Tether co-founder William Quigley suggests that Bitcoin (BTC) could surge to $300,000 by the end of this bull market, based on historical patterns.
Halving Impact
Bitcoin’s upcoming halving, scheduled for April 18th, is expected to have a significant impact on its price. Quigley believes that Bitcoin is in a stronger position now than before the last halving in May 2020, due to increased derivative volume and the approval of spot BTC ETFs.
Sentiment-Driven Asset
Quigley emphasizes that Bitcoin’s demand is driven by sentiment, as it lacks a traditional company or price-earning ratio. This means that sentiment can continue to push the price higher, potentially leading to a larger bull run than previous ones.
Current Market
As of writing, Bitcoin is trading at $66,241, up nearly 4% in the past 24 hours.
