Bitcoin To the moon? Some crypto data experts certainly think so.
of The price of Bitcoin It is currently at $72,880, according to data from CoinGecko. Earlier on Wednesday, the coin hit another new all-time high above $73,600, continuing its recent upward streak.
The new heights are up to continued success BTC Exchange-Traded Funds (ETFs)What you are receiving Record entry flows Interest from traditional investors is increasing. Bitcoin is now said to be in a price recovery mode, which means it has reached an all-time high and is now breaking new territory.
When will it stop?
Experts say there is still a long way to go. Decrypt. But how high depends on a variety of factors and which valuation model the analyst uses.
On-chain data firm CryptoQuant said. Decrypt Using Bitcoin's Metcalfe Price Band, a measure of the number of users in the network, “the highest cycle price here is $170,000.”
Is Bitcoin hitting $170,000 per coin this year? Other prominent commentators have made similar claims—though not to such an extent.
Analysts at the international investment firm AllianzBernstein, for example; he said. In a research note on Monday, Bitcoin may continue to rise due to the huge success of spot Bitcoin ETFs.
Analysts Gautam Chugani and Mahika Sapra argue that the price could reach $150,000 per coin by 2025.
That's because IRAs, private banks and traditional capital pools like sovereign wealth funds have yet to gain exposure to the new ETFs, he said. But when they do, a lot of capital flows into the space.
Bitcoin is also going through a big change in April. Half of it. This event, which takes place every four years, cuts the rewards miners receive in half. Miners working on heavy computer networks have to do more to secure the network and mine new coins.
As analysts have done before They spoke DecryptHalving is very difficult for Bitcoin as the rate at which new coins are created is slowing down. Fewer coins on the market means higher prices – if the demand is there.
Bulls have a point: After each decline in the previous half, asset prices rose sharply — not immediately, but slowly — following the event.
Markus Thielen, head of research at 10x Research, added that this year's US presidential election will also play a role: the coin's value has risen after the previous elections. This year, the largest coin can reach 125,000 dollars.
Ro Schirole, chief operating officer of Sachset, said: “Nobody knows for sure due to a number of external factors, but I wouldn't be surprised if we see a peak between $120,000 and $180,000 before the end of the year.”
He also said there are some predictions. as well He said people were predicting that the coin would reach $350,000 by 2021.
In the end, one can only imagine – anything can happen.
Bob Bodley, CEO of Bitcoin Ordinals marketplace Bioniq said Decrypt While the bull run looks good, “you can make assumptions that everybody really wants to do it — and that's about it.”
Edited by Andrew Hayward.
Disclaimer
The views and opinions expressed by the author are for informational purposes only and are not financial, investment or other advice.
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