Bitcoin price has stalled slightly below $105,000, but its strong technicals and fundamentals point to an eventual surge to its all-time high of $109,300 and above as soon as next week. BTC was trading at $103,630 on Saturday, meaning that it has jumped by almost 40% from its lowest point this year. 

There are a few reasons why Bitcoin price is about to go parabolic and cross its all-time high as many analysts expect.

The most notable one is which was noted by Robert Kiwasaki, the popular author of Rich Dad, Poor Dad. In an X post, he argued that Bitcoin was a way superior asset than gold and silver because of its 21 million supply cap. 

He pointed out that this supply will always remain like that, even when the price keeps surging. In contrast, if gold and silver prices surge, he expects that mining companies will intensify their mining operations to find more of that.

Bitcoin has a supply cap of 21 million, and it is estimated that over 4 million coins have been lost forever. 19.8 million have been mined, leaving about 1.2 million coins left to be mined. 

At the same time, mining difficulty continues to rise, meaning that the number of new coins brought online continues to drop. The amount of Bitcoins in exchanges has continued falling and now stands at the lowest level in over five years.

Read more: XRP price prediction: how high can Ripple get by 2030?

Bitcoin demand continues rising as evidenced by the strong ETF inflows this year. All Bitcoin ETFs have attracted over $40 billion in inflows since their approval in 2024. Indeed, the iShares Bitcoin Trust (IBIT) has over $64.45 billion in assets, $34 billion lower than the blue-chip SPDR Gold Trust (GLD).

Therefore, the falling Bitcoin supply has coincided with the rising demand. Most notably, whereas the first Bitcoin price bull run was driven by retail investors, the reality is that institutions are leading the current one. 

Data shows that some of the biggest hedge funds like Citadel, Millennium, and Susquehanna have all invested in Bitcoin. Companies like Tesla, Coinbase, Strategy, Block, and MetaPlanet have all added Bitcoin into their treasuries. All these entities see Bitcoin as a more liquid asset than real estate and private equity.

The next phase of Bitcoin accumulation will likely come from governments as they seek to diversify from the US dollar. Some countries, like the United States and the Czech Republic, have expressed a desire to have Bitcoin in their treasuries. 

All these factors explain why analysts are highly bullish on Bitcoin. Blackrock analysts see Bitcoin surging to over $700,000 in the long term, while Cathie Wood’s Ark Invest expects it to jump to $2.4 million in the long term. Other analysts from companies like Standard Chartered, Bitwise, and Fundstrat see the momentum continuing. 

The weekly chart shows that Bitcoin price has formed what looks like a perfect chart. It formed a cup and handle pattern whose upper side was at $68,835, its highest level in November 2021 and March 11 last year. 

The handle section was completed in November, when the coin broke out and surged to a record high of $108,520.

Bitcoin remains above all moving averages, a sign that bulls remain in control. Therefore, there is a likelihood that the coin will keep rising, with the initial target being the all-time high of $109,300. A move above that level will point to more gains, possibly to $150,000 by the end of the year. Such a move would push its market cap to over $2.97 trillion. 

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