Bitcoin could be on track to hit a new record high of $150,000 before the end of 2025, as more investors move into safe-haven assets alongside gold, according to Charles Edwards, founder of Capriole Investments.
Speaking at Token2049 in Singapore, Edwards explained that Bitcoin’s recent rebound above the critical $120,000 level may pave the way for a sharp rally. “Once we clear this $120K zone, I think the move to $150K could come very quickly — possibly within days,” he said.
Over the past week, Bitcoin has gained more than 6%, reclaiming $118,500 for the first time since mid-August and holding steady above $120,000, market data shows.
More cautious than $200K forecasts
While Edwards is optimistic, his projection is more restrained than some other analysts. For example, André Dragosch, head of European research at Bitwise Asset Management, believes the current cycle could carry Bitcoin above $200,000. He noted that the introduction of crypto allocations into U.S. 401(k) retirement plans could inject as much as $122 billion into the market. Even a modest 1% allocation from retirement fund managers, Dragosch argued, could be enough to push Bitcoin past $200K before year-end.
The role of the four-year cycle
Edwards also sees about a 50% chance that Bitcoin and the broader crypto market will close the year with three consecutive positive months. He pointed out that the well-known four-year cycle pattern continues to shape investor sentiment, calling it “almost self-fulfilling” as traders anticipate cyclical upswings.
However, he cautioned that institutional activity remains the real driver. “If institutional flows slow down, then my outlook changes significantly,” Edwards added.
History supports bullish Q4
Bitcoin’s seasonal strength in the final quarter of the year also supports Edwards’ view. Data from CoinGlass shows that historically, Bitcoin has delivered average returns of around 20% in October, a massive 46% in November, and about 4% in December.
Technical analysts are also highlighting bullish signals on the charts, including the formation of a “golden cross,” which could set the stage for a move toward $150,000 by the end of the fourth quarter.
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