Bitcoin to rally more than $500k says some crypto analyst.
Bitcoin has pass $50k but for me,we need a close watch.We are expecting halving in April, looking at the daily chart we see Bitcoin moving to $67k but I expect to see retracement to $40k before any move so as to gather enough momentum.
Bitcoin has more buying pressure on it now than ever because of;
ETF approval which open room for more investors to invest and minimize there risk thereby holding more coins .
Election would also have impact on it move, because of general election coming up in over 50 countries of the world.
Inflation taking it lead.
Tension in economy of countries,etc.
But holding till September 2025 would be worth it since the bull run will last till then.
My question is who buys Bitcoin at that price..?
Will the value of Bitcoin keep increasing after then?
Who is this "crypto analyst"? Would you mind sharing his name or you want to keep it a secret?
I don't think that the elections around the world have any major influence over the Bitcoin price.
Bitcoin will never reach 500K USD. This is ridiculous. Who is doing to spend trillions of dollars pumping the BTC price that high?
Inflation and "tensions in economies of countries" influencing the BTC price? Let me remind you that the inflation in my countries back in 2022 was way higher, but the BTC price in 2022 dropped from 45K to 15K USD, due to the Terra/Luna crash, Three Arrows, FTX drama, etc.
The theory that global inflation is pumping the Bitcoin price isn't always true(it's not true in the short term).