Over the years of its existence, Bitcoin (BTC) has established a macro-rising trend that has given more investors confidence to predict its future. The flagship coin has in the past respected the four-year cycle, demarcated by the halving events.
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Having gained the confidence of retail trades and institutional investors, Bitcoin is now on the cusp of being adopted by all nation-states as a reserve currency. Moreover, Bitcoin price has registered higher returns than gold over time despite the latter leading to a bullish breakout.
In the long haul, experts believe Bitcoin will be used to settle global national debts, which have scaled to over $300 trillion.
Bitcoin Price Target for this Cycle
If the
#Bitcoin
Long-Term Power Law holds true, the next market top might hit around $400,000!
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— Ali (@ali_charts)
September 24, 2024
According to a popular crypto analyst Ali Martinez, Bitcoin price is on the cusp of entering the next bullish phase that will yield a parabolic rally to the peak. The crypto analyst expects Bitcoin price to reach a cycle high of about $400k in this cycle based on the long-term power law, which has successfully predicted previous cycles.
The yellow periods are boring, bitcoin does not move. It’s all about the short periods in between: 2013, 2017, end-2020. Those are the fundamental price moves. Don’t miss next move!
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— PlanB (@100trillionUSD)
September 20, 2024
A similar narrative has been developed by PlanB’s stock-to-flow (S2F) model, which suggests that a major bull run is on the horizon. According to PlanB, the largest gains of Bitcoin will be registered in the next few months, which will once again prove that the flagship coin is not a pyramid scheme but a mathematical success.
Market Picture
Chinese markets surging 3%. China unleashed powerful policy combo to support the market and the econ this morning.
1. 50bp RRR cut providing RMB 1tn long-term liquidity
2. 20bp 7D reverse repo rate cut
3. 1yr MLF rate cut 30bp
4. Mentioned RRR can be cut another 25-50bp before…
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— Hao HONG 洪灝, CFA (@HAOHONG_CFA)
September 24, 2024
The cryptocurrency market, led by Bitcoin, will attract more liquidity in the coming months amid the ongoing global economic shift. Already four major global economies – led by the United States, Canada, the European Union, and China -have all initiated interest rate cuts to stimulate their respective markets.
Meanwhile, the ongoing de-dollarization fueled by the rising dominance of the BRICS movement has significantly helped in the mainstream adoption of Bitcoin as a reserve currency. The success of MicroStrategy and El Salvador in its Bitcoin strategy has influenced other companies and countries led by Bhutan.
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Price Analysis
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