Crypto experts and analysts have given your opinions on how Bitcoin could rise in this bull cycle, with some opining that the leading crypto token could rise up to $237,000. Now this crypto expert has given a more ambitious price prediction, raising the possibility of Bitcoin reaching $500,000.
Bullish sentiment shows Bitcoin could reach $500,000
Crypto Analyst Michaël van de Poppe mentioned in an X (formerly Twitter) publish that the probability of BTC reaching $500,000 in the long term “definitely exists.” He based this statement on “overly optimistic sentiment,” which he noted is great for Bitcoin.
On the way to $500,000, Michaël van de Poppe noted that “corrections will happen and they will be difficult.” However, he believes this should not discourage investors but serve as a “giant buying opportunity,” especially when BTC corrects 20% or more. This has been the case Michael Saylor’s Microstrategywho continued to buy on Bitcoin dips and now maintains 1% of the circulating supply of Bitcoin.
Interestingly, a pseudonymous crypto analyst (Bitcoin Munger) also recently shared his Bitcoin goal of $500,000. Unlike Michaël van de Poppe, who did not provide a specific time frame, this analyst suggested that Bitcoin would reach that price level in mid-2025. Meanwhile, Bitcoin Munger echoed Michaël van de Poppe’s sentiment, stating that there will be many “ scary falls along the way.”
Significant price corrections in this bull cycle seem inevitable, and different crypto analysts have continued to emphasize this point. Alex EspinhoHead of Research at Galaxy Digital, also mentioned corrections are expected, as the market does not move upwards without restriction, even in a bull market.
The most ambitious BTC price prediction yet
So far, the most ambitious Bitcoin price prediction is still from the CEO of Jan3 and Bitcoiner Samson Mow. Cut predictions that BTC could reach $1 million this year. He alluded to the imbalance between BTC demand and supplywhich is why he believes the leading crypto token can reach such heights.
Mow believes the price of Bitcoin will “react accordingly” as demand for the crypto token outpaces supply from miners. This supply will be cut in half when the Halving event takes place in April. The outcome of the event can create a potential BTC shortage, which will undoubtedly help increase its price. However, $1 million BTC still seems unimaginable.
At the time of writing, Bitcoin is trading around $67,300, up more than 7% in the last 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
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