Analyst predicts Bitcoin price could easily hit $250k by January 2022

Bitcoin price recently recorded a new all-time high at near $69,000 on November 10 fueled by sustained inflation. The argument that the leading cryptocurrency is a hedge against rising cost pressures has been fueled by inflationary fears. While BTC skyrocketed to a new record high, a prominent analyst believes that the flagship digital asset could reach $250,000 by January 2022.

Bitcoin price awaits major explosive rally

While $1 million has become a focus for 2025, according to the stock-to-flow model for Bitcoin price, the leading cryptocurrency could easily hit $250,000 by early 2022, according to analyst Matthew Hyland.

The analyst further pointed out that only one of the Bitcoin stock-to-flow models could survive after 2022, being the (S2F) model rather than the stock-to-flow-asset (S2FX) model.

Hyland highlighted that the BTC market has not experienced euphoria yet, but this stage could come when Bitcoin price breaks above $100,000. According to PlanB’s S2F model, the bellwether cryptocurrency will have already reached $100,000 by December this year. 

Once the S2F model gets validated with Bitcoin price reaching $100,000 in December, Hyland stated that “all eyes will be on the S2X model,” which predicts that the flagship cryptocurrency would reach $288,000 for this bull run. 

He added that the S2X model could be a catalyst for the late stages of the euphoric run since PlanB has predicted correctly on the S2F model on the price of BTC. Out of fear of missing out, investors would then be likely to believe that the $288,000 target is on the radar.

However, Bitcoin price could be confronted with a setback, as Hyland believes it could be a “sell the news” event, as larger players could provide liquidity for other big investors to sell at higher prices. The analyst said that while $288,000 is the target price, BTC will fall short at $250,000.

While the S2X model will be invalidated, the S2F will continue to be intact. It predicts Bitcoin price to reach $1 million by 2025. Hyland further pointed out that venture capitalist Tim Draper also predicted BTC would reach $250,000 by 2022 back in 2018. 

In the years to come, Bitcoin will continue to go through block reward halvings, which could see the cryptocurrency’s supply become scarce, prompting the leading digital asset’s price to surge higher.

Bitcoin price prints massively bullish pattern as BTC eyes $88,000 next

Bitcoin price has presented a bull pennant pattern on the daily chart, signaling that BTC could continue to climb higher after it finishes retracing. 

The first target for Bitcoin price on the upside is at $71,658, measured by the symmetrical triangle that forms the pennant of the prevailing chart pattern. If BTC is able to reach above this level, the following aim for the bellwether cryptocurrency is at $88,117, marking a 39% climb from the upper boundary of the governing technical pattern.

While Bitcoin is retracing, it appears that investors are taking the opportunity to buy the dip, as the Arms Index (TRIN) is suggesting that there are more buyers than sellers in the market. 

BTC/USDT daily chart

However, before Bitcoin price could reach the optimistic targets, the leading cryptocurrency could retest crucial support levels, with its first line of defense at the November 2 high at $64,225, then at the October 22 high at $63,685. 

If selling pressure rises, Bitcoin price could tag the upper boundary of the governing technical pattern at $62,301, coinciding with the 21-day Simple Moving Average (SMA). Falling below this level could spell trouble for the bulls as the bullish outlook may be invalidated.