Analyst Tuur Demeister predicted Bitcoin’s growth to $600,000

  • Analyst Tuur Demeister, who predicted a “cryptor rally” in 2021, has compiled a new forecast for the Bitcoin exchange rate.
  • By 2026, the asset could grow to $600,000, the expert believes.
  • In his opinion, the growth of Bitcoin will be facilitated by the crisis of the banking system.

Analyst Tuur Demeister, who predicted Bitcoin would rise to $69,000 in 2021, has made a new forecast. He expects the price of the first cryptocurrency to reach $600,000 in two years.

According to the expert, the global crisis and global measures to rescue banks will contribute to the renewal of Bitcoin’s new historical maximum. It is they who will “fuel the explosive growth” of the asset to six figures.

“I am targeting Bitcoin growth to between $200,000 and $600,000 in 2026. This will be facilitated by the trillions of dollars allocated to rescue and stimulate the global economy,” Demeester said.

The expert suggested that the next bull market could consist of two cycles, as was the case in 2013. He admitted the possibility of maintaining positive sentiment for a long time and mentioned problems in the US banking system.

According to Lookonchain data, about 375,000 market participants bought approximately 119,480 BTC at an average price of $50,227. According to experts, these addresses are now at a loss and could increase pressure on sellers.

Meanwhile, the market remains highly likely to undergo a correction before Bitcoin halving, according to CryptoQuant analysts. They pointed to the growth of the UTXO metric, which historically preceded a wave of sales:

Let us remind you that on the night of February 13, Bitcoin surpassed the $50,000 mark, reaching $50,368 at the moment, according to TradingView. At the time of writing, the asset is trading near $49,900:

BTC/USDT exchange rate on the Binance exchange.  Source: TradingView
BTCUSDT exchange rate on the Binance exchange Source TradingView

Matrixport analysts expect Bitcoin to rise to $63,000 in the spring of 2024. Investor and entrepreneur Robert Kiyosaki believes that the asset will soon reach $150,000.

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Barack
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