While Donald Trump’s failure to mention Bitcoin and cryptocurrencies at his inauguration brought about a decline, one analyst said the BTC price could reach around $186,000 by the end of the first quarter.
Van Straten, a market analyst followed by investors, argued that if Bitcoin continues to follow its 2017 cycle, the price could reach around $186,000 by the end of the first quarter and above $1 million by October.
Pointing out that the sudden collapse of FTX is the bottom of the bear market and Bitcoin, the analyst stated that it has increased by 550% from the bottom level of approximately $ 15,500.
Stating that this increase is also compatible with the 2015-2018 cycle, the analyst said that a big rally will occur:
“If Bitcoin continues to follow the 2015-2018 cycle, it will finish approximately 1,100% higher than the cycle low by the end of Q1 2025, taking its price to $186,000.
The peak in the cycle would then occur around October of this year with an 11,000% increase, with the top of the cycle being around $1.7 million.”
Finally, the analyst made another comparison regarding the rise of Bitcoin. At this point, the analyst said that Bitcoin increased 20 times during Trump’s first term, and even a 10-fold increase in this cycle would bring the BTC price to $1 million.
Bitcoin, which broke a new record yesterday with the excitement of Trump’s inauguration, exceeded $ 109,000 and continues to be traded at $ 104,270.
*This is not investment advice.
Source: https://en.bitcoinsistemi.com/famous-analyst-announces-incredible-short-term-price-prediction-for-bitcoin-btc-gives-date-for-the-summit/