bitcoin, Although the spot rallied above $45,000 on growing optimism that Bitcoin ETFs would be approved, a negative report from Matrixport brought the price down.
While most analysts argue that there will be a huge increase in the BTC price with the approval of the ETF, the famous macro analyst and crypto doyen among these names Lyn Aldenrecently participated in the latest program of famous podcaster Peter McCormack and announced his BTC price expectation.
Thinking that there is a tight correlation between Bitcoin cycles and global liquidity, Alden claimed that the $100,000 prediction for BTC would be inadequate for the ongoing bullish cycle.
At this point, the famous name points out that global liquidity looks positive for the Bitcoin price for 2024 and 2025. He said he expected six figures for the BTC price, but $100,000 was not satisfactory.
“I foresee a positive picture in terms of liquidity in 2024 and 2025, and this may also benefit risky assets such as Bitcoin.
A scenario could occur where Bitcoin would gain approximately 340% from current price levels before the end of 2025.
My main expectation is that all-time highs will be seen. I hope it will be over $100,000. Because I think BTC will reach six figures.
At this point, I think $100,000 will be a bit of a disappointment for the bull market cycle.
So I expect Bitcoin to rise to $200,000 or more over the next two-plus years.”
Finally, Alden added that global liquidity and Bitcoin cycle correlation do not provide a clear indication of how high or low the BTC price might be.
*This is not investment advice.
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