There’s a 60% Chance Bitcoin Hits $170,000 This Cycle, According to Analyst Jamie Coutts – Here’s the Timeline

Jamie Coutts, chief crypto analyst at Actual Imaginative and prescient, says Bitcoin (BTC) may see a rise of greater than 155% from present ranges throughout this market cycle.

In an look on Raoul Pal’s The Journey Man YouTube channel, Coutts say that Bitcoin may explode into six-figure territory as the worldwide cash provide will increase.

“My base case is that if we simply have a look at world M2 (cash provide) and return to August, the place the Bitcoin cycle peaks, that infers a worth of round $100,000 for Bitcoin. I place it as a possible end result, however one with a really low chance. My proportionality forecast is $170,000.”

The crypto analyst goes on to say that there are “extra optimistic situations” through which Bitcoin may skyrocket to $234,000 and even greater.

“The query is what chance you assign to every of these potential outcomes to reach at some type of well-founded, probability-weighted projection. And as I mentioned, the $100,000 world M2 regression line appears about like my base case or worst case state of affairs. And all I’ve completed is I’ve checked out these different attainable outcomes and assigned them a chance.

I do not assume Bitcoin will go parabolic to $500,000 this cycle. I see $500,000 sooner or later, not this cycle. So the possibility may be very small. And the end result is strictly this probability-weighted market forecast of 189,000 for Bitcoin in August subsequent yr, which can give it a market cap of about $3.75 trillion.”

In accordance with Coutts, Bitcoin has a 15% probability of reaching $100,000 round mid-August 2025. Over the identical interval, Bitcoin has a 60% probability of reaching $170,335, a 20% probability of skyrocketing to $234,000, and a 5% probability of reaching $170,335. Attain $500,000.

Bitcoin is buying and selling at $66,633 on the time of writing.

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