Bitcoin Price Prediction by Former Goldman Sachs Analyst

Former Goldman Sachs analyst Murad Mahmudov has predicted that the price of Bitcoin will surpass the $200,000 level.

This prediction comes amid a ruthless cryptocurrency market correction. Earlier this Thursday, Bitcoin plunged to $82,726, leading to a loss of more than 16% in just a week.

Meanwhile, Bitcoin ETFs are experiencing significant outflows, with BlackRock’s IBIT suffering a loss of $418 million in just one day.

However, some analysts believe this is merely a short-term correction that does not necessarily indicate trouble for the leading cryptocurrency.

In fact, Standard Chartered, whose analysts accurately predicted the recent price correction, believes that Bitcoin is still on track to reach $200,000 this year despite the short-term bearishness.

The banking giant attributes the recent sell-off to economic uncertainty from tariffs and the devastating Bybit hack that occurred last week. They also noted that tech stocks have faced a correction as well.

Moreover, Bitcoin options data shows that traders anticipate another correction that could push the cryptocurrency down to the $70,000 level.