Trader claims Bitcoin target of $150K is too low for this cycle

Bitcoin (CRYPTO:BTC) price target of $150,000 is considered insufficient by crypto trader Alex Becker, who argues that widespread adoption by countries and corporations will drive the price higher.

“There is absolutely no reason for us to stop or cap at $150k. If we reach that, there’s only more of a reason for us to go to 250k-400k,” stated Becker in a post on January 16.

If Bitcoin were to reach the $150,000 mark, it would represent a 48% increase from its current price and a 38% rise from its all-time high of $108,249.

Becker noted that a $150,000 valuation would place Bitcoin's market capitalization at roughly one-sixth of gold’s total market cap of $18.44 trillion.

Echoing Becker's sentiments, crypto analyst Will Clemente suggested that as more nations adopt Bitcoin as a strategic reserve asset, the price could eventually reach $1 million.

“Once a nation adopts BTC as a strategic reserve asset, it becomes inherently nationalist to DCA into said asset,” explained Clemente.

In contrast, Blockware Solutions has indicated that if Donald Trump does not implement his Bitcoin Strategic Reserve plan, the bear case target could remain at $150,000.

However, they predict a base case target of $225,000 and a potential peak of $400,000.

As Trump’s inauguration approaches on January 20, expectations are rising regarding his potential impact on crypto policies.

Market participants anticipate that he will address issues related to crypto regulations early in his presidency.

At the time of reporting, the Bitcoin price was $101,420.