Bitcoin Has the Potential to Surge to $200K During This Market Cycle – Coin Bureau
Coin Bureau's Guy Turner, has shared an intriguing perspective on the potential trajectory of Bitcoin (BTC) in the current market cycle.
In a recent analysis session, Turner conveyed to his extensive audience of 2.42 million subscribers that historical patterns suggest Bitcoin, the leading cryptocurrency by market capitalization, could reach close to $200,000 in this cycle.
Turner highlighted two significant drivers likely to propel BTC’s price upwards. Firstly, he pointed to the impending halving event, which will halve miners’ rewards, historically triggering a surge in Bitcoin’s value. Secondly, he emphasized the impact of the Federal Reserve’s monetary policies, predicting that the continued printing of money by the Fed would further boost Bitcoin’s value.
Anticipating a parabolic rally following the halving event, Turner suggested that Bitcoin could potentially appreciate by approximately 190% from its current valuation post-halving, expected around April 20th.
Putting the monetary landscape into context, Turner referenced the significant increase in the money supply by the US Federal Reserve, particularly between 2020 and 2022, which served as a major driver of the previous market rally.
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Analyzing historical trends and adjusting for inflation, Turner projected a Bitcoin price range of $120,000 to $140,000. However, factoring in the substantial inflation resulting from pandemic-induced money printing, he suggested a potential cycle peak price nearing $200,000.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
