Key facts:
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According to the trader, Bitcoin will reach $200,000.
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SantinoCripto offers its price predictions for 6 other cryptocurrencies.
Seven days before the start of 2024, a Spanish Bitcoin (BTC) and cryptocurrency trader, known online as CentinoCrypto, published 12 market predictions. And he explained that he hopes to finalize them within the next 15 months, between now and April 2025.
Without entering arguments, the merchant he pointed out K Its first prediction is Bitcoin reaches $200,000 (American dollars). This will mark a new all-time high (ATH) for the coin. Until now, its highest peak was more than two years ago in November 2021 at USD 69,000, as the trading view chart below shows.
Although he did not specify the reasons why he predicted this new ATH for Bitcoin, he mentioned two other predictions below that could lead to such a situation. Both have to do with the entry of large institutions into the market.
One is that Tech giants like Tesla, Microsoft, Apple invest in bitcoin spot exchange-traded funds (ETFs)., products that SantinoCripto expects to be approved this week. And the second is for social networks
In turn, other analysts expect Bitcoin to reach new all-time highs in the months following the half-percentage point scheduled for April-May 2024. The reason for this estimate is that the market has always reached that milestone after such an event.
As CriptoNoticias Cryptopedia explains, a halving is a halving of the issue of Bitcoin that occurs approximately every 4 years. This phenomenon reduces the supply in the market, which causes the price to rise due to higher demand.
“Influencers Will Sell BTC For $100,000”
Unlike CentinoCrypto, which projects Bitcoin’s next ATH at USD 200,000, others see it at USD 100,000. This less pretentious theory is primarily based on having a psychologically strong round figure for the market near its latest peak. And the same is about the other predictions of the Spanish merchant.
CentinoCrypto predicts that cryptocurrency influencers and analysts will sell BTC at USD 100,000, themselves shorts (below) and the entire rise is missing. And, as another projection, They expect to turn bullish again when the currency touches USD 160,000.
This topic highlights the importance that every investor should do their own research, and not operate based on external comments. That way, you’ll avoid getting into unwanted situations, sticking to an established strategy that everyone feels comfortable with. And, as with any investment, it must be done while managing the risks of potential losses.
Where will altcoin prices go?
Given the bullish trend it predicts for Bitcoin, CentinoCrypto predicts that the currency’s market dominance will drop to 40%. This prediction will mean trading speed in altcoins (cryptocurrencies other than Bitcoin), which will lead to his next prediction.
For the Spanish merchant, an altseason will form, a term used to refer to a season in which 75% of the 50 most capitalized cryptocurrencies outperformed Bitcoin. As part of this, he revealed the psychological price levels that he believes some of the major altcoins will be affected by.
Consider the value of Ether (ETH) at USD 10,000, solana (SOL) at USD 900, Quant (QNT) at USD 1,200, Avalanche (AVAX) at USD 350, Chainlink (LINK) at USD 140 and Cardano (ADA) at USD 6.
Cryptocurrency traders will show huge profits
With strong bullish expectations, CentinoCrypto suggests there will be cryptocurrency investors posting photos of sports cars and mansions. And it’s guaranteed that screenshots showing trading performance with profits of over 10 million dollars will go viral.
As a precaution, It is important to consider the display of assets on social networks”red flag“ (red flag). This may be false or misleading content with malicious intent, such as a stem (scam) or market manipulation.
According to CentinoCrypto, when the price is in the maximum zone and all indicators indicate “extremely overbought”, “normal people” will enter the market, but many will sell. That, he says, will generate a “bubble burst” and Bitcoin will return to USD 50,000 or USD 60,000.
Such is his latest prediction A market “crash” will occur and Scams of cryptocurrency. He concludes by saying that this shows that “traders lose millions of dollars and others gain by putting themselves into positions. shorts“
Regardless of whether a trader is correct in his predictions, it is important to keep in mind that markets tend to go through cycles of rises and falls in order to test support. That’s why after an uptrend visualized by a Spanish trader a price drop is expected which creates a “crypto winter”.
