BTCUSD Bitcoin

A crypto analyst has predicted that Bitcoin (BTC), the world’s largest cryptocurrency could see its price surging as high as $100,000, representing a 200% increase from its current value. However, the analyst noted that this bullish projection would occur only when certain conditions are met.  Bitcoin Could Rise To $100,000 In an X (formerly Twitter) post on August 15, Jamie Coutts, the Chief crypto analyst at Real Vision shared his bullish expectations for Bitcoin in 2024. The analyst predicts that Bitcoin could experience a 200% surge, potentially reaching $100,000 before the end of the year. Related Reading: Will Bitcoin (BTC) Trade Back Above $70,000 By September? Analysts Weigh In Coutts argues that Bitcoin could see significant gains in the near future based on global financial conditions, specifically the actions of Central Banks. The crypto analyst noted that central banks are “capitulating,” and the “liquidity spigots are opening,” signaling that Bitcoin’s price is about to go much higher.  Capitulating here means that Central Banks are easing monetary policies, most likely due to economic pressures. Additionally, opening the liquidity spigots suggests that Central Banks are increasing the money supply through various measures. Coutts revealed in his post that the Global Liquidity Momentum Model (MSI) has provided a bullish regime signal for the first time since November 2023. He recalled that after witnessing this signal in 2023, Bitcoin rallied as high as 75% from November 2023 to April 2024, before the regime flipped bearish. The analyst also revealed that over the past month, The Bank of Japan (BoJ) and the People’s Bank of China (PBoC) have injected substantial capital into the system, amounting to $400 billion and $97 billion, respectively. Globally, the money base (credit) has also expanded by $1.2 trillion, facilitated by the weakening United States Dollar (USD). This decrease also indicates a possible coordination with the US Federal Reserve (FED). Drawing comparisons from previous cycles where Bitcoin rose 19X in 2017 and 6X in 2024, Coutts projects that Bitcoin could witness a 2X to 3X surge in 2024 if the US Dollar Index (DXY) drops below 101. According to TradingView, the US Dollar Index is currently 102.175. A decrease below 101 would likely be a result of continued Central Bank injections that could potentially increase the global money supply (M2) above $120 trillion this cycle.  Coutts concluded his Bitcoin bull forecast by noting that in a credit-based fractional reserve banking system, the money supply must continually flow and expand to support the outstanding debt. If it does not, the entire financial system could collapse.  Massive BTC Rally Incoming In a more recent X post, a crypto analyst identified as ‘Milkybull Crypto,” shared his highly optimistic projections for Bitcoin. Sharing a price chart depicting Bitcoin’s movement from 2016 to 2025, the analyst forecasted that Bitcoin is preparing for a “face-melting parabolic that could potentially see its price surging as high as $190,000. Related Reading: Bitcoin Market Facing A Persistent Net Sell-Side Bias, Glassnode Reveals The analyst predicts that this massive surge could occur in the fourth quarter (Q4) of 2024. He suggests that this potential rally is consistent with historical market patterns, highlighting that “history has indeed prevailed.  At the time of writing, the price of Bitcoin is trading at $58,548, marking a slight decrease of 1.71% in the last 24 hours, according to CoinMarketCap. Featured image from iStock, chart from Tradingview.com