Bitcoin’s Future: Macro Expert Lyn Alden’s Bullish Projections
Lyn Alden, a prominent figure in macroeconomics and author, has shared an optimistic outlook on Bitcoin's future performance.
While expressing confidence in the mid-term growth potential, Alden cautioned about possible short-term fluctuations and a probable sideways trend in Bitcoin’s price. She highlighted the supply reduction expected in the next two years coupled with relatively stable demand as factors conducive to price growth.
Acknowledging Bitcoin’s recent rapid ascent, Alden suggested the possibility of a 20% decline, a retesting of the $31,000 breakout level, or a period of sideways movement lasting up to three months within a volatile trading range.
As of the current moment, Bitcoin is valued at $36,539, marking a 20% increase from its recent breakthrough of the $31,000 resistance level.
Alden also pointed out potential catalysts favoring Bitcoin’s bullish trajectory in the upcoming months. Highlighting the 2024 spring event when Bitcoin is set for another supply halving, she emphasized how this reduction in the generation of new coins every 10 minutes could trigger a supply shock.
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Additionally, the possibility of a spot exchange-traded fund (ETF) gaining traction and drawing more demand, particularly if major financial entities like BlackRock endorse it, could further propel Bitcoin’s growth.
This could provide an accessible avenue for significant amounts of locked-up capital to enter the market.