Key Points
- Laurent Benayoun, CEO of Acheron Trading, predicts Bitcoin’s price could potentially reach $180,000 in the current bull market cycle.
- Several other forecasts align with Benayoun’s, predicting significant price increases for Bitcoin.
The CEO of Acheron Trading, Laurent Benayoun, who is also an expert in quantitative trading strategies, suggests that the price of Bitcoin (BTC) could see a 150% increase during the current bull market cycle.
Potential Bitcoin Price Increase
Benayoun believes that a combination of factors, including the introduction of spot Bitcoin exchange-traded funds (ETFs) and the upcoming Bitcoin halving, could potentially push the price of Bitcoin to a cycle top of $180,000.
He noted that historical performance shows a decreasing multiple on the all-time high with each cycle, suggesting a potential 2x to 3x increase from previous cycles.
Furthermore, Benayoun suggests that improvements in the US’s financial policy could also contribute to Bitcoin’s price appreciation.
He mentioned that the market is pricing in a reduction in interest rates, which have been flatlining, and it is reasonable to expect them to decrease in the near future.
Other Predictions Align
Other experts’ predictions align with Benayoun’s. For instance, analysts at Bitfinex suggest a price of $120,000 by the end of 2024.
Bernstein, a wealth management giant, expects Bitcoin to reach around $150,000 following the halving by mid-2025.
More ambitious targets suggest a peak price of $337,000 for Bitcoin.
Willy Woo, a Bitcoin analyst and managing partner at CMCC Crest, stated that the current bull market is still early and equates to the last cycle’s $20,000 mark.
Additionally, Ark Invest’s Cathie Wood sees a $1 million Bitcoin price as too conservative by 2030.
She stated that their target is well above that, with new expectations for institutional involvement doubling the incremental price they assume for institutions.
On March 25, Bitcoin reclaimed the $70,000 mark for the first time in 10 days.
Currently, the price of Bitcoin is up over 6.3% on the weekly chart, trading around $70,800.