How High Can Bitcoin Rise or How Low Can It Fall?

Bitcoin reached its all-time high on August 14, 2025, when the price rose to $124,198.52 per token. After correcting from the previous $123,055.43 mid-July high to the $112,000 level on August 4, the price rallied to a higher high. There are bullish and bearish factors pulling the leading cryptocurrency in opposite directions as it sits near the all-time peak. I concluded a mid-June Barchart article on Bitcoin [https://www.barchart.com/story/news/32869296/are-higher-highs-on-the-horizon-for-bitcoin] with the following:

_The trend in Bitcoin remains bullish in June 2025, but as market participants have learned, the market is highly volatile, experiencing boom-and-bust price action over the past few years. Buying Bitcoin on dips has been optimal, and I expect that trend to continue. _

Although the explosive price action has stalled, Bitcoin remains in a clear bullish trend as of August 2025.

CONSOLIDATION WITH A BULLISH BIAS AS BITCOIN SEARCHES FOR ITS NEXT SUBSTANTIAL MOVE

Bitcoin has been in a bullish trend since the April 7, 2025, tariff-inspired low of $74,496.62 per token. 

The daily year-to-date chart [https://www.barchart.com/crypto/quotes/%5EBTCUSD/interactive-chart] illustrates the ongoing bullish trend leading to the new August 14, 2025, high. Meanwhile, Bitcoin has been consolidating between just over $112,000 and under $125,000 since mid-July as the leading cryptocurrency decides whether the next substantial move will be another price explosion or implosion. Bitcoin could form a bullish key reversal pattern on the daily chart on August 22, as the leading crypto rallied after Fed Chairman’s dovish comments at Jackson Hole, Wyoming. 

The monthly chart [https://www.barchart.com/crypto/quotes/%5EBTCUSD/interactive-chart] highlights the history of parabolic rallies and price plunges over the past years. 

THE CASE FOR HIGHER PRICES

The following factors support higher highs in Bitcoin and the cryptocurrency asset class:

* The Trump administration has embraced cryptocurrencies, validating their role in the U.S. economy.
* Legislation has increased regulatory oversight of the cryptocurrency asset class, providing comfort and instilling confidence.
* Leading financial institutions are increasingly incorporating cryptocurrencies into their services, thereby expanding the asset class’s addressable market.
* JPMorgan Chase (JPM [https://www.barchart.com/stocks/quotes/JPM/overview]) has joined forces with Coinbase (COIN [https://www.barchart.com/stocks/quotes/COIN/overview]), a leading cryptocurrency platform, enabling their over 80 million customers to access the cryptocurrency asset class.
* The price action in Bitcoin and other cryptocurrencies has driven the asset class’s market capitalization to around the $4 trillion level.
* The entire cryptocurrency asset class’s market capitalization remains small, as it is lower than that of NVDA, with a value of over $4.30 trillion.

THE FACTORS THAT COULD CAUSE ANOTHER PRICE IMPLOSION

The issues facing Bitcoin and other cryptocurrencies include:

* The volatile price history may deter many market participants from investing in this asset class.
* Any legislative roadblocks in the U.S. or other countries that ban or slow the acceptance progress could cause a sudden selloff in Bitcoin and other cryptocurrencies.
* While acceptance is growing, many iconic market leaders, including Warren Buffett and others, continue to doubt or negate cryptocurrencies’ intrinsic value.
* Sudden price corrections causing losses will slow acceptance in the asset class.
* Bitcoin formed a bearish key reversal pattern on the daily chart on August 14 as it rose to a new record high and closed below the August 13 low. 

THE ODDS FAVOR HIGHER HIGHS

In the current environment, the odds favor a continuation of Bitcoin’s bullish price action. While the trend is any trader or investor’s best friend, the increasing validation from financial institutions, the U.S. government, regulatory bodies, and the price action favors a continuation of new highs. However, the price history suggests that Bitcoin will eventually reach an unsustainable short-term level where the odds of a correction or price plunge occur. 

TECHNICAL LEVELS TO WATCH OVER THE COMING DAYS AND WEEKS

Bitcoin’s bullish trend has reached a new high on August 14 and remains near that peak. Therefore, there are no technical resistance targets except for price levels, which are likely at $130,000, and every $10,000 above that level. 

The daily chart [https://www.barchart.com/crypto/quotes/%5EBTCUSD/interactive-chart] highlights Bitcoin’s August 14 bearish key reversal pattern. Technical support is at the August 4 low of $112,021.52 and the June 23 low of $98,309.41. However, a close above $114,757.96 on August 22 would form a bullish reversal pattern on the daily chart. 

If a substantial correction is on the horizon, the first critical support level [https://www.barchart.com/crypto/quotes/%5EBTCUSD/interactive-chart] is at the April 2025 low of $74,496.62 per token. 

Bitcoin and cryptocurrencies are highly volatile assets. While the bullish trend remains firmly intact, the price history suggests that another price plunge is not out of the question. 

_ On the date of publication, Andrew Hecht [https://www.barchart.com/news/authors/91/andrew-hecht] did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here [https://www.barchart.com/terms#disclosure]. _