How Far Will Bitcoin's Rise Go? Renowned Analysts Predict Prices

Dive into the fascinating world of Bitcoin's price dynamics with our latest article.

Get expert insights from renowned analysts like Michaël van de Poppe and Aurelien Ohayon on BTC's future trends.

Understand key factors like ETFs and halving impacting Bitcoin's value.

Predicting Bitcoin's Short-term Ceiling and Future Trends

Amidst the cryptocurrency industry's focus on the extent of Bitcoin's (BTC) price increase following its recent surge past $40,000, some renowned analysts have been predicting a possible short-term decline or stagnation.

Among them is Michaël van de Poppe, a prominent analyst who, despite previously predicting further price increases, suggested in his December 6, 2023, post that BTC's breakthrough over $40,000 could lead to a short-term peak, particularly as the introduction of a spot ETF approaches.

Currently, Bitcoin's price hovers around $44,000. Van de Poppe predicts future price movements to fluctuate within the ranges of $48,000–$50,000 and $35,000–$38,000.

In his latest post on December 7, he mentioned, "Bitcoin is likely to hit a ceiling in the coming weeks," adding, "As the market is in a bullish phase, a 20%–40% correction could present a buying opportunity."

Short-term Downturns Followed by Major Surges?

Aurelien Ohayon, a cryptocurrency analyst with over 125,000 followers on platform X, is another voice predicting a short-term downturn.

His December 6, 2023, post included a chart suggesting Bitcoin might fall after reaching close to $50,000. However, he anticipates a significant price surge thereafter, forecasting a peak of $155,000 in 2024 and $340,000 by 2025.

Key Factors in Bitcoin's Price Surge: ETFs and Halving

In the cryptocurrency industry, the major factors driving Bitcoin's price increase include the introduction of a spot Bitcoin ETF and the halving event.

While there are predictions of a short-term price drop following the approval of a spot ETF, the eventual offering of a Bitcoin spot ETF in the U.S., potentially attracting trillions of yen in assets, is expected to have a significant impact.

Coupled with the anticipated Bitcoin halving around April 2024, many are predicting record-breaking highs in the long-term price forecast.

>> More price predictions can be found here.