June 16, 2024

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New forecasts confirm that it may reach $ 500,000 in nine months

New forecasts confirm that it may reach $ 500,000 in nine months

The specialist, who is followed by nearly half a million people on Twitter, spoke a few days ago with Argentine teacher Catalina Castro, who leads the YouTube Tech channel. There, the professional trader presented his analysis on the short and medium price of Bitcoin. term. According to him, For about another 9 months, the bullish phase of the current cycle will continue and then the market will enter a downtrend.

“Most people in the market are expecting a $200,000 or $300,000 level for the next eight or nine months,” Ronfelt said, adding, “I think we’ll see the unexpected and this could be a bearish entry. Or we will far exceed expectations. , where the price is between $500,000 and $1,000,000, so $700 is a possible scenario.”

As for the long-awaited figure of $1,000,000 per bitcoin, Carl considered it “inevitable,” although, as he says, “the question is whether or not it will happen in the next few months.” As Argentine lawyer Carlos Maslaton said in the same past weeks, Bitcoin’s movement will not be soon or in a linear fashion.

According to the lawyer’s predictions, we will have to wait until 2025 to see the price of BTC at this number. Maslatón agrees with Runefelt that in 2022, the cryptocurrency can be seen at prices close to 500 thousand US dollars.

What to expect from Bitcoin

Regarding the price of Bitcoin in the short term, Carl “Moon” considered a strong support point at $30K. In the event that the price of the crypto-asset moves below this figure, a new and extended bearish period can be entered, thereby nullifying all optimistic expectations.

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Alternatively, if Bitcoin breaks through the $49,000 resistance, the uptrend will consolidate and the above predictions will continue to apply.