pwshub.com

Bitcoin Price Could Surge 200% To Cross $100,000 If This Happens

A crypto analyst has predicted that Bitcoin (BTC), the world’s largest cryptocurrency could see its price surging as high as $100,000, representing a 200% increase from its current value. However, the analyst noted that this bullish projectionwould occur only when certain conditions are met. 

Bitcoin Could Rise To $100,000

In an X (formerly Twitter) post on August 15, Jamie Coutts, the Chief crypto analyst at Real Vision shared his bullish expectations for Bitcoin in 2024. The analyst predicts that Bitcoin could experience a 200% surge, potentially reaching $100,000 before the end of the year.

Coutts argues that Bitcoin could see significant gains in the near future based on global financial conditions, specifically the actions of Central Banks. The crypto analyst noted that central banks are “capitulating,” and the “liquidity spigots are opening,” signaling that Bitcoin’s price is about to go much higher. 

Capitulating here means that Central Banks are easing monetary policies, most likely due to economic pressures. Additionally, opening the liquidity spigots suggests that Central Banks are increasing the money supply through various measures.

Coutts revealed in his post that the Global Liquidity Momentum Model (MSI) has provided a bullish regime signal for the first time since November 2023. He recalled that after witnessing this signal in 2023, Bitcoin rallied as high as 75% from November 2023 to April 2024, before the regime flipped bearish.

Bitcoin
BTC set to go higher as central banks are capitulating | Source: Jamie Coutts on X

The analyst also revealed that over the past month, The Bank of Japan (BoJ) and the People’s Bank of China (PBoC) have injected substantial capital into the system, amounting to $400 billion and $97 billion, respectively. Globally, the money base (credit) has also expanded by $1.2 trillion, facilitated by the weakening United States Dollar (USD). This decrease also indicates a possible coordination with the US Federal Reserve (FED).

Drawing comparisons from previous cycles where Bitcoin rose 19X in 2017 and 6X in 2024, Coutts projects that Bitcoin could witness a 2X to 3X surge in 2024 if the US Dollar Index (DXY) drops below 101. According to TradingView, the US Dollar Index is currently 102.175. A decrease below 101 would likely be a result of continued Central Bank injections that could potentially increase the global money supply (M2) above $120 trillion this cycle. 

Coutts concluded his Bitcoin bull forecast by noting that in a credit-based fractional reserve banking system, the money supply must continually flow and expand to support the outstanding debt. If it does not, the entire financial system could collapse. 

Massive BTC Rally Incoming

In a more recent X post, a crypto analyst identified as ‘Milkybull Crypto,” shared his highly optimistic projections for Bitcoin. Sharing a price chart depicting Bitcoin’s movement from 2016 to 2025, the analyst forecasted that Bitcoin is preparing for a “face-melting parabolic that could potentially see its price surging as high as $190,000.

The analyst predicts that this massive surge could occur in the fourth quarter (Q4) of 2024. He suggests that this potential rally is consistent with historical market patterns, highlighting that “history has indeed prevailed. 

At the time of writing, the price of Bitcoin is trading at $58,548, marking a slight decrease of 1.71% in the last 24 hours, according to CoinMarketCap.

Bitcoin
BTC trading at $58,372 on the 1D chart | Source: BTCUSDT on Tradingview.com

Featured image from iStock, chart from Tradingview.com

Source: newsbtc.com

Related stories
1 month ago - A recent analysis from a CryptoQuant analyst has raised concerns over Bitcoin MVRV Ratio Momentum. The MVRV ratio, a critical indicator in on-chain analysis, represents the ratio between Bitcoin’s realized and market values. It serves as...
1 month ago - The crypto market has been discussing the likelihood that Kamala Harris could address the Bitcoin Conference. This rumor has been put to bed by David Bailey, who said that she would not be attending. However disappointing it may sound to...
1 week ago - Dogecoin entered an extended accumulation range after hitting a new yearly peak in May 2024. Since then, the price has fluctuated widely, presumably giving investors time to enter back into the meme coin at lower prices. However, with the...
1 week ago - Bitcoin has climbed past $58,000 as investors digest yesterday's US inflation report. But bullish momentum is fading, analysts noted.
1 month ago - Bitcoin is currently witnessing a notable pattern on its chart. With the asset undergoing a bullish and bearish trend over the past month, Barchart, a financial market data provider, has revealed that BTC is facing an “Imminent Death...
Other stories
30 minutes ago - After launching a Bitcoin yield ETP, Core wants to bring a similar product to the U.S. "as soon as regulatory frameworks allow it.”
48 minutes ago - Dogecoin could be gearing up for another major surge in price as the meme coin’s chart shows the formation of a major pattern. The Golden Cross pattern is a major bullish formation on a chart that usually precedes a notable rally for...
1 hour ago - Bybit's support for Ethereum's Attackathon underscores the growing emphasis on security and innovation in the crypto industry. The post Bybit backs Ethereum’s first Attackathon with 75 ETH commitment appeared first on Crypto Briefing.
1 hour ago - The arrests and asset freezes highlight the growing effectiveness of international cooperation in combating sophisticated crypto crimes. The post Massive $243 million crypto heist ends with multiple arrests and asset frozen appeared first...
1 hour ago - Maestro's advanced features and broad network support could democratize crypto trading, making it more accessible and secure for a global audience. The post Maestro – Your one-stop solution for seamless crypto trading appeared first on...