đ Bullish Sentiment Shows Bitcoin Can Reach $500,000 đđ
đ Crypto analyst MichaĂ«l van de Poppe mentioned in an X (formerly Twitter) post that the likelihood of BTC reaching $500,000 long-term is âdefinitely there.â He based this assertion on the âoverly bullish sentiment,â which he noted is great for Bitcoin. On the road to $500,000, MichaĂ«l van de Poppe noted that âcorrections will happen and they will be rough.â However, he believes this shouldnât deter investors but serve as a âgiant buying opportunity,â especially when BTC corrects 20% or more. This has been the case with Michael Saylorâs MicroStrategy, which has continued to buy on Bitcoin dips and now holds 1% of Bitcoinâs circulating supply.
đ Significant price corrections in this bull cycle look inevitable, and different crypto analysts have continued to emphasize this point. Alex Thorn, Head of Research at Galaxy Digital, also mentioned that corrections are expected as the market doesnât move to the upside unfettered, even in a bull market.
đ The Most Ambitious $BTC Price Prediction Yet: So far, the most ambitious Bitcoin price prediction is still from Jan3 CEO and Bitcoiner Samson Mow. Mow predicts that BTC could hit $1 million this year. He alluded to the imbalance between BTCâS demand and supply, which is why he believes the flagship crypto token can reach such heights. Mow believes that Bitcoinâs price will âreact accordinglyâ as demand for the crypto token outpaces minersâ supply. This supply will be cut in half when the Halving event takes place in April. The aftermath of the event can create a potential scarcity for BTC, which will undoubtedly help drive its price up. However, BTC at $1 million still looks unimaginable.
đ At the time of writing, Bitcoin is trading at around $67,300, up over 7% in the last 24 hours according to data from CoinMarketCap.
