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New Forecasts Suggest Bitcoin Could Reach $180K in Current Bull Market

ByDayne Lee

Mar 31, 2024
New Forecasts Suggest Bitcoin Could Reach $180K in Current Bull Market

New Forecasts Suggest Bitcoin Could Reach $180K in Current Bull Market

In the ever-evolving landscape of cryptocurrency, Bitcoin‘s price trajectory continues to be a subject of intense speculation and analysis. Laurent Benayoun, CEO of Acheron Trading and an authority on quantitative trading strategies, has offered a bullish outlook for Bitcoin, projecting a potential increase of 150% during the current bull market cycle. This optimistic forecast points towards a cycle peak that could see Bitcoin soaring to $180,000.

Anticipated Cycle Peak and Contributing Factors

Benayoun’s projection is grounded in a detailed analysis that considers various influential factors, including the advent of spot Bitcoin exchange-traded funds (ETFs) and the anticipated supply reduction stemming from the upcoming Bitcoin halving event. Reflecting on historical trends, Benayoun suggests that if past cycles are any indication, Bitcoin’s price could multiply by two to three times from previous peaks, positioning it in the $120,000 to $180,000 range per unit.

A pivotal component of this bullish scenario is the anticipated improvement in the United States’ financial policy landscape. Benayoun notes the market’s expectation for a reduction in interest rates, which have remained relatively stable, suggesting that a downturn in rates could be imminent. This shift is anticipated to play a significant role in propelling Bitcoin’s value upwards.

Comparative BTC Price Predictions

The projection by Acheron Trading aligns with several other forecasts within the financial analysis community. Bitfinex analysts have posited a conservative target of $100,000 to $120,000 by the end of 2024, citing the passive demand generated by ETFs as a key driver. Similarly, Bernstein, a leading wealth management firm, predicts a breakout to approximately $150,000 following the mid-2025 halving.

An even more ambitious outlook comes from Willy Woo, Bitcoin analyst and managing partner at CMCC Crest, who envisions a peak of $337,000 in a bullish scenario. Furthermore, Cathie Wood of Ark Invest has posited a scenario where Bitcoin surpasses the $1 million mark by 2030, a target she now considers conservative given the expected surge in institutional involvement.

Bitcoin’s Recent Performance

Adding credence to these optimistic forecasts, Bitcoin recently reclaimed the $70,000 milestone on March 25, marking its first return to this valuation in ten days. With a weekly gain exceeding 6.3%, Bitcoin’s trading price hovers around $70,800, signaling robust momentum as it navigates the currents of the current bull market.

Analyst/OrganizationPredicted Price Range/TargetExpected Timeline
Laurent Benayoun, Acheron Trading$120,000 – $180,000Current bull market cycle
Bitfinex Analysts$100,000 – $120,000Q4 2024
Bernstein~$150,000Post mid-2025 halving
Willy Woo, CMCC CrestUp to $337,000Current bull market cycle
Cathie Wood, Ark InvestAbove $1 millionBy 2030

As Bitcoin continues its journey through the current bull market, projections from leading analysts and financial experts paint a picture of significant growth potential. With factors such as regulatory developments, ETFs, and macroeconomic policies playing pivotal roles, the cryptocurrency’s future looks promising. As the market anticipates the upcoming halving and its impact, investors and enthusiasts alike remain watchful, ready to navigate the opportunities and challenges that lie ahead in the evolving landscape of digital assets.

Featured image credit: Dmytro Demidko via Unsplash

Dayne Lee

With a foundation in financial day trading, I transitioned to my current role as an editor, where I prioritize accuracy and reader engagement in our content. I excel in collaborating with writers to ensure top-quality news coverage. This shift from finance to journalism has been both challenging and rewarding, driving my commitment to editorial excellence.

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