TL;DR
Analysts are optimistic about BTC potentially reaching new highs, with some forecasts suggesting it could hit $100K, but Chris Burniske warns of a potential “final wipeout” after such a peak.
While some Twitter users expect BTC to rise post-2024 due to events like the approval of BlackRock’s Bitcoin ETF or the Bitcoin halving, others, like Josh Olszewicz, predict a more conservative increase to $38,000 by the end of 2023.
On the far bullish end, Luke Broyles speculates that BTC could skyrocket to $3 million per coin, drawing parallels to the exponential growth of the early Internet.
BTC Price Surge Might Hide Risks
The cryptocurrency market revival and the substantial price increase of bitcoin (BTC) have given investors fresh hopes that a bull run toward a new all-time high might ignite in the near future. Some analysts have supported that thesis, envisioning the asset to reach or even surpass the coveted level of $100K in the following years.
The popular X (Twitter) user Chris Burniske also thinks a new ATH might be around the corner. However, he warned that after reaching the peak, BTC might endure “a final wipeout.”
Burniske thinks the asset’s current performance is similar to the one observed in the first half of 2019, when the price was heading north almost daily before plunging significantly in Q1 2020 (at the time when the global COVID-19 pandemic shocked the world).
If $BTC & $ETH rip here, and then everything else follows, we could be in for a mid-2019 repeat — going just high enough to get people to believe that maybe, just maybe, new ATHs are around the corner, before enduring a final wipeout (Q1 ‘24?) and putting in firm higher lows.
— Chris Burniske (@cburniske) November 2, 2023
Numerous X users who commented below the post disagreed with the assumption. Some predicted that BTC would shoot even higher after the first quarter of 2024 based on the potential approval of BlackRock’s spot Bitcoin ETF or the halving event.
Other Bitcoin Forecasts
Another analyst who gave their two cents on the matter in the past few days is X user Josh Olszewicz. They suggested that BTC could continue its uptrend in the remaining two months of the year and soar to $38,000 by the end of 2023.
Luke Broyles was much more bullish, assuming the asset might explode to the astonishing level of $3 million per coin based on potential growth comparable to the Internet’s early expansion.
Those willing to see the top five BTC predictions coming from prominent figures can take a look at our dedicated video below:
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