Their crypto experts and analysts Given their opinions On how Bitcoin will rise in this bull cycle, some believe that the main cryptocurrency symbol could rise To reach $237,000. Now, this cryptocurrency expert has made a more ambitious price prediction, raising the possibility of Bitcoin reaching $500,000.
Bullish sentiment shows that Bitcoin could reach $500,000
Cryptocurrency analyst Michael van de Poppe Marked with an X (formerly Twitter) mail The possibility of BTC reaching $500,000 in the long term “definitely exists.” He based this assertion on “excessive bullish sentiment,” which he noted is great for Bitcoin.
On the way to $500,000, Michael van de Poppe noted, “Corrections will happen and they will be difficult.” However, he believes this should not deter investors and would rather serve as a “giant buying opportunity”, especially when it is BTC is correcting 20% or more. This has been the case with Michael Saylor's precise strategywhich continued to buy on Bitcoin dips and is now holding up 1% of the circulating supply of Bitcoin.
Interestingly, he is also a pseudonymous cryptocurrency analyst (Bitcoin Munger). Recently shared Their Bitcoin target is $500,000. Unlike Michael van de Poppe, who did not provide a specific time frame, this analyst hinted at Bitcoin reaching this price level by mid-2025. Meanwhile, Bitcoin Munger echoed Michael van de Poppe's sentiments, saying that there will be many “ Scary dips along the way.”
Big price corrections in this bull cycle seem inevitable, and various cryptocurrency analysts have continued to stress this point. Alex Thornealso Head of Research at Galaxy Digital Mentioned Corrections are expected because the market does not move to the upside without restrictions, even in a bull market.
The most ambitious BTC price prediction to date
To date, the most ambitious Bitcoin price prediction still comes from the CEO of Jan3 and Bitcoiner Samson Mau. shear pridect That BTC could reach $1 million this year. He pointed out the imbalance Between demand and supply in BTCThis is why he believes the flagship cryptocurrency token can reach such heights.
Mo believes that the price of Bitcoin will “react accordingly” as demand for the cryptocurrency token outstrips supply from miners. This will be the show Cut in half When the halving event is held in April. Event traces can create a file Potential scarcity of BTCWhich will undoubtedly help raise its price. However, a BTC price of $1 million is still unimaginable.
At the time of writing, Bitcoin is trading at around $67,300, up more than 7% over the past 24 hours according to CoinMarketCap data.
BTC drives another market recovery | Source: BTCUSD on Tradingview.com
Featured image from Newsbit, chart from Tradingview.com
