There was a lot of confidence that Bitcoin (BTC) would reach $100,000 during the 2021 bull market. We now know that this did not happen, but the market is confident that it will in the next bull market. Yoni Assia, founder and CEO of eToro, also believes that Bitcoin is the… The magic barrier of $100,000 is broken. In an interview with prominent crypto expert Scott Melker, he explains his prediction.
Almost no one in the crypto world has experienced more than @yoniassia. He founded @eTorocreated colored coins and went through each cycle.
This conversation is full of history and incredible stories… and predictions for the next bull market.
– The Wolf of All Streets (@scottmelker) September 10, 2023
When will Bitcoin price rise?
Assia believes we will have a new one by the end of 2024, just over a year from now All-time high can be expected for the Bitcoin price.
“There will be significant price increases at the end of 2024. We will see a gradual increase in price to $50,000, back to $40,000 and then to $70,000. Only when we reach the old all-time high sometime at the end of next year will private investors return.”
The CEO of eToro is mainly guided by Bitcoin’s historical halving cycle in making this prediction. Based on this cycle, Bitcoin price has a four-year price cycle. Assia doesn’t expect this time to be any different.
“Theoretically, the bull market should happen in 2025. This was also the case in 2021, 2017 and 2013. That’s the cycle. However, there is a famous saying: “History doesn’t repeat itself, but it rhymes.” So I would be surprised if we don’t see prices rise in 2025. I would also be surprised if we don’t see $100,000 worth of Bitcoin by the end of 2025.”
CryptoCon’s BTC Theory
A few days ago we also looked at an interesting Bitcoin model from CryptoCon, a well-known crypto analyst on Twitter. His theory is quite similar to Assia’s. CryptoCon believes we should focus on November 2024. At this point, he believes that BTC price will break through the current all-time high of $69,000. He also expects the actual fireworks display to begin in 2025.