Bitcoin to $150K?! 😲

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Right ho! It appears our chaps in the crypto world are in a bit of a flutter over Bitcoin. Seems the beastly thing has nudged its way to a new record high – a positively dizzying $125,700, if you please – and a gaggle of analysts are predicting even more breathtaking heights. Honestly, one does wish they’d find something more substantial to occupy their time.

“Now that we’ve made new ATHs in an impulsive manner,” bleated one ‘CrediBULL Crypto’ (a name that rather begs the question, doesn’t it?), “the next leg to $150k+ has begun!” Blast through, he said. Honestly, the theatricality of it all! Though, rather conveniently, he did allow for the possibility of a little wobble downwards, somewhere between $108,000 and $118,000. A blessing in disguise, naturally, should it occur. Unless, of course, one is simply meant to ‘enjoy the ride’ to the aforementioned stratospheric figures. Rather a lot of pressure, what?

“Dips into that zone of $108 to $118k are a blessing if we get them – and if not, well then enjoy the ride to $150k+”

‘Crypto Chase,’ a long-term trader of some description, chimed in with the predictably cheerful pronouncement that “a new leg up seems likely.” One shudders to think what a truly unlikely leg up might entail. Apparently, if Bitcoin’s feeling particularly robust, any pullbacks will be ‘minor at best.’ One suspects a large glass of something fortifying is required to follow this sort of thing.

Young Wynn – James Wynn, a whale trader with Hyperliquid, no less! – declared he felt a new high was imminent “within hours.” A touch dramatic, perhaps? He suggests ‘price discovery’ has commenced, but has been rather sluggish due to “price suppression” (sounds frightfully nefarious) and the distracting allure of gold and, of all things, stocks. 🙄

Meanwhile, according to TradingView, Bitcoin had achieved the impressive feat of having the highest weekly close in history – $123,543. One hopes someone’s keeping a tidy ledger.

The American Governmental Kerfuffle

It appears the recent fuss in Washington – a bit of a governmental shutdown, you understand – is also playing its part. One Mr. Jeff Mei, a chap at the BTSE exchange, postulates that investors are treating Bitcoin as a ‘safe haven,’ largely because the American dollar is looking a bit peaky. Quite sensible, really. Best to diversify into something even more… ethereal.

He further explains that the dollar’s decline – and it’s rather feeling under the weather, apparently – only encourages further investment in Bitcoin. Perfectly logical, in a spectacularly illogical sort of way.

Indeed, the US dollar is experiencing its worst performance in decades. The US Dollar Index has plummeted by over 12% this year. Good heavens!

ETFs and Such

Venture capitalist Will Clemente assures us this isn’t down to digital asset hoarding or rogue derivatives trading, but rather the popularity of spot exchange-traded funds. They’re “viewing BTC as a rotation from commodities and small caps.” Apparently. One must confess, it sounds rather like gobbledygook to these old ears. A whopping $3.2 billion flowed into these ETFs last week, according to Mr. Nate Geraci of Nova Dius. “Ridiculous numbers,” he calls them. Quite!

Seasonal Opportunities

Apparently, Bitcoin has a rather seasonal penchant for rallies – gaining in 8 out of 12 past fourth quarters, and 10 of the last 12 Octobers. Goodness me, the statistical significance of it all! A YouTuber named Michaël van de Poppe notes that the jump from $110,000 to $125,000 in a single week is “incredibly strong.”

And Charles Edwards of Capriole Investments boldly predicts that breaching $120,000 will lead to a “very quick move” to $150,000. One suspects he’s rather keen on being right. One hopes he has a good tailor, because he’s likely to need a new suit if all this comes to pass. 🧐

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2025-10-06 07:24