The biggest cryptocurrency by market cap, Bitcoin (BTC), might see a price spike of up to $100,000, or 200%, according to a crypto expert. This positive prediction, however, would only materialize if certain criteria are satisfied, as pointed out by the expert.
A Possible $100,000 Bitcoin Crash
Real Vision's chief crypto analyst Jamie Coutts expressed his optimistic outlook for Bitcoin in 2024 in a post on X (previously Twitter) on August 15. According to the researcher, Bitcoin's value might skyrocket by 200%, perhaps reaching $100,000 by year's end.
Global financial circumstances, and the activities of central banks in particular, might lead to substantial gains for Bitcoin in the near future, according to Coutts. According to the crypto expert, central banks are "capitulating" and "liquidity spigots are opening," which means that the price of Bitcoin is going to skyrocket.
Central banks are softening monetary policies, which is a sign of capitulation, possibly in response to economic pressures. Furthermore, central banks are taking different actions to increase the money supply, which is shown by opening the liquidity spigots.
The Global Liquidity Momentum Model (MSI) has given a positive regime signal for the first time since November 2023, according to Coutts's report. According to his memory, Bitcoin saw a 75% rally from November 2023 to April 2024 after the occurrence of this signal, before the market turned negative.
Also disclosed by the expert was the fact that the BoJ of Japan and the PBoC of China had recently pumped massive sums of money into the system—$400 billion and $97 billion, respectively. As a result of the decline of the USD, the money supply (credit) has grown by $1.2 trillion worldwide. One probable explanation for this decline is cooperation with the Federal Reserve (FED) of the United States.
Using historical data, such as a 19X increase in 2017 and a 6X increase in 2024, Coutts predicts that, should the US Dollar Index (DXY) fall below 101 in 2024, Bitcoin would see a 2X to 3X spike. The current value of the US Dollar Index is 102.175, as reported by TradingView. Central banks are expected to keep pumping money into the economy, which may lead to a rise in the global money supply (M2) beyond $120 trillion this cycle and a decline below 101.
At the end of his Bitcoin bullish prediction, Coutts made the point that under a fractional reserve banking system built on credit, the money supply has to grow and circulate constantly to cover the debt. The whole banking system might collapse if this doesn't happen.
An Epic Bitcoin Rally Is On The Way
A crypto analyst going by the name of "Milkybull Crypto" recently made an X post in which he expressed his extreme optimism about Bitcoin's future. The expert, who shared a price chart showing Bitcoin's path from 2016 to 2025, said that the cryptocurrency is getting ready for a "face-melting parabolic" that may trigger a price surge of up to $190,000.
According to the analyst's predictions, this huge spike may happen in the last quarter of 2024. He emphasizes that "history has indeed prevailed" and implies that this possible rebound is in line with market tendencies throughout history.
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