Cryptocurrency Market Leader Could Smash Price Record If History Repeats Itself”
Leading account “Bitcoin Archive,” dedicated to all things BTC including its price, has released price predictions for BTC that echo the optimistic expectations of Bitcoin Max Keiser.
“Bitcoin Archive” presented a specific rationale for their belief in a substantial opportunity for the leading cryptocurrency to reach an astounding $220,000 and surge further over the next 18 months. This is illustrated by the significant rise in BTC prices following each of the three halving events experienced by the crypto community thus far. After the first halving, it surged a staggering 94-fold to reach $800, and then increased 30-fold after the second halving to reach $11,000. Following the previous, third halving, Bitcoin’s price skyrocketed sixfold to reach $69,000.
If this surge repeats and the price increases sixfold once again, Bitcoin could surpass the $220,000 price level, as stated by the Bitcoin-dedicated account. However, many experts believe that Bitcoin has already reached its all-time high of $69,000, largely due to the unstoppable money-printing by the US government that commenced in 2020 to support the American economy in combating the pandemic.
READ also "Top Analysts and Traders Expect Bitcoin to Rebound in a V-Shaped Recovery, History Repeating Itself Required"
Currently, Bitcoin is trading at $36,414 according to data provided by CoinMarketCap. A sixfold increase from here would propel BTC to $218,484 per coin.
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