Popular macro expert Lyn Alden believes that a $100,000 peak for Bitcoin (BTC) during the next market expansion would be a disappointing outcome.
In a new interview on the What Bitcoin Did podcast, Alden says the rise or fall of global liquidity is a solid indicator of Bitcoin’s cycles.
While Alden emphasizes the correlation between liquidity and BTC, she notes that the metric does not provide any indication of how high or low the price of BTC might go.
“Bitcoin is highly correlated with liquidity in terms of direction, but there is little way to price it. It’s not really helpful for size, so it’s not one of those stock-to-flow models where you can say, “Okay, on this date it should be this price.”
I think a lot of that is very difficult to judge.
Alden predicts that a “spectrum” of 2024 and 2025 will be “positive for liquidity” and positive for risky assets like Bitcoin. She then outlines a scenario in which Bitcoin will rise by approximately 340% from current prices before the end of 2025.
“My basic expectation is a new all-time high, hopefully above $100,000, so hopefully six figures. But then literally that range… that range is completely reasonable. I actually don’t dare to guess where that ends.
I think something like $100,000 or more would be a bit disappointing for a bull market cycle, especially after the previous bull market cycle also ended disappointingly.
So I’m hoping for $200,000 or more in the next two-plus years.”
At the time of writing, Bitcoin is trading at $45,595, up over 6% in the past 24 hours.
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