As a seasoned researcher with years of experience in the cryptocurrency market, I find Jamie Coutts’ prediction of Bitcoin reaching $110,000 by 2025 quite plausible. His analysis, based on the correlation between Bitcoin price and global money supply, aligns with my observations of the market trends.
Jamie Coutts, who serves as Real Vision’s chief analyst of cryptocurrencies, anticipates that Bitcoin‘s price might surge to $110,000. He shared insights on what factors are likely to propel Bitcoin to reach this projected price and delved into the reasons behind the current market recovery. Currently, Bitcoin is aiming for a return to the $70,000 mark, which could potentially lead to a new record high (ATH).
Bitcoin Price To Hit $110,000
As an analyst, I foresee a potential surge in Bitcoin’s value according to my predictions made in a previous post. I anticipate that the price could escalate as high as $110,000 given the persistent increase in the global money supply. This upward trend is attributed to the growing demand for Bitcoin and its limited supply, which suggests that when more units of fiat currency enter the system, the value of Bitcoin is likely to rise proportionally.
The accompanying chart he shared showed that the BTC price will reach this $110,000 price target as the global money supply hits $500 trillion. The chart also showed that the crypto would reach this target between April 2025 and July 2025. This aligns with CoinGape’s Bitcoin (BTC) price prediction for that period.
Jamie Coutts pointed out that the relationship between Bitcoin’s price and the worldwide money supply underscores the significance of monitoring the liquidity cycle. He emphasized that comprehending these cycles offers valuable insights, helping us predict when fresh capital might flow into the market, potentially causing prices to increase.
According to the analyst’s assertion, the rapid increase in the global money supply to a record high of $107 trillion accounts for about 80% of the recent surge in Bitcoin’s price. He further suggested that as more fiat currency enters the economy, some of this excess capital may find its way into assets like Bitcoin, which are seen as a hedge against inflation or devaluation.
An increase in worldwide financial transactions might account for Bitcoin’s recent open interest peaking at an unprecedented level of $20 billion. This trend indicates optimism towards cryptocurrency, as it strives to exceed its current record high of $73,000.
Crypto analyst Crypto Rover also recently shared CryptoQuant data, which showed that the BTC reserves on exchanges had hit a six-year low. This is significant as it shows there is currently a massive demand for the flagship crypto. Crypto Rover told market participants that they should get ready for an enormous supply shock.
There Is The Donald Trump Factor
It’s thought that the increased likelihood of Donald Trump winning the U.S. elections has played a role in the recent surge in Bitcoin prices. The current data from Polymarket indicates that Trump’s chances of victory stand at 60.3%. Given this, it seems the market is anticipating Trump as the next President of the United States, and his win could be favorable for Bitcoin, as it tends to rise under such circumstances.
Trump’s backing for digital currencies such as Bitcoin has made him a popular choice amongst crypto enthusiasts. In response to his endorsement, the pro-Bitcoin Political Action Committee (PAC), Bitcoin Voters, recently revealed an advertisement supporting Trump’s presidential campaign.
Currently, Matrixport, a company specializing in crypto research, has expressed that their prediction of Bitcoin reaching $70,000 by year-end might be overly modest if Trump were to win the elections. They pointed out how Trump’s previous administration had policies that were favorable towards Bitcoin, suggesting that such trends could recur.
Based on predictions from a crypto research firm and trading firm QCP Capital, Bitcoin (BTC) appears set to reach a new all-time high (ATH). While BTC is moving in the right direction now, historical trends indicate that it may not hit this ATH until early next year, around January. Additionally, there’s speculation that Trump’s chances of winning are increasing rapidly, and some analysts believe this could impact Bitcoin’s price returns in the coming weeks.
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2024-10-19 00:24