A highly praised digital currency analyst predicts that Bitcoin will rapidly rise and is likely to hit a historic high within the next year and a half.
According to The Daily Hodgl, in a resource update released earlier this week, James Mullarney, the host of the YouTube channel's "InvestAnswers" program, informed the channel that the program has over 443000 users and that Bitcoin prices may reach a historic high in June 2024.
Its possibility stems from a thorough analysis of the historical performance of the Bitcoin. The host conducted a scientific study on the timeline of Bitcoin's cycle time and explained the average rebound time after Bitcoin plummeted from its peak. Based on the current cycle time positioning, this strategist believes that the gap between everyone and the historical high is also over 415 days.
However, the host also elaborated on the probability of price adjustments before Bitcoin achieves this implicit new peak. This type of estimation comes from the personal behavior of Bitcoin in many previous cycles, which typically includes retesting the bottom point. The host urges the audience to be fully prepared for such situations in the current cycle, especially considering the existing macroeconomic policy tests.
However, despite this estimated change, the host noticed that Bitcoin's performance during such a cycle seems to be stronger than before. The host mentioned two key differences: the faster improvement of Bitcoin and the emergence of other related factors. Although there has been a reversal in the wind, this strategist may have seen SF Express, such as the banking crisis, which may have contributed to the appreciation of people's understanding of Bitcoin as a store of value.
At the time of report release, the transaction price of Bitcoin was $26614, which has dropped by 3.14% in the past 24 hours.