🚀 Crypto Analyst Who Masterfully Predicted 2021 All-Time Record High Envisions Bitcoin Roaring Past $600,000

[SaulBadman]

The Bitcoin price has rallied stupendously this week, climbing through $50,000 as renewed bullish sentiment around the steady growth of the biggest and oldest cryptocurrency continues.

Bitcoin OG and Adamant Capital founder Tuur Demeester thinks $200K or even $600K Bitcoin by 2026 isn’t out of the question.

Tuur Foresees $600,000 BTC By 2026​

The rise in Bitcoin investments at both individual and institutional levels has helped BTC register robust price appreciation. The upcoming Bitcoin halving slated for April is expected to play an important role in further boosting the price of Bitcoin. For long-time Bitcoin investor Tuur Demeester, however, macroeconomic aspects are also paramount.

“In ’21 bitcoin topped at $69k,” Tuur observed. By 2026, the market price of BTC might make a run for levels between $200,000 and $600,000. This meteoric 4-12x rally will be triggered by trillions in money from multiple bailouts and stimulus packages.

Of banks and governments. For example, US government today is already spending more on interest payments than on their military. Only way to keep going is to print an ocean of money.

— Tuur Demeester (@TuurDemeester) February 12, 2024

The injection of trillions of dollars into global economies to supply liquidity to the centralized banking system has raised questions about inflation and the devaluation of national fiat currencies. In this regard, Bitcoin is oftentimes seen as an inflation hedge and a store of value — thanks to a programmed code that halves BTC’s pace of supply expansion quadrennially — attracting retail and institutional investors who want to protect their wealth.

Why The BTC Rally Is Far From Over​

When asked when he expected BTC to reach its next multiyear peak, Tuur said “it’s hard to say. We might get bull cycle in two parts, like in 2013 — that could draw it out longer.”

The Adamant Capital Founder, who accurately called the end of the 2021 bull market two years before Bitcoin hit $69K, believes retail “awakening” will be key to the Bitcoin upsurge, not involvement by institutional investors.

“I expect for retail to start waking up soon,” he posited. “Remember, there is no fever like bitcoin fever.”

Bitcoin is now a member of the trillion-dollar club again. The apex crypto’s ascent past the $50,000 region has not only marked an impressive feat in its recovery journey but has also led to a more expansive reevaluation of its standing in the global financial landscape.

At publication time, BTC is sitting comfortably in the number 10 spot, with Meta ahead by roughly $165 billion at a value of $1.173 trillion. If BTC overtakes Meta, silver will be next up ($1.24T). After that, Bitcoin’s entry into the $2-trillion-dollar-club would be easy as pie, and the benchmark crypto would be valued at somewhere around $100K per unit. However, at a total market value of $13.6 trillion, gold signifies the Mount Everest of asset obstacles for Bitcoin to conquer.