The Bitcoin(BTC) Price ‘rocket speed’ May Not Come Until 2024
According to many information, Bitcoin’s upcoming 10X to 15X price surge is predicted to happen in two-three years. However, analyst CEO of Factor LLC - Peter l. Brandt is not clear about this forecasting. As reporting, bitcoin should not surge up for two to three more years. In regard, Peter Brandt, doing the price prediction based on data of Bitcoin. According to Brandt, it looks like people who own BTC will have to wait until 2024 for their next moonshot.
Bitcoin Predictions for the Future Months
Analysts have been surprised by how well Bitcoin has done over the past year. Additionally, Q4 2021's blow-off peak was significantly lower than expected. In addition, as BTC/USD dropped more than 50% from its modest new all-time highs, people began discussing how the price of Bitcoin altered (ATH).
Once every four years in the past, the market experienced a significant price increase. This occurred following each instance of the block subsidy division in Bitcoin. The prices of today, however, are more challenging to predict for a variety of reasons. This does not, however, mean that bulls will have their break at a later point in the current cycle.
based on Brandt's statistical findings. Until the block halving in May 2024, when Bitcoin prices may not rise again. However, this might still lead to a 10X to 15X price increase based on past patterns that go beyond half. In addition, it is too early to be a blow-off top by a year.
In addition, Brand pointed out that a long period has elapsed between the past two instances in which BTC increased by at least 10 times. The second phase of the "skyrocketing" started on average after 34 months.
Risk factors Linked to the Price of BTC
According to analysts, macro issues had a big role in keeping Bitcoin's price low up to the time of the fresh price explosion. Theoretically, riskier assets like stocks and bonds might be under pressure if the central bank is able to tighten its policies. However, a protracted era of high inflation and low interest rates could make Bitcoin appear unfavourable in the near future.
The status quo might change after the shock of these events wears off. Arthur Hayes, a former CEO of BitMEX, and Mike McGlone, a Bloomberg analyst, are both more optimistic about Bitcoin in the long run than in the short run.
BTC is seen as a risk-on according to some statistics. Gold, on the other hand, is a safe haven. As a result, this year will mark the first significant market test of Bitcoin as a potential refuge asset. Willy Woo made a prediction on this in February 2022. Risk-off is the initial market reaction in a time of war, followed by safe havens, as described.