A social media personality, who claims to hold the record for the world’s highest IQ, has made a bold prediction that Bitcoin’s price will surge to $220,000 within the next 45 days. The forecast has been met with widespread skepticism from the crypto community, particularly as market analysts point to technical indicators suggesting a potential downturn.

In a post on the social media platform X, YoungHoon Kim, who states he has an IQ of 276, announced his ambitious price target. The post drew a wave of critical responses, with some users calling the claim a “fraud” and others joking that a failed prediction would require him to “join us <80 IQ bitcoiners group.”

Analysts Signal Caution as Indicators Turn Negative

The optimistic prediction stands in stark contrast to the more cautious tone from market experts. According to one analyst, Bitcoin recently displayed a rare combination of three bearish technical signals. These include a weekly price close below the 50-week moving average, a drop in the Relative Strength Index (RSI) below 50, and a negative crossover on the MACD indicator.

This trio of signals is significant because the last time all three occurred was in December 2021, which marked the beginning of the previous bear market. Based on this historical precedent, some analysts believe Bitcoin may have already entered a new bearish phase that could continue for the remainder of the year, with one forecast placing the cryptocurrency between $71,000 and $95,000 by year-end.

JPMorgan Maintains Long-Term Positive Outlook

Despite the recent price slump and worrying short-term signals, analysts at JPMorgan have reiterated a more positive long-term outlook. The investment bank suggested that Bitcoin could reach $170,000 within the next six to twelve months. Their analysis is based on two key factors: Bitcoin’s global production cost of approximately $94,000 acting as a strong price floor, and a valuation model that compares its market to gold’s $28.3 trillion private investment market.

Assessing the $220,000 Target

For Bitcoin to reach $220,000 in just 45 days, it would need to more than double from its current levels and shatter its previous all-time high in one of the fastest rallies in its history. Most critics and market analysts agree that such a rapid and massive surge is highly unlikely.

While short-term charts suggest a potential for a notable price bounce, the broader trend appears to be leaning bearish. Unless buyers can reclaim key resistance levels, the prevailing sentiment suggests the market may be transitioning into its next prolonged bear market rather than preparing for an unprecedented bull run.

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