Year-End Bitcoin Price Targets: Insights from InvestAnswers
The host of InvestAnswers outlines potential year-end Bitcoin price targets based on projected influences from global M2 money supply. He suggests that if 0.5% of this new money flows into Bitcoin, the price could reach approximately $115,000, while maintaining skepticism against higher forecasts. He emphasizes the impact of adoption and national strategies on Bitcoin’s future value.
The host of InvestAnswers, a prominent YouTube channel, recently discussed year-end price targets for Bitcoin (BTC), particularly as it faces a downward correction. He utilized the global M2 money supply, which reflects the financial system’s liquidity, to project potential price movements, suggesting that newly created money could benefit Bitcoin’s value.
According to the analyst, if approximately 0.5% of the new money supply flows into Bitcoin, the price could reach about $115,000. He explained that the current Bitcoin market capitalization stands at $1.637 trillion, and if 1% of the new assets were allocated to Bitcoin, the price might increase to around $146,000; however, he considers this unlikely.
He further noted that actual price outcomes depend on several factors, including adoption rates and national fiscal policies. “The first nation-state to print money to buy Bitcoin wins” is a critical consideration. He believes a modest flow, perhaps 0.25% to 0.5%, may be more realistic, attributing a projected increase of 37.58% in Bitcoin’s price to this expectation. The analyst expressed skepticism about more aggressive predictions of Bitcoin reaching $250,000 or $500,000 by year’s end.
The analyst’s target has consistently been around $119,000 to $120,000, which they have maintained since the beginning of 2023. As of now, Bitcoin trades at approximately $82,100.
In conclusion, the InvestAnswers host forecasts a potential Bitcoin price target of $115,000 by year-end, contingent upon a reasonable influx of global M2 money supply into the crypto market. The analysis underscores that various factors, particularly adoption and national strategies, could significantly influence Bitcoin’s future price. Current evaluations suggest a cautious optimism regarding Bitcoin’s monetary trajectory, making this target feasible within the existing market landscape.
Original Source: dailyhodl.com
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