The rally in the crypto markets is gaining momentum. Bitcoin (BTC) has already gained 17% in the last 7 days. A top crypto analyst therefore sees the cryptocurrency rising by more than 1,000% in this cycle. This would bring Bitcoin to new record prices and could attract more buyers. Should you buy Bitcoin now?
Does it make sense to invest in Bitcoin?
After a year-long bear market, the train has now left the station at full steam: the BTC bulls are trampling, continuously ensuring new annual highs for BTC. Bitcoin is currently trading at $52,355 after an increase of +1.98% within the last 24 hours, the highest it was last seen in December 2021. 2021, the year in which the last all-time high was reached. The weekly performance is also impressive at +17%. Investors and analysts feel: Bitcoin is demonstrating enormous strength – new record prices are within reach. The crypto researchers from Glassnode also comment under the Negentropic handle on X (formerly Twitter):
“BTC has left the building, or rather – taken off in a big way! Next we see 58K, then 65K. [All-time highs] here we come! The big BTC bull continues.”
#BTC has left the Building
Or more correctly – has taken off in a big way!
Next we see at 58K before 65K.
ATHs here we come! The big #BTC Bull continues.@HenrikZeberg pic.twitter.com/5dCu4eDGm5
— 𝗡𝗲𝗴𝗲𝗻𝘁𝗿𝗼𝗽𝗶𝗰 (@Negentropic_) February 14, 2024
The optimistic mood on the markets also leads to corresponding forecasts. The tenor is that six-figure prices are guaranteed – it’s all just a matter of time.
Bitcoin could mark a new all-time high as early as 2024, and then move to $100,000 and more in 2025. Top trader Michael van de Poppe goes even further in his BTC forecast, emphasizing: The approval of BTC ETFs marks a new era – namely the beginning of the “institutional cycle”.
What this means is that now it’s not just small investors investing in BTC – now there are financial products for heavyweights like BlackRock and Co., which ensure enormous capital inflows every day. Poppe adds:
“The recently approved Bitcoin ETF is having an impact on markets on a scale that is not priced in. By far not.”
In other words: The popular crypto analyst with almost 1 million followers on X expects BTC prices to continue rising. He also reveals how much BTC could increase according to his forecast:
“It could be that we peak at $250,000 or $600,000.”
#Bitcoin to $200,000 or $500,000 in this bull cycle?
It's the institutional cycle.
This means that an influx of money, which the markets haven't seen before, is coming to the markets. The recent inflow in the ETF has shown interest.
What does that mean? Where's the top? ⬇️… pic.twitter.com/hxTZMQvetl
— Michaël van de Poppe (@CryptoMichNL) February 10, 2024
Everyone should assume that “the markets will rise much higher than you now think” – because that is how the markets “always move”.
The Dutchman also has a time window ready: the most likely time for these prices to be reached is in the third or fourth quarter of 2025. But, says Poppe:
“If liquidity is maintained, one can expect this bull cycle to last longer, until 2026 or 2027.”
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