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Bitcoin Price Predictions: From $150K and $200K to a Whopping $21M Per BTC

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TL;DR

Bitcoin’s price recently soared above $56,000, with predictions suggesting a further surge to new all-time highs due to the halving event and investor sentiment.
Bullish market indicators, such as negative exchange netflows and rising futures open interest, hint at increased confidence and trading activity in BTC.

BTC’s Odds to Skyrocket

The price of Bitcoin (BTC) has gone through the roof in the past several hours, rising to almost $57,000 (per CoinGecko’s data), whereas its market capitalization surpassed the $1.1 trillion mark. Despite being up over 135% in a year, the primary cryptocurrency might be just at the beginning of a substantial rally that could take it to a new all-time high in the following months (at least according to some prominent investors and analysts).

The American hedge fund manager Mark Yusko recently claimed that the industry is currently in a “crypto summer” mode, during which BTC might hover between “higher highs and higher lows.” He believes the enhanced volatility would continue until the asset reaches “a fair value” of approximately $75,000.

Yusko predicts that such a peak would occur around June, two months after the next halving, which will reduce the rate at which new BTC is mined. In his view, this is when “the crypto fall” would take place, accompanied by increased hype and FOMO (“Fear of Missing Out”). The combination of all those factors could fuel a BTC price explosion toward $150,000, Yusko concluded:

“We are going to get that FOMO, and in the past, that’s gone to 2.3 times fair value. So when the fair value was 30,000 in the last cycle, we got to 68-69,000. This time, let’s say we only get two times because there’s not as much leverage.”

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Author: Dimitar Dzhondzhorov

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