Leading cryptocurrency Bitcoin is some way off its all-time high. However, analysts looking at historical data and new developments do not overestimate this level. Because their estimates are far beyond this level.
Michaël van de Poppe: 960% for Bitcoin ‘very reasonable!’
As you follow from Kriptokoin.com, Bitcoin reached its peak of $69 thousand in the previous bull market. However, it fell to the level of 15 thousand dollars due to the sharp declines it witnessed in the bear market. Although the leading crypto has stumbled at times since then, it continues on its way with firm steps. Analysts predict a very different future for him. Popular cryptocurrency analyst Michaël van de Poppe says it is ‘very plausible’ that Bitcoin could rise as much as 960% in the next bull market. The analyst begins his statement on which he bases his predictions as follows:
I still believe this bull cycle will be greater than the previous bull cycle in the sense that we will have diminishing returns. Bitcoin has made 14x or 17x or something in between since it went from $3,000 to $69,000. He did even more. And I think diminishing returns don’t mean that if we did 80x in this cycle from 2015 to 2017 and we do 20x in the second cycle here, we should do 5x from now on. Because this (2019-2021) cycle was pushed downward by Sam Bankman-Fried as FTX pushed the Bitcoin price down during this period and there were articles proving this point.
According to Michaël van de Poppe, diminishing returns could also mean it will rise 18x from here (at $16,318 for Bitcoin in early 2023). The analyst said, “You do it 20x. So if we crunch the numbers (from 2019 to 2021) and say, ‘Hey, the bear market is over,’ we get 21x. And, we do 20x from the 2023 market cycle low.” says. Based on this, the analyst comes to the following conclusion:
It is very reasonable to say that Bitcoin could rise to $300,000 to $400,000 in this bull cycle. Because I think there are a lot of new participants joining the markets and it will push prices to a point where it’s very likely we’ll have a 2016-2017 type cycle. Altcoins will still do well during this period.
Macro Guru: $100,000 BTC price is coming!
Macro guru and fund manager Dan Tapiero is optimistic that Bitcoin will potentially reach a six-figure price. Tapiero says that “we will see Bitcoin price above $100,000” in the next bull run. A rise to $100,000 would represent a gain of at least 167% from the current level. A price of $100,000 for BTC is “a pretty conservative estimate,” according to Tapiero. The macro guru suggests that it is possible for BTC to rise further in the next 5 years. In this context, Tapiero makes the following statement:
When I first started looking deeper into this topic in 2019, my target was always around $250,000 to $350,000 for BTC. For me, this was a reasonable figure that could be reached by 2029. So that was my thinking in 2019, until the end of the decade. This is a reasonable number to reach.
Tapiero also weighs in on when Bitcoin could reach a price of $1 million, as previously predicted by ARK Invest CEO Cathie Wood. Macro guru: “I think Cathie came out and said Bitcoin price target is $1 million. And I can reach these numbers… But it could be 2035 or 2038. So, I don’t know. “Or it could be sooner.” she says.
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