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Top Bitcoin Analysts Expect Rallies Worth 100-400% within 18 Months

Bitcoin has seen some incredibly turbulent times for 2020, leaving people wondering whether it’s time to buy Bitcoin or not. The year hasn’t even come halfway, but the world’s first cryptocurrency has seen lows of $3,700  in March, with a massive rally of just over $10,000 in May. As it stands now, BTC is trading at levels it’s only witnessed within 5% of its long history.

Many Analysts Expect Bullish Futures

This dramatic shift to such highs from such lows has been impressive in any way you look at it. In recent times, however, this success is only highlighted as mainstream media gives the currency some proper attention. This attention has been given thanks to the world itself grappling in recessions caused by the COVID-19 pandemic. Analysts are remaining bullish, however. According to multiple trusted analysts, the Bitcoin could very likely achieve all-time highs, pushing past the 20,000 mark in the years to come.

There are several analysts with this sentiment: Real Vision’s Raoul Pal, Galaxy Digital’s Mike Novogratz, as well as Pantera Capital’s Dan Morehead. All three of these names were former institutional traders that had turned into crypto bulls. Alongside these stands big names like the Winklevoss Twins, the people backing the Gemini crypto exchange. Another big name is Simon Peters, an analyst at the eToro exchange. Peters said to Bloomberg that Bitcoin would trade between $20,000 and $50,000 within the next 18 months.

The Conventional Solution

For the majority of these people, one of the key reasons why their bullish sentiment is due to the central banks and government reacting to the COVID-19 pandemic. In short, these entities have responded to the growing global pandemic in a rather unusual way: Printing out trillions of USD’s worth of money in order to keep liquidity in its markets.

The US Federal Reserve alone has pushed out more than $2 trillion in new liquidity to its balance sheet, doing so in just under two months. All the while, the US White House started signing off on trillions of USD’s worth of stimulus checks to keep its citizens afloat in these trying times.

The Opposite Solution

It’s expected that this new trend in macroeconomics will drive the value for scarce, decentralized assets to all new highs. This was the sentiment of Novogratz when he was interviewed by none other than CNN.

Novogratz explained that quantitative easing is something that continues to happen during this crisis, and all over the world, as well. In direct contrast to this, Bitcoin’s halving event has resulted in the equivalent of “quantitative tightening,” according to Novogratz. To Novogratz, this will validate the Bitcoin Era in these trying times, and seems to have gained fruit already. Paul Tudor Jones, a legend in investing, has signed up to BTC, as well.

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      A journalist, with experience in web journalism and marketing. Ali holds a master's degree in finance and enjoys writing about cryptocurrencies and fintech. Ali’s work has been published on a number of cryptocurrency publications.