Crypto Market Outlook
In his analysis, Rietveld anticipates Bitcoin could soar to $100,000 or even higher, potentially triggering a substantial influx of liquidity into altcoins like XRP. A significant factor influencing this bullish outlook for the leading cryptocurrency is the ongoing “money printing” in the U.S. economy.
The analyst pointed out that historical halving cycles indicate an increased money supply often coincides with major market recoveries. He referenced historical data showing that during periods of extensive money printing, Bitcoin’s price has surged dramatically, with similar expectations this time around.
Rietveld recalled that in February 2020, as the Fed initiated extensive money printing, Bitcoin’s price initially dropped to around $5,000 before skyrocketing to $60,000 the following year. This trend was also mirrored by altcoins, with Solana experiencing an extraordinary 100x increase during the same cycle.
However, Rietveld cautions that the initial phase of liquidity injection can lead to volatility. He advises investors to prepare for potential price corrections akin to those witnessed in previous cycles. For instance, after Bitcoin hit $60,000 in April 2021, it plummeted to about $32,000 three months later before rallying to an all-time high.
Rietveld speculates that the market might see a similar 50% drop in Bitcoin before gearing up for another rally to fresh all-time highs.
XRP Prediction: Crazy Days Are Coming
When focusing on XRP, Rietveld suggests that while Bitcoin may experience significant fluctuations, XRP could demonstrate relative stability. He encourages investors to dollar-cost average into XRP during this period, noting that it often outperforms Bitcoin on many trading days.
Rietveld anticipates that mid-2025 could mark the peak of this cycle, with Bitcoin potentially surpassing the $100,000 mark. For now, he recommends that investors stay vigilant, keep cash ready to buy dips, and consider leveraging opportunities in XRP as the market prepares for explosive growth.
At press time, XRP is valued at $0.5898, reflecting a 3% gain over the past week.
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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to conduct thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
