YoungHoon Kim, the person with the highest IQ in the world, predicts Bitcoin (BTC) will climb to a new all-time high of $220,000 in the next 45 days. Hitting $220,000 from current price levels will entail a rally of about 130%. According to Kim, he “will use 100% of my Bitcoin profits to build churches for Jesus Christ in every nation.“

Can Bitcoin Realistically Hit a New All-Time High of $220,000 in 45 days?

Bitcoin (BTC) has faced a substantial price correction in the last month and a half. According to CoinGecko data, BTC’s price has fallen 0.8% in the last 24 hours, 9.8% in the last week, 11.1% in the 14-day charts, and 10.5% over the previous month. The original crypto has also fallen by about 24% from its all-time high of $126,080, which it hit in early October.

The cryptocurrency market is still quite weak. Macroeconomic factors also present substantial challenges. Federal Reserve Chair Jerome Powell warned about slow economic growth and rising inflation during his October speech. Bitcoin’s (BTC) current slump is likely due to diminishing chances of another interest rate cut in December. Given the bearish market environment, it is unclear if BTC can realistically hit a new peak of $220,000.

CoinCodex analysts also paint a bullish picture for Bitcoin (BTC) over the coming month. The platform anticipates BTC to hit a new all-time high of $142,263 on Dec. 25. Hitting $142,263 from current price levels will entail a rally of about 48.7%.

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While the predictions are quite bullish for Bitcoin (BTC), there is still a possibility that the asset will not rally as expected. The market is still far from recovered, and volatility is still rampant. BTC’s price seems to be consolidating around current levels and may remain here for a prolonged period.