💥😱Bitcoin Price Could Reach $200,000 During the Next Crypto 'Super Cycle'

A leading market analyst points to underlying market factors that are combining to trigger an upcoming crypto “supercycle” that could push the price of bitcoin to an all-time high of $200,000.

Perspective: Pointing to a recent statement of the influential crypto trader, he avoided the “Crypto Joke” from the YouTube show "Altcoin Daily" in the video above, Austin and Aaron Arnold from reetcrypto explained why investors are increasingly optimistic about an upcoming increase in the price of bitcoin.

“I don't want to make any price predictions, but it's not impossible for me that we can make 3x over the previous high (bitcoin price),” Neuner said. “This is a unique cycle because it is the first cycle in the world in which three things align: First, we have a supply shock. Secondly, the increase in demand ... And finally, you are at the beginning of a new global liquidity cycle, in which global liquidity is starting to increase.”

Neuner cited the possibility of spot bitcoin exchange-traded fund (ETF) approval as a factor that will increase demand, and the halving of the upcoming bitcoin reward set for April 2024 as a factor that will cause a shock in supply. As the next cycle begins to take shape, Neuner explained why such a dramatic price increase may not be very optimistic.

"If you think about $200,000 per coin, you're talking about a market value of $4 trillion, which makes it only 25% of the market value of gold," he added. “This is nothing, with an (exchange-traded fund) ETF and everything else, this is nothing.”

"If it's going to be a super cycle, then $200,000 is definitely on the table," he said. "BlackRock and bitcoin ETFs, potential demand shock. The halving, that's the potential supply shock.”

He also added more details to the comparison between bitcoin and gold, pointing to the price results when a gold etf first entered the market in Dec 2004.

#BTC #binance #cryptoahmet