James Wynn Eyes $122K Bitcoin Target
Posted: Fri May 23, 2025 8:21 am
Renowned crypto trader James Wynn has set a new short-term price target for Bitcoin, aiming for a range between $118,000 and $122,000. This projection comes as Bitcoin recently reached an all-time high of nearly $112,000.
Wynn's confidence is backed by his significant 40x leveraged long position on Bitcoin, initially valued at approximately $808 million. After Bitcoin touched the $110K–$111K range, he partially reduced his position to secure profits but remains optimistic about further price increases.
He anticipates that once Bitcoin reaches the $118K–$122K range, the market may experience a cooling-off period with sideways movement. Wynn suggests that this phase could usher in an "altcoin season," where alternative cryptocurrencies might see substantial growth.
Question for Discussion:
Do you believe Bitcoin will achieve the $122K mark in the near term, and what implications might this have for the broader cryptocurrency market?
Wynn's confidence is backed by his significant 40x leveraged long position on Bitcoin, initially valued at approximately $808 million. After Bitcoin touched the $110K–$111K range, he partially reduced his position to secure profits but remains optimistic about further price increases.
He anticipates that once Bitcoin reaches the $118K–$122K range, the market may experience a cooling-off period with sideways movement. Wynn suggests that this phase could usher in an "altcoin season," where alternative cryptocurrencies might see substantial growth.
Question for Discussion:
Do you believe Bitcoin will achieve the $122K mark in the near term, and what implications might this have for the broader cryptocurrency market?