CandleFocus There’s a 60% Chance Bitcoin Hits $170,000 This Cycle, According to Analyst Jamie Coutts – Here’s the Timeline
2024-10-26
Author: Content Editor
Real Vision's chief crypto analyst Jamie Coutts predicts that Bitcoin could surge over 155% from its current levels during this market cycle. Coutts suggests that Bitcoin could reach six-figure territory as the global money supply increases. His base case scenario is a price of around $100,000, but he also offers more optimistic scenarios with potential prices ranging up to $234,000 or even higher. However, Coutts believes that a parabolic rise to $500,000 is unlikely in this cycle and sees it as a future possibility. The analyst assigns probabilities to each price level, with Bitcoin having a 15% chance of hitting $100,000 by mid-August 2025 and a 5% chance of reaching $500,000. Bitcoin is currently trading at $66,633.
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