Bitcoin will reach at least $285,000, according to analyst

Juan Téllez shows his projections for the price of bitcoin during the current bullish cycle.

The maximum projected by Téllez is above $600,000.

I'm blown away, says Téllez and adds that he does not believe the result.

The takeoff of bitcoin (BTC) to new historical maximum prices since last week shows a strong demand that could continue. According to the trader and analyst of crypto assets

Juan Téllez, this bullish trend could reach values ​​that he finds difficult to imagine.

I'm blown away. comments the specialist in a market report that he published on November 11. I have made a prediction of the price of bitcoin with fundamentals, without smoke, and I do not believe the result, he adds.

According to his estimates, the price of bitcoin will reach USD 285,000 at the minimum and USD 600,000 at the maximum in this bullish cycle. I know it's hard to believe; at least I find it hard to believe, he clarifies. But, in defense, he recalls that, in each BTC cycle, few people believed the price peaks it would reach.

His projection is based on an analysis of the macroeconomic context and the flow of capital that can enter bitcoin, either spot or from ETFs (exchange-traded funds).