{"id":603375,"date":"2024-04-16T03:00:08","date_gmt":"2024-04-16T03:00:08","guid":{"rendered":"https:\/\/ktsl888.com\/?p=603375"},"modified":"2024-06-11T07:02:57","modified_gmt":"2024-06-11T07:02:57","slug":"bitcoin-bull-run-650000-bulls-take-charge","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-bull-run-650000-bulls-take-charge\/","title":{"rendered":"Bitcoin Readying For A 12-Year Bull Run To $650,000 If Bulls Take Charge: Analyst"},"content":{"rendered":"<p><span data-preserver-spaces=\"true\">Even with Bitcoin prices facing pressure from sellers, Willy Woo, an on-chain analyst, <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/twitter.com\/woonomic\/status\/38438754\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">thinks<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0the coin will reach new highs thanks to the launch of new Bitcoin exchange-traded funds (ETFs). In a post on X, Woo said the coin could soar to as high as $91,000 in a bear bottom but soar to as high as $650,000 in a bull market top. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">However, Bitcoin will only soar to these mega valuations, assuming that leading asset managers will fully deploy their recommended allocations to the world&#8217;s most valuable crypto asset.<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">Bitcoin In A Wide Range<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">At spot rates, Bitcoin looks shaky. Even after the surge to all-time highs of over $73,000 in mid-March 2024, the coin has been under pressure. So far, prices are within a range. There are caps at $73,800, or an all-time high, on the upper end and around $61,000 on the lower end of its current range.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/shiba-inu\/shiba-inu-insider-top-5-shibarium-investment-rules\/\" target=\"_blank\" rel=\"noopener \">Shiba Inu Insider Reveals Top 5 Shibarium Investment Rules<\/a><\/div>\n<p><span data-preserver-spaces=\"true\">As long as prices are inside this zone, the uptrend remains. This preview considers the formation established in the better part of Q1 2024 after the first spot of Bitcoin ETFs in the United States was approved.<\/span><\/p>\n<figure style=\"width: 1787px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/www.tradingview.com\/x\/DkSnj6Hm\/\" rel=\"nofollow\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full\" src=\"https:\/\/www.tradingview.com\/x\/DkSnj6Hm\/\" alt=\"Bitcoin price trending upward on the daily chart | Source: BTCUSDT on Binance, TradingView\" width=\"1787\" height=\"904\"><\/a><figcaption class=\"wp-caption-text\">Bitcoin price trending upward on the daily chart | Source: <a href=\"https:\/\/www.tradingview.com\/x\/DkSnj6Hm\/\" target=\"_blank\" rel=\"noopener nofollow\">BTCUSDT on Binance, TradingView<\/a><\/figcaption><\/figure>\n<p><span data-preserver-spaces=\"true\">In the post on X, the analyst should note that the rise to $91,000 and $650,000 are long-term targets and not for the current market cycle. Most importantly, Woo added, it will depend on how fast and aggressively asset managers like BlackRock add BTC to their diversified portfolios.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\"> Even so, this projection excludes inflows from non-custodial wallets. Capital flows from these wallets are projected to be higher due to rising crypto adoption.<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">Here&#8217;s How BTC Will Soar In The Coming Years<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">In Woo&#8217;s assessment, asset managers manage around $100 trillion globally. If they decide to invest 2% of their holdings in Bitcoin as <a href=\"https:\/\/ktsl888.com\/bitcoin-news\/bitcoin-etfs-experience-day-12-reversal-gbtc-selling-slows-fidelity-and-blackrock-garner-400-million\/\" target=\"_blank\" rel=\"noopener \">Fidelity<\/a> recommends, the asset could receive around $2 trillion. Additionally, considering the coin&#8217;s value, based on on-chain movement, worth around $561 billion, the total investment would reach $2.56 trillion.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Using the Market Value to Realized Value (MVRV) ratio, Woo said BTC could soar to a market high of $650,000 in a bull cycle. The MVRV is a metric that compares market capitalization to on-chain investment. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Conversely, BTC could reach a swing low of $91,000 if the crypto market crushes. The MVRV ratio is typically 5X in bull market tops and 0.7X in bear market bottoms.