bitcoin and altcoin prices have recovered in recent weeks and regained a significant portion of the losses experienced in February’s declines.
Bitcoin price still hovers above $40,000 Ethereum, BNB, XRP, Solana and in Cardano There were also increases of varying degrees.
“Bitcoin Price Will See $200,000 Thanks to the Combined Effect”
Now, a former commodity investor, the Bitcoin bull, has predicted that the BTC price will rise to $200,000 in five years, stating that the bullish momentum will be fueled by a “component effect.”
Greg Beard, an energy investor renowned for acquiring oil and gas companies at Apollo Global Management, said:
“It is very difficult to say where the BTC price will be at the end of this year, but if you are an investor who believes that Bitcoin will be used as a means of accumulation of value, I can say that the price of BTC will double in the next five years.”
With this prediction, Beard said that his target for the BTC price is $ 200,000 for the spring of 2027.
In addition, the analyst claimed that with the increase in inflation in the US and other traditional currencies, interest in cryptocurrencies will snowball:
“As BTC price performs well, interest in BTC will increase. So we will see a resultant effect.”
Despite this, Beard also stated that for the BTC price to rise, it needs to get out of its current state:
“For BTC price to rise, it needs to get rid of its high correlation with high-priced tech stocks.”
The BTC price had moved largely in correlation with technology stocks during the COVID-19 pandemic and the aid distributed to the public during the pandemic.
*Not investment advice.