Bitcoin pioneer predicts Bitcoin price to reach $600,000 by 2026, after accurately forecasting 2021’s record-breaking peak.

Bitcoin (BTC) is predicted to reach a minimum of $200,000 in the coming years, and it could even surpass half a million dollars, according to a well-known analyst. Tuur Demeester, an advisor and early Bitcoin supporter, has recently updated his long-term BTC price analysis, projecting that BTC/USD could reach up to $600,000 by 2026. This optimistic outlook for Bitcoin comes as it reached $50,000 this week, with many believing that even higher price levels are on the horizon. The bullish arguments for BTC’s price surge focus on the significant impact of the block subsidy halving in April and the introduction of spot Bitcoin exchange-traded funds (ETFs). The former reduces the supply of new Bitcoin, while the latter is already putting additional pressure on the available supply. However, Demeester believes that macroeconomic factors also play a crucial role in Bitcoin’s future performance. He points out the systemic problems in the U.S. banking system and the government’s obligation to provide liquidity to prevent their decline. This ongoing process has already led to potential risk-asset price volatility in March. When asked about Bitcoin’s next multiyear peak, Demeester suggests that it could occur anytime from 2025 onwards. He also believes that the current price milestone of $50,000 will serve as a turning point, leading to increased mainstream interest in Bitcoin. Demeester is renowned for his contributions to the Bitcoin community over the past decade and accurately predicted the recent all-time high price between $50,000 and $100,000 in 2019 and 2020. However, not everyone shares this optimistic view. Some market participants, including popular trader Il Capo of Crypto, anticipate a market reversal and a potential drop to $30,000. Il Capo of Crypto has maintained a conservative BTC price target of just $12,000 for most of the past year. It’s important to note that this article does not provide investment advice or recommendations, and readers should conduct their research before making any financial decisions.