Guy Turner, host of the popular Coin Bureau YouTube channel, predicts that Bitcoin (BTC) could reach nearly $200,000 during this market cycle.
Catalysts for Growth
Turner believes two key factors will drive BTC’s price spike:
- Halving Event: This event, expected around April 20th, will reduce miners’ rewards by half, potentially triggering a parabolic rally.
- Monetary Policy: The Federal Reserve’s continued money printing will fuel Bitcoin’s growth, as it has in previous market rallies.
Historical Analysis
Based on historical data and inflation adjustments, Turner estimates BTC’s price could reach between $120,000 and $140,000. However, factoring in the pandemic-induced inflation, he projects a potential peak of almost $200,000.
Current Market Situation
At the time of writing, Bitcoin is trading at $67,366, showing a slight increase over the past 24 hours.
