The post Bitcoin Price To Hit $110K, Expert Reveals Reason Behind BTC Rally appeared on BitcoinEthereumNews.com.

Jamie Coutts, chief crypto analyst at Real Vision, predicted that the Bitcoin price could reach $110,000. He revealed what will drive the BTC rally to this price target and discussed what has triggered the market rebound so far. The flagship crypto is again targeting the $70,000 price level, which could pave the way for a new all-time high (ATH). Bitcoin Price To Hit $110,000 Coutts predicted in an X post that the Bitcoin price could rise to as high as $110,000 as the global money supply continues to reach new highs. The analyst noted that the increasing demand for the flagship crypto and its capped supply means that its price is bound to “rise when more units of fiat enter the system.” The accompanying chart he shared showed that the BTC price will reach this $110,000 price target as the global money supply hits $500 trillion. The chart also showed that the crypto would reach this target between April 2025 and July 2025. This aligns with CoinGape’s Bitcoin (BTC) price prediction for that period. Jamie Coutts noted that the correlation between the Bitcoin price and global money supply shows that tracking the liquidity cycle is crucial. He remarked that understanding these cycles provides insights into when new capital will likely enter the market and push prices higher. In line with this, the analyst claimed that the global money supply’s surge to a new ATH of $107 trillion is 80% the reason for the recent Bitcoin price rally. He added that as more fiat money floods into the economy, some of the capital will flow into “anti-debasement” assets like Bitcoin. The surge in global money flow could also explain why BTC’s open interest recently reached a new all-time high (ATH) of $20 billion. This is bullish for the crypto as it…

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Filed under: News - @ October 19, 2024 1:11 am