One cryptocurrency analyst painted a scenario in which the price of Bitcoin could exceed $200,000 by June. This is based on historical events that could unfold again following the recent rally where BTC surpassed its previous all-time high (ATH).
How BTC will rise to $207,000 by June
An anonymous analyst from the well-known Cryptocurrency hinted. This means that if history repeats itself, Bitcoin could reach $207,000 by June.
Keeping in mind the Bitcoin halving event, it seems feasible for Bitcoin price to triple by June. Bitcoin price more than tripled 90 days after the last halving event. Given that Bitcoin surpassed its previous ATH prior to its scheduled halving in April, the flagship cryptocurrency could also achieve this exponential price surge in record time this time around. be.
This narrative is supported by the fact that the demand for Bitcoin continues to outstrip the supply, and if miners’ rewards are cut in half, the supply will decrease further. Therefore, while ambitious, we cannot rule out the possibility of price increases of this magnitude.
In addition, cryptocurrency analyst MacronautBTC has already calculated that the price of Bitcoin could rise to $237,000 based on the imbalance between supply and demand. Analysts such as Anthony Scaramucci, CEO of SkyBridge Capital, say that BTC’s rise to $207,000 by June will undoubtedly defy expectations, but such a price I don’t expect prices to rise until next year.
Scaramucci predicted that Bitcoin would rise to $170,000 18 months after the halving event. Meanwhile, MV Capital partner and chief investment officer Tom Dunleavy took a conservative stance, saying Bitcoin could rise to $100,000 this year.
What’s next for Bitcoin?
Bitcoin has cooled down after rising to a new ATH of $69,000. As for the next possible move for the flagship cryptocurrency, crypto analyst Satoshi Flipper wrote on He suggested that there is a possibility that the price will firm up between the two.
This is in line with the analysis of Alex Thorn (Head of Research at Galaxy Digital) who noted that BTC could follow a similar path to December 2020. At that time, BTC reached its previous ATH of $20,000, and over the next 15 days it fell 11.3%. Before breaking ATH “definitively”.
At the time of writing, Bitcoin has risen over the past 24 hours and is trading at around $66,000, according to data from CoinMarketCap.
