This cycle, with the half of BTC next month, Bitcoin ETFs, and the loosening of monetary policy, might see a price increase of over 100%. According to Laurent Benayoun, CEO of Acheron Trading and expert in quantitative trading tactics, BTC might rise by a further 150% during the current bull market cycle.
Peak Price Of Bitcoin: $180,000?
The executive believes that the price of Bitcoin might reach a possible cycle peak of $180,000 due to several reasons, such as the spot price of exchange-traded funds (ETFs) and the fresh supply reduction from the impending Bitcoin halving. “If we look at historical performance, the multiple on the all-time is getting lower with every cycle,” Benayoun clarified. In light of this, the price per unit may be between $120,000 and $180,000 if we use this logic, which is two to three times what we witnessed in the prior cycles. The market is pricing in a fall in interest rates because they have been flatlining, so it is realistic to anticipate them to go down shortly, says Benayoun, who also believes that improved financial policies in the US would help drive up the price of Bitcoin.
Benayoun’s estimate is consistent with several other recent projections. For example, according to a study paper published with Cointelegraph, Bitfinex researchers predict that the price will reach $120,000 by the end of 2024.
