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Qadir AK
Qadir AK
Author
Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.
- Sep 24, 2024 11:01 UTC
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Crypto Analysts Predict Bitcoin Bull Run Toward $400K
Bitcoin has demonstrated a consistent upward trend over its history, reinforced by halving events and increasing investor confidence.
Bitcoin's growing acceptance among retail traders, institutional investors, and even nations suggests its potential as a reserve currency.
Crypto analysts predict a significant price increase for Bitcoin in the near future, driven by factors like the stock-to-flow model.
Over the years, Bitcoin (BTC) has carved out a remarkable trajectory, instilling confidence in investors eager to predict its future. The flagship cryptocurrency has consistently adhered to its four-year cycle, marked by halving events, solidifying its status in the market.
With increased trust from both retail traders and institutional investors, Bitcoin stands on the brink of becoming a reserve currency for nations worldwide. Notably, Bitcoin’s price performance has outpaced gold over time, despite gold’s recent bullish breakout.
Experts foresee a future where Bitcoin could facilitate the settlement of global national debts, which have ballooned to over $300 trillion.
A Bull Phase is Coming!
According to a popular crypto analyst Ali Martinez, Bitcoin price is on the cusp of entering the next bullish phase that will yield a parabolic rally to the peak. The crypto analyst expects Bitcoin price to reach a cycle high of about $400k in this cycle based on the long-term power law, which has successfully predicted previous cycles.
A similar narrative has been developed by PlanB’s stock-to-flow (S2F) model, which suggests that a major bull run is on the horizon. According to PlanB, the largest gains of Bitcoin will be registered in the next few months, which will once again prove that the flagship coin is not a pyramid scheme but a mathematical success.
Market Picture
The cryptocurrency market, led by Bitcoin, will attract more liquidity in the coming months amid the ongoing global economic shift. Already four major global economies – led by the United States, Canada, the European Union, and China -have all initiated interest rate cuts to stimulate their respective markets.
Meanwhile, the ongoing de-dollarization fueled by the rising dominance of the BRICS movement has significantly helped in the mainstream adoption of Bitcoin as a reserve currency. The success of MicroStrategy and El Salvador in its Bitcoin strategy has influenced other companies and countries led by Bhutan.
The next chapter of Bitcoin’s story is just beginning. Will you be part of it?
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