 ▲ Bitcoin bull market © Coin Leaders |
There has been a prediction that the price of Bitcoin (BTC) could double this year.
According to UToday, a media outlet specializing in cryptocurrency, famous Bitcoin maximalist Fred Krueger said that the price of Bitcoin is likely to double by the end of the year.
According to CoinMarketCap, as of 9:56 am on July 2 (Korean time), the price of 1 Bitcoin was $62,875.
According to Youngjoo Ki, founder and CEO of CryptoQuant, Bitcoin is still in a bull market, and Galaxy Digital's Mike Novogratz predicted that the price of Bitcoin could exceed $100,000 this year. But he added that he needed to recover $73,000 first.
Tom Lee, founder of Fundstrat Global Advisors, a market research firm on Wall Street, maintained his previous forecast that the BTC price could reach $150,000 by the end of this year in an interview with CNBC on the 1st.
He emphasized, “It is important to remember that BTC price increases usually occur over a period of only a few days. Excluding the 10 days with the highest price increase, BTC annual returns are negative.”
Meanwhile, Cointelegraph cited CryptoQuant data and said, "Bitcoin's hash rate recently fell 7.6% from its peak. This is the largest decline since December 2022, suggesting a market bottom. In addition, the outlook for a market bottom is forecasted by Bitcoin miners. “It is also showing up in indicators such as position index (MPI), exchange balance, and miner balance,” he said, predicting a future BTC bull market.
