The analyst said that when Bitcoin's 2021 ATH is adjusted for inflation, its new ATH in 2024 would be $83,000.
Bitcoin (BTC), the leading cryptocurrency, set a new record earlier this year with the approval of spot Bitcoin ETFs, reaching $73,500 in March ahead of the halving event.
After recording a historic peak, BTC entered a downtrend and fell below $50,000 in a sharp correction in August.
BTC then recovered, fluctuating between $57,000 and $60,000 for most of September and not falling below $60,000 after the US Federal Reserve (FED) cut interest rates.
Still, even if Bitcoin hits its long-term target of $100,000, it may still fall short of previous cycles in terms of real value.
Analyst Luke Broyles has predicted that a new ATH of around $100,000 may not be as impressive as expected.
Comparing the current situation to Bitcoin's $69,000 ATH in 2021, he said that when adjusted for inflation, the new ATH would be equivalent to $83,000.
He asserted that the $69,000 peak in 2021 would be equivalent to $83,000 today, emphasizing:
âEven if Bitcoin hits $100,000 by 2025, inflation will increase in the next 6-18 months due to monetary expansion, and the BTC price will then be equivalent to 2021 prices.â
âThis is crazy when comparing nominal price and real price.â
â$100,000 in 2025 may be worth only $69,000 in 2021âŠâ
