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In a recent report, a popular cryptocurrency analyst, Jamie Coutts, claims that the price of Bitcoin (BTC) could hit as high as $100,000 in 2024 if banks keep capitulating and liquidity spigots keep opening.
This potential surge in Bitcoin’s (BTC) price could significantly influence the value of other altcoins, making it a strategic time to diversify into one of the hottest crypto projects, ETFSwap (ETFS), which has positioned itself to benefit from this bull run.
Is Another Bull Run Approaching For Bitcoin (BTC)?
As famous analyst Jamie Coutts claimed, another bull run market looks to be coming soon. In an X (formerly Twitter) post, Coutts asserted that “central banks are already capitulating, the liquidity spigots are opening, and Bitcoin (BTC) is about to go much higher.”
He further states that, within the last month, the BoJ and the PBoC have added $400B & $97B, respectively, and the broad global money base (credit) has expanded by $1.2T, which has been massively helped by a sharp dip of the US dollar. Coutts claims it suggests that it is coordinated with the Fed’s consent.
Now, for BTC to meet this target, the DXY would need to be well below 101, prompted by ongoing central bank injections. This would likely push global M2 well over $120T this period.
In other words, for Bitcoin (BTC) to hit over $100,000, the money supply must continually expand.
At the time of press, Bitcoin (BTC) traded for $59,182.08.
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