CandleFocus Is Bitcoin's Rise Real? Analyst Makes Reference to 2021, Announces New ATH Prediction!
2024-09-23
Author: Content Editor
Bitcoin reached a new all-time high (ATH) of $73,500 in March this year, driven by the approval of spot Bitcoin ETFs. However, it entered a downtrend and dropped below $50,000 during a sharp correction in August. Bitcoin subsequently recovered and has been fluctuating between $57,000 and $60,000 in September. Despite being around $10,000 below its previous ATH, expectations for a new record have increased. Analyst Luke Broyles suggests that even if Bitcoin reaches its long-term target of $100,000 by 2025, it may not be as impressive when adjusted for inflation. He claims that when adjusted for inflation, the new ATH level in 2024 corresponds to $83,000, meaning that $100,000 in 2025 would only be equivalent to 2021 prices.
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