Bitcoin no longer "owes" anyone……
Written by: 1912212.eth, Foresight News
Bitcoin no longer "owes" anyone……
After 27 months, the sound of "Bitcoin is about to break 7" has resurfaced in the crypto world, and today Bitcoin officially broke through the milestone of the previous bull market at 69,000, reaching a historic high of 69,080 USDT at the time of writing, with a 44% surge in February and a 10% surge in the first week of March. In the past few Bitcoin halving cycles, there has often been a rapid rise in prices about half a year after the halving, but this time it seems to have come a bit early.
After breaking through all the so-called "previous highs," Bitcoin has entered a "resistance vacuum zone" at a technical level. What will be the next trend in the market? Can the rapid rise after the "regular" halving be repeated given the considerable gains already accumulated?
Foresight News has compiled the medium- to long-term judgments made by institutions and some KOLs in recent times for reference.
Matrixport analyst Markus: Bitcoin may reach $125,000 by the end of this year or next year
Matrixport analyst Markus Thielen has made accurate predictions in the past, but has also sparked controversy and market fluctuations with his negative views on whether Bitcoin spot ETF will be approved.
He stated: In the election years of 2012, 2016, and 2020, the average return rate of BTC was 192%, and Bitcoin rose by over 100% each year. Last July, we saw an indicator that when Bitcoin sets a new high within a year, there will be a 300% rebound. Our prediction was accurate last year, and this year may be more conservative. Bitcoin may reach $125,000 by the end of this year or next year.
Galaxy Digital founder Novogratz: Bitcoin may experience some adjustments before reaching a "substantial increase" by the end of the year after hitting a historic high
Michael Novogratz accurately predicted the market recovery in the late summer of last year. In a recent interview, he stated that if there is a pullback, BTC may drop to around $50,000 before reaching a new high. Compared to the bull market in 2021, the leverage ratio of large institutional participants is lower in the current cycle, but the leverage ratio of retail traders is too high.
Fundstrat co-founder Tom Lee: Short-term target may be $82,000
Tom Lee stated in an interview with CNBC that BTC may reach $82,000 in the short term and $150,000 by the end of the year. It is worth mentioning that in August last year, Tom Lee stated in an interview that the approval of a Bitcoin spot ETF by the US SEC may push the price above $150,000.
Renowned analyst PlanB: Average BTC price for the 2024-2028 cycle is $532,000
PlanB, known for his invention of the S2F chart, gained fame, but faced criticism for inaccurate predictions after the last bull market. This time, he once again predicted that the price of Bitcoin for the 2024-2028 period will be $532,000 on Twitter.
JPMorgan: Bitcoin price may drop to $42,000 after the halving in April
JPMorgan analysts analyzed at the end of February that the price of Bitcoin will drop to $42,000 after the halving, citing the decrease in miner rewards and rising mining costs. The analysts stated that Bitcoin mining costs have become the lower limit of Bitcoin prices, and the current BTC mining cost is in the range of $26,500, which will double to $53,000 after the halving event.
ChatGPT: BTC may reach $88,000 this year
According to a test by a Twitter user, after inputting data into ChatGPT, the following data chart was generated. ChatGPT predicts that BTC may reach $88,000 this year and exceed $100,000 by the end of next year.
Trader Alan Tardigrade: $130,000 by the end of the year
Renowned trader Alan Tardigrade posted a chart on Twitter (in February this year), indicating the appearance of a so-called "handle chart," which predicts that BTC will reach $130,000.
Capriole Investments founder: BTC will exceed $250,000 in 2025
Charles Edwards, founder of digital asset fund Capriole Investments, tweeted that if the post-halving return is the same as in 2020, the price of Bitcoin will reach $280,000 next year.
Cryptocurrency analyst Tuur Demeester: Bitcoin price will fluctuate between $200,000 and $600,000 by 2026
Renowned cryptocurrency analyst and early Bitcoin advocate Tuur Demeester predicts that the price of BTC will fluctuate between $200,000 and $600,000 by 2026, mainly due to Fed rate cuts, among other reasons.
In 2019, Deemester tweeted that Bitcoin would reach $50,000 to $100,000. During the 2021 bull market, Bitcoin reached a historic high of $69,000.
Renowned analyst cevo: Buy on dips
If BTC surges to $120,000, then sell all tokens at that time, although this may miss out on the most profitable weeks for altcoins (although they will eventually fall like BTC). I won't waste time predicting the market top. Sell some after a huge surge in the market, and buy on significant dips.
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