• Bitcoin (BTC) is set for a 260 percent rally in the coming year, with four consecutive months of gains.
• Analysts predict that the Fed’s softening of its monetary policy will bring liquidity back to Bitcoin and crypto.
• Top market players like Standard Chartered Bank and BCA Research have given calls for Bitcoin price to move past $100,000.
Bitcoin Price Predicted to Surge Past $100,000
Experts are predicting that Bitcoin (BTC) will surge past the $100,000 mark in the coming year after four consecutive months of gains. This comes as the Federal Reserve’s softening of its monetary policy is expected to bring liquidity back into Bitcoin and other cryptocurrencies.
Four Consecutive Green Candles on Monthly Chart
The world’s largest cryptocurrency has had a stellar run this year with BTC prices climbing more than 75 percent since the start of 2023. At press time, it was trading at 2.45 percent down at a price of $28,559 and a market cap of $552 billion. Bloomberg data shows that any four-month winning streak in BTC has been followed up by another 260 percent rally in the following year – setting up for an even greater gain over the next 12 months if it were to replicate its past performance.
Bullish Calls for Bitcoin Over $100K Grows
As we approach halving event in just one year from now, bullish calls for Bitcoin over $100K have grown significantly despite macro headwinds and banking crisis this year. Notable market players such as Standard Chartered Bank and BCA Research have predicted that BTC price will move beyond this milestone in the future due to its hedge-like characteristics against traditional financial sectors which are currently facing downfalls amid COVID-19 pandemic.
Bitcoin Showed Hedge-like Characteristics During Crisis
Christopher Forbes, head of CMC Invest Singapore commented: “The biggest thing for crypto is that it’s a lightning rod for liquidity. And as liquidity returns to the market…I think crypto will continue to trade well.“ Despite economic downturn caused by pandemic and banking sector crisis this year, Bitcoin (BTC) has delivered a strong performance proving itself as hedge against traditional markets during difficult times.
As more institutional investors enter into cryptocurrency space due to growing demand from retail investors, experts believe that we could see unprecedented growth in prices over next few years – with some predicting it could shoot past $100K within 2021/22 timeframe depending upon how global economy performs post COVID-19 crisis recovery phase