Aurelien Ohayon’s charts highlight Bitcoin’s cyclical price movements, projecting a potential future price of $250,000.
Bitcoin’s recent weekly volatility saw a sharp dip to $64,000, quickly rebounding to approximately $67,800.
Michael Saylor predicts Bitcoin could reach $13 million by 2045, with the U.S. acquiring a majority of global Bitcoin reserves.
A recent prediction by financial analyst Aurelien Ohayon on X has declared the beginning of a new Bitcoin bull run. Two charts, coupled with Michael Saylor’s bold forecast, illustrate Bitcoin’s trajectory and potential future growth, a positive for the crypto market and Bitcoin enthusiasts.
#BITCOIN BULL RUN BEGINS. pic.twitter.com/p0NHGa4S3D
— AO (@AurelienOhayon) July 26, 2024
Historical Price Movements and Cycles
The first chart presented by Ohayon spans from 2013 to early 2024, showing Bitcoin’s price movements on a logarithmic scale. This chart highlights Bitcoin’s overall upward trend, despite its volatility. Notably, Bitcoin’s price has followed a cyclical pattern, characterized by periods of rapid price increases followed by significant corrections or bear markets.
Key developments include Bitcoin trading below $1,000 around 2013-2014, reaching nearly $20,000 in late 2017, and achieving new all-time highs during the 2020-2021 bull run. The most recent data points indicate Bitcoin reaching approximately $67,955 in early 2024.
Colored sections (green for bull markets, red for bear markets) and curved lines on the chart emphasize Bitcoin’s cyclical behavior and project a potential future price of $250,000.
Source; Aurelien Ohayon on X
Weekly Price Volatility and Trends
The second chart focuses on Bitcoin’s price movements over a week-long period from July 21st to July 27th, with prices ranging from approximately $63,000 to $68,000.
The chart demonstrates notable volatility, beginning at around $66,600 and experiencing notable fluctuations. The price dipped sharply around July 24th to its lowest point of about $64,000 but then rebounded strongly to end the period at approximately $67,800, at press time.
This V-shaped pattern, characterized by a substantial dip followed by a good recovery, highlights Bitcoin’s dynamic price behavior within a short timeframe. Green and red color coding highlights price increases and decreases, respectively, with a rapid shift from red to green towards the end of the chart emphasizing the swift recovery.
Source; CoinMarketCap
Michael Saylor’s Bold Bitcoin Forecast
Michael Saylor has also projected that Bitcoin’s price could soar to $13 million by 2045, despite an anticipated decline in its annual growth rate from 55% to 20%. Saylor’s prediction is based on Bitcoin achieving an annual return rate of 29%, resulting in a market cap of $280 trillion, or 7% of global wealth.
Saylor also proposed that the U.S. government should consider acquiring a majority of global Bitcoin reserves. He argued that such a move could boost the U.S. economy and reinforce the dollar’s global standing.
Drawing analogies to historical acquisitions like the Louisiana Purchase and Alaska acquisition, Saylor believes securing a substantial share of Bitcoin would enhance the U.S.’s economic influence in the digital age.
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The post Financial Analyst Announces New Bitcoin Bull Run with $250K Projection appeared first on Crypto News Land.
