Seasoned analysts and industry veterans continue to share their insights, fueling speculation on Bitcoin’s future trajectory. Renowned macro expert and crypto veteran Lyn Alden recently shared her views on the What Bitcoin Did podcast, highlighting her expectations for Bitcoin’s price in the upcoming bull market.
Alden emphasized the strong correlation between global liquidity and Bitcoin’s market cycles, considering the rise or fall of liquidity as a reliable indicator of Bitcoin’s performance. Despite this correlation, she noted the challenge of estimating the magnitude of price movements, suggesting that traditional models like stock-to-flow may not be entirely applicable to Bitcoin’s unique nature.
Bitcoin is highly correlated with liquidity in terms of direction, but there’s very little way to judge a price from it. It’s not useful for magnitude, so it’s not one of those stock-to-flow models where you can say, ‘Okay, at this date it should be this price, Alden explained.
Alden anticipates a positive outlook for liquidity in 2024 and 2025, envisioning potential benefits for risk-on assets like Bitcoin. Her base-case expectation involves a rally of approximately 340% from current price levels before the end of 2025. While expressing hope for Bitcoin to achieve new all-time highs, she emphasized that a peak of $100,000 would be underwhelming for the ongoing bull market, aiming for a more ambitious target of $200,000 or more over the next two-plus years.
“At this point, I’d be hesitant to guess where that ends up. I think that something like $100,000 plus would be kind of disappointing for a bull market cycle, especially after the prior bull market cycle was on a disappointing end, too. So I’d kind of hope for $200,000 or more over the next two-plus years,” Alden remarked.
As of the latest update, Bitcoin is trading at $45,200, reflecting a slight decrease of almost 1% over the past day. However, market sentiments remain optimistic, with analysts projecting substantial growth in the coming years.
Adding to the speculation, Samson Mow, CEO of Jan3, believes that Bitcoin has the potential to surge to $1 million within days to weeks following the approval of a spot Bitcoin ETF. Mow highlighted the combination of a limited Bitcoin supply on exchanges and a surge in institutional investment, creating a scenario where prices can skyrocket in a remarkably short period of time.
You’re hitting a very limited supply of Bitcoin on the exchanges, and it’s available for purchase with a torrent of money. This is why you can go high all at once, Mow stated.
In conclusion, the cryptocurrency community is abuzz with anticipation as experts forecast a bullish trajectory for Bitcoin, with Lyn Alden targeting $200,000 and Samson Mow envisioning the possibility of reaching $1 million after the approval of a spot Bitcoin ETF. As the market continues to evolve, these predictions add to the ongoing dialogue surrounding the future of the leading cryptocurrency.
