CandleFocus Bitcoin (BTC) on Verge of Parabolic Bull Run: Here Are Two Major Scenarios
2024-11-22
Author: Content Editor
Prominent crypto analyst Ki Young Ju presented two possible scenarios for the price movement of Bitcoin. According to Ju, if the price follows the 2017 pattern, Bitcoin could reach an all-time high of $1.15 million, representing a 1,050% increase from the current price. Alternatively, if the price follows the 2020 pattern, the next historical high would be $262,000 per BTC, a 160% increase from the current level. Ju views these scenarios as a parabolic bull run for Bitcoin, with the projected market capitalization ranging from $5.18 trillion to $22.76 trillion. These scenarios would make BTC one of the most expensive assets, potentially surpassing gold in market capitalization. The article raises questions about the realism of this projected growth and the impact of external economic factors or black swan events on Bitcoin's trajectory.
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