A Crypto Strategist Outlines Bitcoin’s Path to $83,000
A well-known crypto strategist has provided a roadmap for Bitcoin’s long-term target of $83,000. According to the analyst, Bitcoin could rally close to $50,000 by next month. However, a significant correction down to the $30,000 level is expected as Bitcoin approaches its halving in April 2024. The halving event reduces miners’ rewards by half.
After the halving, the strategist predicts that Bitcoin will continue its upward trend and reach a new all-time high of $83,000 by 2025. The projected timeline includes a pullback to the mid/low $30,000 range in mid-January, followed by a rally post-halving. The peak-high price is expected in early/mid 2025, and the bull market is anticipated to end in Q3 2025.
Ethereum’s Upside Target of $2,500
The strategist also shared insights on Ethereum’s price movement. He believes that Ethereum, the leading altcoin and smart contract platform, will gradually gain strength over time. The analyst has set an upside target of $2,500 for Ethereum. However, he expressed some reservations about weekend price surges.
Hot Take: Bitcoin and Ethereum’s Future Trajectories
According to the crypto strategist, Bitcoin has the potential to hit $83,000 by 2025 after experiencing short-term fluctuations and corrections. Meanwhile, Ethereum is expected to climb towards $2,500 with its gradual growth. These predictions provide an optimistic outlook for both cryptocurrencies and indicate potential opportunities for investors.
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