A crypto analyst believes it is very unlikely that Bitcoin will reach $200,000 this year due to insufficient buying volume. Glassnode's lead analyst James Check stated that while Bitcoin's price recently surpassed $120,000, a price of $200,000 by year-end represents a substantial increase and would nearly double its current market capitalization of $2.38 trillion. He emphasized that without increased trading volume, he is hesitant to adopt any leveraged positions and would prefer to wait for market stabilization. Check noted the progression necessary for Bitcoin's growth, indicating further price targets of $130,000, $140,000, and $150,000 before reaching $200,000. Other analysts also express optimism about Bitcoin hitting $200,000 in the future, citing potential supply shocks from institutional demand, with some expecting this milestone by Q4 2025. Yet, there are suggestions that the rising Bitcoin market cycle may face limited time left for price increases if historical patterns continue.

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