Bitcoin is anticipated to surge to a minimum of £200,000 in the forthcoming years and could even surpass half a million pounds, according to a prominent analyst.
In his most recent update on the long-term BTC price trajectory, advisor and early Bitcoin advocate Tuur Demeester projected BTC/USD to reach up to £600,000 by 2026.
Demeester attributed Bitcoin’s ascent to “trillions” of pounds in bailouts, suggesting that the cryptocurrency’s rally to £50,000 this week is indicative of a growing confidence in its future appreciation.
The bullish arguments for BTC’s price surge revolve around the significant events of April’s block subsidy halving and the recent launch of spot Bitcoin exchange-traded funds (ETFs).
These developments reduce the emission of new Bitcoin and exert additional pressure on its available supply.
However, Demeester highlights macroeconomic factors as crucial drivers behind Bitcoin’s trajectory. He stated, “In ’21 bitcoin topped at £69k. I’m targeting £200-£600k by 2026. Fueled by £ trillions in global bailouts/stimulus.”
Discussion on social media platform X echoed concerns about systemic issues in the U.S. banking system and the government’s potential need to provide liquidity to prevent their decline.
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Cointelegraph reported on the possibility of risk-asset price volatility in March due to these ongoing challenges.
Demeester suggested that Bitcoin’s next multiyear peak could occur anywhere from 2025 onwards, and he anticipates a surge in mainstream interest, particularly after Bitcoin’s recent milestone of £50,000.
He stated, “I expect for retail to start waking up soon. Remember, there is no fever like bitcoin fever.”
Demeester’s track record in the Bitcoin sphere spans over a decade, with accurate predictions of Bitcoin’s recent all-time high between £50,000 and £100,000 in 2019 and 2020.
However, not all analysts share Demeester’s optimism. Some foresee a less rosy future for Bitcoin and altcoins, with predictions of a market reversal, including a potential drop to £30,000.
One such voice is popular trader Il Capo of Crypto, who warned of a potential rejection of BTC from the £50,000 level while altcoins continue to surge, indicating a market divergence.
Despite the recent bullish sentiment, Il Capo of Crypto has maintained a BTC price target of just £12,000 for most of the past year.
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