Renowned cryptocurrency analyst Willy Woo expressed skepticism on Monday over optimistic Bitcoin (CRYPTO: BTC) price predictions made by various institutions and individuals.
Woo Not Convinced
In an X post, Woo labeled the predictions as “all too bullish,” suggesting that they lack a basis in reality.
It’s worth noting that several of these targets have been lowered lately. For example, CitiGroup downgraded its 12-month Bitcoin price target to $112,000, while Standard Chartered cut its year-end forecast from $150,000 to $100,000.
Prominent voices, including venture capitalist Tim Draper, projected that Bitcoin would reach $250,000 in 18 months, targeting the end of 2027.
Anthony Scaramucci, founder of asset management firm SkyBridge Capital, set a $1 million price target for Bitcoin by 2032, but refused to provide a near-term target.
What Do Prediction Markets Think?
Polymarket traders currently assign a 38% probability to Bitcoin rebounding to $100,000 by the end of 2026, with a 23% chance of reaching $120,000. Meanwhile, there's a 46% likelihood of a correction to $55,000 before year-end.
Bitcoin Moves On Geopolitical Developments
Woo’s pessimism comes amid a noticeable uptick in Bitcoin and other tokens on Monday, driven by geopolitical shifts in the Middle East.
Prominent analyst DonAlt identified $76,000 as the early warning level that determines whether the cryptocurrency rallies to $95,000 or crashes back to $70,000.
Price Action: At the time of writing, BTC was exchanging hands at $76,480, up 2.21% in the last 24 hours, according to data from Benzinga Pro.
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