More

    Bitcoin Could Reach This Level This Year According to Expert Analyst!

    Published on:

    According to crypto analysts, Bitcoin (BTC) price could hit a new all-time high this year.

    Markus Thielen, a researcher at 10x Research, stated, “Given the macroeconomic conditions, monetary policies, the U.S. presidential elections, and the increasing demand from traditional investors for Bitcoin ETFs, it seems reasonable for Bitcoin to rally up to $70,000.”

    Thielen had previously predicted that Bitcoin’s price would reach $45,000 by the end of 2023. However, he now suggests that market developments have exceeded expectations and Bitcoin’s price could reach even higher levels.

    Thielen also noted that this year’s presidential elections coincide with Bitcoin’s halving cycle. Bitcoin has experienced three halving events so far, during which it has seen an average appreciation of 192%. Therefore, Thielen suggests that this year’s election period could potentially bring a price surge for Bitcoin.

    Related