A rapid ascent of Bitcoin to $250,000 this year might present more challenges than benefits, according to macro analyst and investor Mel Mattison.
"One of the worst things that could happen is Bitcoin shoots up to $250,000, and the S&P to 8,000 in like a 3-month period," Mattison stated during an interview with crypto entrepreneur Anthony Pompliano, which was published on YouTube on Friday.
He elaborated, "And you get this blow-off top, and everybody rushes to the exits to take profits, and it starts going down."
If Bitcoin (BTC) were to reach $250,000, it would signify an approximate 142% increase from its current price of $102,870.
Bitcoin Experiencing "Healthy Rotations," According to Mattison
This discussion follows a period where Bitcoin dropped below $100,000 for the first time in four months on November 4. Mattison observed, "We’re having healthy rotations, healthy movement, and we are getting at some very interesting points at some of the channels that I look at."
Just a month prior, Arthur Hayes, co-founder of BitMEX, and Tom Lee, chairman of BitMine, had reiterated their optimistic forecasts for Bitcoin, suggesting that a $250,000 price target by year-end remained achievable, despite the shrinking timeframe.
Historically, November has been Bitcoin's strongest performing month on average, yielding a return of 42%. Based on Bitcoin's current price of $103,000, this average performance would project the asset to reach $145,000 by the end of November.
Debate Surrounds Potential Bitcoin Bear Market in 2026
This projection aligns with the forecast from Steven McClurg, CEO of Canary Capital, who anticipates Bitcoin will rise to between $140,000 and $150,000 by the close of this year, preceding a bear market in 2026.
However, this bearish outlook for 2026 is not universally shared within the industry.
Mattison suggested that Bitcoin might reach $150,000 for the first time in February 2026.
Conversely, Bitwise CIO Matt Hougan recently predicted that 2026 would be another "up year" for Bitcoin, challenging the traditional four-year cycle narrative.
In late October, Galaxy Digital CEO Mike Novogratz commented that the stars would need to align for Bitcoin to reach $250,000 by the end of the current year.