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– Advertisement – A renowned crypto analyst sparked discussions in the crypto space by providing convincing reasons behind his bullish view on Bitcoin’s future performance in his latest tweet. In his recent tweet, the analyst emphasized Bitcoin’s remarkable performance during the current cycle by comparing it with previous cycles. The analyst’s projections contribute to the ongoing debates about Bitcoin’s role as a store of value and its potential to challenge traditional assets like gold. Bitcoin price could reach $500,000 with the approval of ETFs: So when might this bullish prediction come true? $500,000 Bitcoin Price Prediction A well-known crypto analyst ignited discussions in the crypto space by providing compelling reasons behind his bullish view on Bitcoin’s future performance in his latest tweet. The analyst believes that Bitcoin has the potential to reach $500,000 during this market cycle. In his recent tweet, the analyst emphasized Bitcoin’s remarkable performance during the current cycle by comparing it with previous cycles. When analyzing the peak returns from the 2015-2018 cycle and the 2018-2022 cycle, he noted that Bitcoin’s current momentum stands out. Meanwhile, the peak of the 2015-2018 cycle was 11,000%, while the peak of the 2018-2022 cycle was 2,000%. Perhaps the ETF could put an end to declining returns in this cycle. This observation indicates that Bitcoin’s performance in the current market cycle challenges historical patterns, providing a foundation for the analyst’s bullish prediction of $500,000 per Bitcoin. However, his bullish outlook implies a potential 940% increase from the current trading value of $43,150, according to the COINOTAG report. Will Bitcoin Surpass the Market Value of Gold? In a previous tweet, the analyst made another bold prediction regarding Bitcoin’s market value. He stated, “My prediction is that Bitcoin will surpass the market value of gold or come very close to it in the…

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Filed under: News - @ December 25, 2023 11:18 am