Cryptocurrency experts and analysts Based on their opinions As for how Bitcoin will rise in this bullish cycle, some say the flagship crypto token could rise. Up to $237,000. Now, this crypto expert has made a more ambitious price prediction, increasing the chances of Bitcoin reaching $500,000.
Bullish sentiment indicates Bitcoin could reach $500,000
Cryptocurrency analyst Michael van de Poppe Mentioned by X (formerly Twitter) post He said there is “definitely a chance” that BTC could reach $500,000 in the long term. He based this claim on “overly bullish sentiment,” which is great for Bitcoin.
Michael van de Poppe said that on the way to $500,000 “a correction will happen and it will be tough”. However, he believes this should not deter investors and should present a “huge buying opportunity”, especially if: BTC corrects more than 20%.This is true if Michael Thaler's MicroStrategycontinued to buy as Bitcoin fell and is currently maintained 1% of the circulating supply of Bitcoin.
Interestingly, a pseudonymous crypto analyst (Bitcoin Munger) also recently shared Their Bitcoin goal is $500,000. Unlike Michael van de Poppe, who did not specify a specific date, the analyst suggested that Bitcoin will reach this price level by mid-2025. Meanwhile, Bitcoinmanger echoed Michael van de Poppe's opinion, saying there will be “many scary drops along the way.”
A significant price correction in this bullish cycle seems inevitable, and various crypto analysts continue to emphasize this point. alex thorneis also the head of research at Galaxy Digital. mentioned Even in a bull market, the market is not free to aim higher, so corrections are to be expected.
Most ambitious BTC price prediction ever
So far, the most ambitious Bitcoin price prediction still comes from Jan3 CEO and Bitcoiner Samson Mo.mow Predict BTC could reach $1 million this year.he hinted at the imbalance Between BTC demand and supplywhich is why he believes the flagship crypto token can reach such heights.
Mow believes that because the demand for crypto tokens exceeds the supply of miners, the price of Bitcoin will “react accordingly.” This time's surprise is cut in half When the halving event takes place in April. In the aftermath of the event, Potential scarcity of BTC, it definitely helps push up the price. However, $1 million BTC still looks unimaginable.
At the time of writing, Bitcoin was trading around $67,300, up more than 7% in the past 24 hours, according to data from CoinMarketCap.
BTC drives another market recovery | Source: BTCUSD on Tradingview.com
Featured image from Newsbit, chart from Tradingview.com
