Bitcoin’s price surge could potentially see a further 150% increase during the current bull market cycle, according to Laurent Benayoun, the CEO of Acheron Trading and an expert in quantitative trading strategies.
Benayoun envisions a potential peak for BTC price at $180,000, taking into consideration various factors such as the introduction of spot Bitcoin exchange-traded funds (ETFs) and the upcoming Bitcoin halving event that will reduce the new supply of Bitcoin.
The CEO also pointed out that the improved financial policies in the United States are likely to contribute to the continued appreciation of Bitcoin’s price.
In addition to Benayoun’s optimistic forecast, other analysts have also made bold predictions. Bitfinex analysts foresee the price climbing to $120,000 by the end of 2024, while Bernstein, a wealth management giant, anticipates Bitcoin breaking out to $150,000 by mid-2025 post-halving.
Some more ambitious projections suggest Bitcoin’s price could even peak at $337,000 in a bullish scenario. Notable Bitcoin analyst Willy Woo, in a post on March 11, shared a price model that supports such a potential surge.
Furthermore, some industry figures are setting seven-figure targets for Bitcoin. Ark Invest’s Cathie Wood, for example, believes that a $1 million Bitcoin price by 2030 is too conservative, given the increased institutional involvement in the cryptocurrency market.
As of March 25, Bitcoin has reclaimed the $70,000 mark for the first time in 10 days, currently trading around $70,800 with a weekly increase of over 6.3%.
It is important to note that this article does not offer any investment advice or recommendations, and all investment decisions should be made after conducting thorough research.