A widely followed crypto strategist believes that Bitcoin (BTC) can take the path of higher for longer this market cycle.
Pseudonymous analyst Jack tells his 268,200 followers on the social media platform X that he thinks Bitcoin will not print a new all-time high this year after US President Donald Trump instigated a global trade war and created uncertain market conditions.
The trader shares a chart suggesting that Bitcoin will create a durable bottom between $66,000 and $80,000 for the rest of the year before launching a new bull run in 2026.
“Trump path clearly is contraction for now.
But in that world of less globalization and trust, Bitcoin is a good asset to have, becoming a ball held under water.
Similar to how 2013 saw a short bear [market].”
Looking at the trader’s chart, he appears to suggest that Bitcoin will rally to as high as $297,000 by November of 2026.
Jack says that one catalyst that could send Bitcoin flying is the potential capital rotation from gold to BTC. According to the trader, gold investors will eventually come to know that Bitcoin is far better than the precious metal as a safe-haven asset.
“What if Gold is trading like it is because everyone is scrambling to redeem paper for physical, of which there is a scarcity, vs. all the paper that has been issued, essentially catching up to its true value that has been diluted with paper
Bitcoin doesn’t have this issue and will rally once people realize it is the better alternative for trade due to this very specific property.”
“Paper” gold refers to financial instruments that allow investors to gain exposure to the precious metal without having to deal with the expenses or logistics of physically possessing the commodity. Jack appears to be highlighting Bitcoin’s portability as BTC holders can easily store, access and transfer their coins as long as they have the keys to their wallet.
At time of writing, Bitcoin is trading for $84,244.
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Generated Image: Midjourney
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