$80,000 Bitcoin Incoming Based on History, According to Coin Bureau’s Guy Turner – Here’s When It Could Happen
A popular crypto analyst predicts that Bitcoin (BTC) will reach $80,000 based on historical patterns. Guy Turner, the host of Coin Bureau, believes that BTC will hit a new all-time high in 2024, regardless of whether the US Securities and Exchange Commission (SEC) approves a spot market BTC exchange-traded fund (ETF).
Turner explains that BTC has a history of surpassing its previous all-time high about one year before its cycle peak. In 2016, BTC exceeded its 2013 cycle high of $1,000. In 2017, it reached nearly $20,000. In 2020 and 2021, BTC surpassed its previous highs. Turner suggests that 2024 will follow a similar pattern.
According to Turner’s analysis, BTC could potentially reach over $80,000 by the end of 2024. However, he considers this to be a conservative estimate. If his scenario plays out in 2024, it could set the stage for Bitcoin reaching a six-figure price in 2025.
Turner also points out that the approval of a BTC ETF does not guarantee increased investments. Currently, Bitcoin is trading at around $42,474.
Hot Take: Bitcoin Set to Reach $80,000 Based on Historical Data
A well-known crypto analyst predicts that Bitcoin will climb to $80,000 based on past trends. According to Guy Turner from Coin Bureau, BTC has consistently surpassed its previous all-time high about one year before reaching its cycle peak. By following this pattern, Turner suggests that Bitcoin will hit a new all-time high in 2024 and potentially exceed $80,000. While the approval of a BTC ETF is likely, it doesn’t guarantee increased investments. If the scenario unfolds as predicted, Bitcoin may even reach a six-figure price in 2025. Currently trading at $42,474, Bitcoin continues to show potential for significant growth.
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