An early Bitcoin follower, Tour Demester, suggested that the first cryptocurrency will reach $600,000 by 2026.
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In ’21 bitcoin topped at $69k. I’m targeting $200-$600k by 2026. Fueled by $ trillions in global bailouts/stimulus. https://t.co/ULslIMgzee
— Tuur Demeester (@TuurDemeester) February 12, 2024
In his opinion, the price rally will be “fueled” by government programs to stimulate the economy and bailouts.
Demester also suggested that retail investors will soon begin to “wake up”.
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I expect for retail to start waking up soon. Remember, there is no fever like bitcoin fever. https://t.co/mtQY5ijwfC
— Tuur Demeester (@TuurDemeester) February 12, 2024
The expert advised market participants to “be careful with debt and excessive risk exposure” due to the high volatility of cryptocurrencies.
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That said, keep in mind one of the most important lessons in bitcoin: be careful with debt and potential overexposure, because its volatility will easily give you whiplash. https://t.co/sxuCH5UOWy
— Tuur Demeester (@TuurDemeester) February 12, 2024
In contrast to Demester’s optimism, X-user iL Capo of Crypto, in the context of short-term prospects, predicted a rollback of the Bitcoin price from the $50,000 level reached the day before.
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$BTC update
I was bullish short-term from $40k because there were possibilities of reaching $50k. It just got hit. Now what?
I’m expecting a rejection of $BTC from the $50k level while alts keep pumping more, forming a divergence. After that, the entire market should reverse. pic.twitter.com/5JLTekUk8T
— il Capo Of Crypto (@CryptoCapo_) February 12, 2024
Founder of MN Trading Michael van de Poppe also doubted in the “endless” upward movement of Bitcoin. However, according to him, the trend will not break as long as the price of the cryptocurrency is above $46,000.
To recap, options traders bet on digital gold rallying toward $65,000 in the second quarter.
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2024-02-13 18:17:53
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