A prominent Bitcoin (BTC) bull has renewed his bullish forecasts, suggesting its price could surge to $315,000.
Meanwhile, a Bitwise executive said that continued demand from exchange-traded funds (ETFs) could eventually send Bitcoin’s price into a parabolic rise.
The bullish predictions contrast with a rising number of Bitcoin bears who claim its price is heading for a substantial drop.
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Bitcoin Price Surge Prediction
Mike Alfred, a well-known crypto investor and commentator, wrote on X that Bitcoin is “quietly building towards the next major test of the critical $94,000 level,” adding that “if we break $94,000 on volume, $315,000 is coming.”
“I repeat: if we break $94,000 on volume, $315,000 is coming,” he wrote.
The comments came just before Bitcoin’s price rose another 2% on Tuesday, with it currently trading at just over $95,000 at the time of reporting.
Alfred has a history of bold predictions, many of them catching fire from skeptics for being too optimistic.
Last month, Alfred argued that market sentiment has swung too far to the negative, writing previously:
“Everyone seems to think Bitcoin is going to go lower here even though BTC is deeply oversold, AI demand is growing, and liquidity conditions are about to improve... It’s possible the drama queens are getting a bit carried away here.”
Alfred is one of the many industry figureheads who has backed a seven figure valuation for Bitcoin.
ETF Demand Could Drive Parabolic Price Moves
Matt Hougan, chief investment officer at Bitwise, weighed in on Bitcoin’s price trajectory, drawing parallels to gold’s historic 2025 surge.
In a Tuesday post on X, the executive wrote: “Bitcoin’s price will go parabolic if ETF demand persists long-term.”
“The price of both gold and Bitcoin are set by supply-and-demand... Central bank purchases of gold spiked in 2022, but it wasn’t until 2025 that prices went parabolic,” he added.
“That’s because sellers initially met the demand, but eventually, they ran out of ammo. The same thing is happening with Bitcoin and ETFs.”
Since the debut of Bitcoin ETFs in January 2024, Hougan said, funds have been buying more than 100% of new Bitcoin supply, but prices have yet to go parabolic because existing holders have been willing to sell.
“If ETF demand persists — and I think it will — eventually, these sellers will run out of ammo. And when they do...” he added, leaving the implication clear.
Hougan also recently challenged the relevance of Bitcoin’s traditional four-year cycle, which historically dictated bull and bear phases.
Talking on the Investopedia podcast, the executive said: “Historically, Bitcoin has moved in this four-year cycle... the next would be 2026, so according to the four-year cycle, this would be a negative year for Bitcoin,” he said.
“Why do I think that won’t happen? Well... the halving is no longer very important. There’s just not that much more Bitcoin being produced.”
Hougan said he believed it was currently an “attractive market for Bitcoin... one of the few times in its history, I think the fundamentals are ahead of the price.”
Bears Remain Skeptical
Not all analysts share this optimism.
Bloomberg Intelligence’s Mike McGlone recently warned Bitcoin could eventually retreat toward $10,000, citing signs of “bearish exhaustion” and fading catalysts that previously fueled rallies.
“Much of what the market had been looking forward to has occurred — ETFs, U.S. leaders recognizing Bitcoin’s benefits, and broader mainstream adoption,” McGlone said.
McGlone also questioned Bitcoin’s scarcity narrative, pointing to the rapid expansion of the broader crypto market.
“There were zero cryptocurrencies in 2009. Now there are roughly 28 million listed on CoinMarketCap... Own it or wear it — I expect Bitcoin to revert back toward $10,000.”
