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Capriole Investments founder Charles Edwards expects Bitcoin (BTC) to accelerate toward a new all-time high — potentially reaching $150,000 — if the market sustains a breakout above the $120,000 level. Speaking at Token2049 in Singapore, Edwards linked the potential rally to renewed institutional demand as investors rotate into safe-haven assets alongside gold.
Why $120K Matters
Edwards told Cointelegraph that recovering and holding above the psychological $120,000 threshold could spark a "very quick" upward move. Bitcoin has already shown recent strength, climbing more than 6% over the past week and recapturing levels above $118,500 for the first time since mid-August, according to market data.
BTC/USD, one-month chart
Institutional Flows and Safe-Haven Demand
The core of Edwards' thesis is institutional buying. He argues that as macro uncertainty drives capital into gold, some of that safe-haven allocation is also finding its way into Bitcoin. This institutional adoption trend — from hedge funds to asset managers — could be the primary driver pushing BTC to a five-figure milestone beyond current price action.
Different Analyst Targets
Edwards' $150,000 outlook is more conservative than some bullish projections. For example, Bitwise’s head of European research, André Dragosch, highlighted the potential impact of adding crypto to US 401(k) retirement plans, estimating that even a modest allocation could introduce tens of billions in new capital — a move that some analysts say could lift Bitcoin above $200,000 by year-end.
Market Cycles, Technicals and Seasonal Strength
Edwards also referenced the familiar four-year crypto market cycle, suggesting it remains influential and may be partly self-fulfilling as investors de-risk and reposition for cyclicality. He put roughly a "just over 50%" probability on three constructive months to close out the year.
Technical Indicators Supporting the Case
Other market participants are pointing to technical setups — such as an emerging golden cross — that could reinforce bullish momentum and point toward a Q4 price target near $150,000. Historical monthly returns show Bitcoin often posts stronger gains in October and November, which bolsters the seasonal argument for a year-end rally.
Bitcoin NVT-GC
Risks and Caveats
Despite bullish scenarios, Edwards cautions that the macro driver is institutional demand. If large-scale buyers pivot away, the outlook could change quickly. Traders and investors should weigh technical signals alongside macro and institutional flow dynamics when assessing the probability of a rapid advance to $150,000.
Bottom line
The combination of renewed institutional interest, safe-haven flows into gold and Bitcoin, seasonal historical strength, and supportive technical patterns creates a plausible path for BTC to reach $150,000 if it sustains a breakout above $120,000. However, the move remains contingent on continued institutional buying and broader macro sentiment.
Source: cointelegraph
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