Bitcoin (BTC) has the potential to increase by 150% in the current bull market cycle, according to Laurent Benayoun, CEO of Acheron Trading and an expert in quantitative trading strategies. Benayoun predicts that the price of BTC could reach a cycle top of $180,000. This prediction is based on various factors, including the introduction of Bitcoin exchange-traded funds (ETFs) and the upcoming Bitcoin halving, which will reduce the supply of new coins.
Benayoun also believes that the improvement of financial policy in the United States will contribute to the appreciation of Bitcoin’s price. His prediction aligns with other recent forecasts. Analysts from Bitfinex, for example, anticipate that the price could reach $120,000 by the end of 2024.
Wealth management giant Bernstein expects Bitcoin to break out and reach around $150,000 following the halving by mid-2025. More ambitious targets suggest that Bitcoin’s price could peak at $337,000 in a bullish scenario. Bitcoin analyst Willy Woo, in a post on March 11, shared a BTC price model that supports this prediction.
Furthermore, even seven-figure price targets are emerging. Cathie Wood from Ark Invest, for instance, believes that a $1 million Bitcoin price by 2030 is too conservative. Wood stated that their target is well above that, considering the expected institutional involvement in the market.
On March 25, Bitcoin surpassed the $70,000 mark for the first time in 10 days. The price of BTC has increased by over 6.3% on the weekly chart and is currently trading around $70,800.
Please note that this article does not provide investment advice or recommendations. It is important for readers to conduct their own research before making any investment or trading decisions.