000.
At the time of this writing, BTC was still 4.9% below its all-time high set in January. Its latest price represents a slight 0.4% dip in the last seven days, but it has still outperformed the broader crypto market’s 1.6% drop in the same period.
The next MOVE is critical: will the flagship crypto blast off to $175,000 as the permabulls promise, or will the CME gap drag it down first?
