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Popular market analyst Gert Van Lagen has audaciously backed Bitcoin (BTC) to hit the $300,000 price mark amid the current bull run. Van Lagen’s prediction comes a few days after establishing a new all-time high at $111,970, signaling a strong bullish intent to maintain the current price uptrend
Over the past week, the premier cryptocurrency registered a modest price gain of 5.35% as news of US President Donald Trump recommending a 50% tariff on imports from the European Union (EU) forced a slight price retracement.
Bitcoin Possible Exponential Growth Projects Rally To $300K
In an X post on May 24, Gert Van Lagen shares that BTC price action since the last cycle in 2021 has resulted in a cup-and-handle formation, suggesting the digital asset is on the edge of a major price breakout.
For context, the cup-and-handle represents a major bullish continuation pattern that indicates a potential upward breakout. In Bitcoin’s case, the cup forms between late 2021 and early 2024, as price action created a rounded bottom, reflecting a decline from a former all-time high around $69,000, followed by a period of stabilization and recovery, culminating in a return to that key level.
After attaining this prior high, price movement pulled back, forming a downward or sideways channel known as the handle, setting the stage for a price breakout. This is well reflected in Bitcoin’s price action from early 2024 to Q3 2024.
Source: @GertvanLagen on X
Notably, Bitcoin has since achieved this breakout from the cup-and-handle formation by crossing the critical market resistance at $69,000. Based on linear calculations, Gert Van Lagen explains the flagship cryptocurrency is expected to hit a price target of $120,000-$130,000 — a projection now within Bitcoin’s reach, considering the current market momentum.
However, Van Lagen also notes that the cup-and-handle pattern also points to an exponential price target of $300,000. Historically, BTC has previously achieved such logarithmic targets with gains of 100x from 2013-2017, and 21x from 2018-2021.
Furthermore, the new weight of institutional capital, especially following the approval of spot Bitcoin ETFs in 2024 supports this bullish outlook. However, while this institutional participation signals long-term confidence, it also reflects BTC’s maturation. Now a $2 trillion asset, Bitcoin’s sheer size may make parabolic moves less frequent, even though crypto market volatility still leaves the potential for significant upside.
BTC Price Overview
At the time of writing, Bitcoin trades at $107,794 following a minor 0.64% gain in the past day. On the monthly chart, the premier cryptocurrency reports gains of 16.25% as the bull market persists.
BTC trading at $107,741 on the daily chart | Source: BTCUSDT chart on Tradingview.com
Featured image from iStock, chart from Tradingview
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