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/altcoin\/toncoin-defies-market-turmoil-surges-25-to-tally-all-time-high-details\/\" target=\"_blank\" rel=\"noopener \">Toncoin Defies Market Turmoil, Surges 25% To Tally All-Time High \u2013 Details<\/a><\/div>\n<p><span data-preserver-spaces=\"true\">Woo thinks Bitcoin, like gold, is ready for a 12-year bull run. Even so, adoption and emerging regulations in Europe and Asia will shape the path to $91,000 and $650,000.<\/span><\/p>\n<div class=\"disclaimer-shortcode\">Feature image from Canva, chart from TradingView<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Even with Bitcoin prices facing pressure from sellers, Willy Woo, an on-chain analyst, thinks\u00a0the coin will reach new highs thanks to the launch of new Bitcoin exchange-traded funds (ETFs). In a post on X, Woo said the coin could soar to as high as $91,000 in a bear bottom but soar to as high as $650,000 in a bull market top. However, Bitcoin will only soar to these mega valuations, assuming that leading asset managers will fully deploy their recommended allocations to the world&#8217;s most valuable crypto asset. Bitcoin In A Wide Range At spot rates, Bitcoin looks shaky. Even after the surge to all-time highs of over $73,000 in mid-March 2024, the coin has been under pressure. So far, prices are within a range. There are caps at $73,800, or an all-time high, on the upper end and around $61,000 on the lower end of its current range.\u00a0 Related Reading: Shiba Inu Insider Reveals Top 5 Shibarium Investment Rules As long as prices are inside this zone, the uptrend remains. This preview considers the formation established in the better part of Q1 2024 after the first spot of Bitcoin ETFs in the United States was approved. In the post on X, the analyst should note that the rise to $91,000 and $650,000 are long-term targets and not for the current market cycle. Most importantly, Woo added, it will depend on how fast and aggressively asset managers like BlackRock add BTC to their diversified portfolios. Even so, this projection excludes inflows from non-custodial wallets. Capital flows from these wallets are projected to be higher due to rising crypto adoption. Here&#8217;s How BTC Will Soar In The Coming Years In Woo&#8217;s assessment, asset managers manage around $100 trillion globally. If they decide to invest 2% of their holdings in Bitcoin as Fidelity recommends, the asset could receive around $2 trillion. Additionally, considering the coin&#8217;s value, based on on-chain movement, worth around $561 billion, the total investment would reach $2.56 trillion. Using the Market Value to Realized Value (MVRV) ratio, Woo said BTC could soar to a market high of $650,000 in a bull cycle. The MVRV is a metric that compares market capitalization to on-chain investment. Conversely, BTC could reach a swing low of $91,000 if the crypto market crushes. The MVRV ratio is typically 5X in bull market tops and 0.7X in bear market bottoms. Related Reading: Toncoin Defies Market Turmoil, Surges 25% To Tally All-Time High \u2013 Details Woo thinks Bitcoin, like gold, is ready for a 12-year bull run. Even so, adoption and emerging regulations in Europe and Asia will shape the path to $91,000 and $650,000. Feature image from Canva, chart from TradingView<\/p>\n","protected":false},"author":384,"featured_media":602472,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,14618,679,7720,78790,89583],"class_list":["post-603375","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-bulls","tag-bitcoin-price","tag-blackrock","tag-btcusdt","tag-spot-bitcoin-etfs"],"acf":[],"yoast_head":"\n<title>Bitcoin Readying For A 12-Year Bull Run To $650,000 If Bulls Take Charge: Analyst<\/title>\n<meta name=\"description\" content=\"Bitcoin, one analyst notes, is like gold, and possibly readying for a 12-year bull run that will take it to $650,000\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" 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His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape. His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto. The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance. His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry. Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion. Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers. DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations. Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language. Dalmas is here to help make the tech easy to understand and digestible, even for beginners. The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential. This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting. 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