YouTuber Ben Armstrong opines on when exactly Bitcoin will return to hitting all-time highs, possibly hitting $120,000
Controversial YouTube crypto blogger Ben Armstrong, also known as “BitBoy,” has shared several predictions about the future of the Bitcoin price for the upcoming three years. He believes that during this period the king crypto will return to all-time highs, and then it will be back to the bear market.
Here’s how high Bitcoin may soar, he says offhandedly.
Here’s what will push BTC to new highs, per BitBoy
According to a recent tweet by Armstrong, Bitcoin is at the moment at the level where he expected it to be — the $16,800 zone. By the end of next year, he reckons that BTC will start heading close to the 30,000 level again. As for the possibility of going to new all-time highs, that is likely to happen at the end of 2024, per his tweet.
This will be the year when the next Bitcoin halving is to take place. In a tweet published earlier today, Armstrong stressed the fact that he believes BTC will go up after halvenings, when miners begin to produce half as much BTC from each block. He added, “Of course none of this is guaranteed, but these are my opinions.”
As we head to the last week of 2022, #Bitcoin is exactly where I thought it would be.
By the end of 2023, I believe $BTC will be making significant moves close to $30k again.
By the end of 2024, heading back to all time highs.
End of 2025, back to bear market.
— Ben Armstrong (@Bitboy_Crypto) December 26, 2022
“My knee jerk reaction is $120,000”
Bitcoin halving takes place every four years; the last one was in early May 2020, when the pandemic was spreading around the globe. However, two new all-time highs were not reached in that year but in 2021. It was believed to be largely due to the Federal Reserve launching its printing press, releasing more than $6 trillion into the economy in the form of “survival checks” in 2020 alone.
As for the price Bitcoin may reach when it hits a new all-time high, BitBoy shared his “knee jerk reaction,” and it was $120,000 per coin.
Where do you think the #Bitcoin top will be for the next cycle?
I haven’t fully decided where I stand here. We could get the reversal of diminishing returns.
But my knee jerk reaction is $120k.
Drop your estimates below 👇
— Ben Armstrong (@Bitboy_Crypto) December 26, 2022
Source: https://u.today/heres-when-bitcoin-will-head-back-to-aths-according-to-ben-armstrong