It is unfolding in all its glory, the bull run in Bitcoin and cryptocurrencies such as Ethereum, Solana or Cardano! A renowned financial strategist now explains in a forecast: According to calculations, BTC is heading towards 200,000 USD. Should investors get in now – or are there alternative strategies?
When does Bitcoin reach 1 million?
The time has come: the Bitcoin bulls are trampling. Once again – the break was long. BTC was able to gain almost 21% within the last seven days, the digital asset leads the crypto markets. Although many smaller cryptocurrencies are also pumping in three figures, the industry’s focus is – unmistakably – on BTC. BTC over 60,000 USD, BTC close to all-time high, BTC soon to reach six figures, BTC maybe seven figures.
So far only one cryptocurrency has really arrived in the financial world – BTC. And that is now evident in the rise. BTC analyst Vivek comments:
“BTC is now the 5th largest currency in the world.”
#Bitcoin is now the 5th largest currency in the world. pic.twitter.com/IxtJMfrj3o
— Vivek⚡️ (@Vivek4real_) February 28, 2024
And BTC influencer Sunny Decree adds:
“BTC just overtook #META (Facebook) by market cap and is now in the top 9 assets by market cap. Silver is the next goal!”
BREAKING NEWS: #Bitcoin has just surpassed #META (Facebook) by market capitalization and is now among the top 9 assets by market cap. #Silver is the next target! pic.twitter.com/X5E9vYTQm6
— sunnydecree (@sunnydecree) February 29, 2024
Slowly, even among stubborn doubters, a realization is gaining ground: the BTC bull run, the rally in cryptocurrencies – it’s just beginning. But how high could BTC rise, what should investors expect? And: Is there a risk of a crash – or is that out of the question for now?
Analysts are of two minds here. Top financial strategist Anthony Scaramucci, for example, is positioning himself bullish.
Bitcoin forecast: 200,000 USD – after the halving!
The former White House communications director has looked at Bitcoin’s past performance – and optimistically calculates: If BTC behaves even remotely like it has in the last 14 years, then the BTC price will soon quadruple! Scaramucci:
“If you look at the last 14 years, you typically get a quadrupling after a halving.”
He is not sure where BTC will be at the halving on or around April 20th. But, according to the top analyst:
“Let’s say it’s at 50,000 USD. This would mean reaching a BTC price of 200,000 USD within 18 months of the halving.”
However, Bitcoin is currently trading at more than 62,000 USD. If the asset manages to reach its previous all-time high of 68,789 USD by the halving, the BTC price could even reach more than 275,000 USD, according to Scaramucci’s calculations. In relation to the current price, this corresponds to a potential return of +343.548%!
Reason for the bull run: the Bitcoin ETFs . They buy more Bitcoin from the markets every day than miners produce. The supply will soon be significantly below demand – with corresponding consequences for the BTC price. Nevertheless, BTC may not go straight up.
Top trader Michael van de Poppe, for example, writes to his almost 700,000 followers: He sees a possibility of a decline to 46,000 USD. In relation to the current price, this would be equivalent to a correction of more than -26%.
#Bitcoin manages to reach a $670 million net inflow.
Mostly, this is coming through Blackrock's ETF and interest.
The price is $62,600, with insanely strong movements before the halving.
What to look for?
If a correction happens, I aim at $46K or $53K for longs. pic.twitter.com/4l8W1ukBy7
— Michaël van de Poppe (@CryptoMichNL) February 29, 2024
Buy Bitcoin? Or wait?,It might be worth waiting before buying BTC or investing in BTC projects that currently have a more attractive risk-return ratio.
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