“Perfect storm”: BTC can rise to $192,000 this year
Two positive scenarios from top crypto enthusiasts that we really want to believe in have appeared online. And they concern the prospects of bitcoin.
Michael van de Poppe believes that BTC is in the epicenter of a perfect storm. Because of this, the price of the main cryptocurrency will rise to $192,000 by the end of 2024. At the same time, next year the digital asset is capable of rising in price to $600,000.
Michael van de Poppe considers the current situation on the market to be extremely favorable for BTC due to the weakening of the American labor market and growing distrust of traditional financial institutions.
“Central banks are compelled to boost liquidity to spur economic growth, which naturally leads to a rise in the value of tangible assets like gold and Bitcoin,” the crypto analyst noted. His optimism is fueled by several global economic factors that seem to position Bitcoin in what he refers to as a “perfect storm.”
CleanSpark CEO Zach Bradford predicts two price spikes for BTC before the asset returns to a bear cycle. The expert said that the first cryptocurrency will “reach just below $200,000 within the next year and a half.”
“That’ll likely be a peak. But I do think we’ll see a rapid jump, and then hopefully, an extended elongated period of it being up before we revisit a bear cycle,” Bradford said.