Bitcoin Could Hit $200,000 Within 260 Days If This Technical Indicator Is Correct

Bitcoin BTC/USD could more than double its price in the near future, according to a prediction from BCA Research.

What Happened: The firm forecasts that the cryptocurrency may exceed $200,000, supported by its analysis of Bitcoin's 260-day fractal dimension complexity—a metric that evaluates patterns in price changes over a specific time frame, Coindesk reported.

This metric, which evaluates price patterns, suggests a significant upside if it falls below the critical 1.20 threshold.

"Bitcoin's structural uptrend is intact with an ultimate destination of $200,000+," noted Dhaval Joshi, BCA's Chief Strategist, in a Nov. 14 note.

QCP Capital on Monday highlighted the robustness of Bitcoin's rally while acknowledging market dynamics and risks.

"We believe the underlying strength in BTC represents a systematic shift in the market in anticipation of Trump's return to office," the firm stated, referencing potential policies such as a strategic Bitcoin reserve.

However, QCP warned that market players are increasingly selling calls and buying puts to hedge against potential downside, signaling caution amid the optimism.

Also Read: Bitcoin To $100,000 ‘Seems Around The Corner,’ Bulls Are ‘On The Right Side Of History’—Bernstein

Retail activity is surging alongside Bitcoin's institutional appeal.

In a note sent to Benzinga, 10x Research stated that Google searches for "Meme Coins" have reached a record high, surpassing levels from March 2024.

Altcoin search trends are also climbing, with a recent score of 70—the highest since 2021.

“The market’s pace is outstripping the speed of reporting,” 10x noted, emphasizing the rapid shift in retail behavior post-election.

The surge in stablecoin minting, with $9.1 billion entering crypto markets since the U.S. election, further highlights the wave of capital seeking allocation in digital assets.

Altcoins such as Solana SOL/USD and Ripple XRP/USD have also seen significant momentum. Solana recently hit a six-month high, with analysts projecting further gains of up to 85% in the next two months.

Ripple's XRP doubled in value following a breakout from extended consolidation, demonstrating the potential for large-cap cryptocurrencies to deliver rapid returns.

What’s Next: These developments will take center stage at Benzinga's Future of Digital Assets event on Nov. 19.

Read Next:

• Bitcoin To $100,000 ‘Seems Around The Corner,’ Bulls Are ‘On The Right Side Of History’—Bernstein

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