There are all kinds of crypto predicitons out lately, and the newest one refers to the price of Bitcoin. Check it out below.
Bitcoin new prediction is out
A popular crypto strategist is expressing long-term bullish sentiment for Bitcoin (BTC) as the next halving approaches.
The host of crypto YouTube channel InvestAnswers said that Bitcoin could rally by nearly 380% from current levels en route to printing a new all-time high at the top of the next bull market.
“I’m sticking with a much more conservative price of $80,000 for the next cycle. That would be sometime in the year 2024.”
He continued and said the following:
“I do believe we could hit about $61,000, $62,000 by April 2024 – and that is right at the halving of April/May 2024.”
Citing Metcalfe’s Law, the crypto analyst says that Bitcoin could hit a price of $1.5 million by 2030 once the number of wallets increases to 3.4 million.
As the notes from the online publication the Daily Hodl notes, Metcalfe’s Law states that the value of a network is directly related to the number of users it has.
“If Metcalfe’s Law holds, which it does for all other industries, the conservative model has Bitcoin reaching… 3.4 million [wallets] by the year 2030.”
At the moment of writing this article, BTC is trading in the green, and the king coin is priced at $16,843.
Bitcoin’s reversal into a bullish asset is near
According to the latest reports, Bitcoin could soon turn bullish, but, as always, there is a catch.
The popular crypto analyst and trader Kaleo said that there is one classical indicator that suggests the fact that there could be an emergence of a new Bitcoin bull market ahead, and this is a pretty exciting thing to learn.
Check out our previous article in order to learn more details about this. Stay tuned for more news.
