A crypto analyst predicted this Bitcoin (BTC)the price of the world’s largest cryptocurrency could rise to $100,000, marking a 200% increase from its current value. However, the analyst noticed this bullish projection would only take place if certain conditions are met.
Bitcoin could rise to $100,000
In an X (formerly Twitter) after on August 15, Jamie Coutts, the lead crypto analyst at Real Vision, shared his optimistic expectations for Bitcoin in 2024. The analyst predicts that Bitcoin could experience a 200% surgeand could potentially reach $100,000 before the end of the year.
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Coutts argues that Bitcoin could see significant gains in the near future based on global financial conditions, especially the actions of central banks. The crypto analyst noted that central banks are “capitulating” and that the “liquidity taps are opening,” indicating that Bitcoin’s price is about to go much higher.
Capitulation here means that central banks relax monetary policy, most likely as a result of economic pressure. Moreover, opening the liquidity taps suggests that central banks are doing just that increasing the money supply through various measures.
Coutts revealed in his post that the Global Liquidity Momentum Model (MSI) has issued a bullish regime signal for the first time since November 2023. He recalled that after witnessing this signal in 2023, Bitcoin rose up to 75% between November 2023 and April. 2024, before the regime turned bearish.
The analyst also revealed that The Bank of Japan (BoJ) and the People’s Bank of China (PBoC) have injected substantial capital into the system, $400 billion and $97 billion respectively. Globally, the monetary (credit) base has also expanded by $1.2 trillion, made possible by the weakening of the US dollar (USD). This decrease also indicates a possible alignment with the US Federal Reserve (FED).
Based on comparisons to previous cycles where Bitcoin rose 19x in 2017 and 6x in 2024, Coutts predicts that Bitcoin could witness a 2x to 3x increase in 2024 as the US Dollar Index (DXY) drops below 101. According to TradingView, the US Dollar Index currently stands at 102.175. A drop below 101 would likely be the result of continued central bank injections that could potentially push the global money supply (M2) above $120 trillion this cycle.
Coutts concluded his speech Bitcoin bull prediction by noting that in a credit-based fractional banking system, the money supply must continually flow and expand to support outstanding debt. If that doesn’t happen, the entire financial system could collapse.
Big BTC rally coming
In a more recent one X messagea crypto analyst identified as ‘Milkybull Crypto’, shared his very optimistic projections for Bitcoin. Sharing a price chart showing Bitcoin’s movement from 2016 to 2025, the analyst predicted that Bitcoin is preparing for a “melting parabola that could potentially see its price rise to $190,000.”
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The analyst predicts that this massive increase could occur in the fourth quarter (Q4) of 2024. He suggests that this potential rally is consistent with historical market patternsemphasizing that “history has indeed prevailed.
At the time of writing, the price of Bitcoin is trading at $58,548, which represents a slight decline of 1.71% in the past 24 hours, according to CoinMarketCap.
Featured image from iStock, chart from Tradingview.com