Glassnode Analyst: Low Trading Volume Hinders Bitcoins Path to $200,000

The first cryptocurrency is unlikely to hit the $200,000 mark this year, according to James Check, the chief analyst at Glassnode.

He pointed out that there is insufficient buying activity to support such a price surge. Check emphasized that reaching this level in just six months would nearly double the current market capitalization of the asset.

*»How on earth can we grow without any volume?»* he questioned.

He views such a dramatic increase as «highly unlikely» without consistent backing. The analyst mentioned that he won’t be taking on high-risk positions until the market stabilizes.

Check cautioned that rapid price increases without strong support could lead to just as swift a decline.

*»Otherwise, you’re just trading in a vacuum, and you’ll fall back down just as fast,»* he explained.

However, Check acknowledged that no one can predict future price movements. He holds a significant portion of his assets in Bitcoin and believes that in five years, its value will be «substantially higher» than $200,000.

At the time of writing, digital gold is trading at $118,592 (-0.6% over the last day), according to [CoinGecko](https://www.coingecko.com/en/coins/bitcoin).

It’s important to note that TD Cowen analysts have projected that Bitcoin could reach $155,000 by December 2025.

Later, experts from Fairlead Strategies predicted a rise in the first cryptocurrency to $135,000, followed by a market correction.