Key Information

The CEO of Acheron Trading, Laurent Benayoun, a skilled expert in quantitative trading strategies, anticipates a possible 150% increase in the price of Bitcoin during the ongoing bull market cycle.

Bitcoin's Projected Price Surge

Benayoun posits that with the upcoming Bitcoin halving and the introduction of spot Bitcoin exchange-traded funds (ETFs), there is a potential for Bitcoin's price to hit a high of $180,000 in this cycle. Looking at historical data, he suggests a 2x to 3x increase compared to previous cycles concerning all-time highs. In addition, improvements in the United States' financial policy might fuel Bitcoin's price growth, as a drop in interest rates is anticipated.

Consensus on Bitcoin's Future Price

Several experts share Benayoun's optimistic outlook. Bitfinex analysts foresee a price of $120,000 by the end of 2024, while Bernstein predicts a figure around $150,000 after the upcoming halving in mid-2025. More ambitious forecasts even propose a peak price of $337,000 for Bitcoin. Willy Woo, a Bitcoin analyst, believes the current bull market is just beginning, similar to the last cycle's rise to $20,000.

Cathie Wood from Ark Invest goes as far as stating that the expected $1 million Bitcoin price by 2030 is conservative. Institutional participation is projected to drive up prices significantly beyond that figure.

Bitcoin recently passed the $70,000 milestone on March 25 after a 10-day hiatus, currently trading at approximately $70,800, marking a 6.3% increase on the weekly chart.