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87 sats \ 0 replies \ @grayruby 17 Jun 2023 \ on: Bitcoin new ATH bitcoin
Every day 1BTC=1BTC or 1sat=1sat while fiat currencies continue to lose value is a new ATH for value in my book. As for USD price, probably sometime in Q3 or 4 of 2024 depending on the actions of Fed and halving hype cycle. We could see the halving get priced in early this time if it coincides with the Fed opening the liquidity spigot.
Institutional investors and "smart money" don't seem very interested in Bitcoin right now but if that sentiment were to change and they wanted to get in prior to halving (trad markets usually price 6 months into the future) we could see a big move as early as Q4 this year.
Not likely though. I think we still have more pain to come especially as the economy turns down, we have more liquidity events in trad markets and if Mt Gox distribution and US gov sells bring a shit ton of coins onto exchanges.
Sounds like a cop out but I can see either scenario playing out. One where Fed pivots late 2024 and halving gets priced in and we are pushing above 50k towards ATH by end of year but also one where Fed is slow to react as the economy moves into recession, trad markets are soft, large amount of coins are flowing to exchanges due to MT Gox or US gov and we retest the lows.
So somewhere between 15k-60k is my price prediction for this year. You're welcome, stay humble and stack sats.