‘Staggering’ $300 Billion Prediction Reveals Potential Bitcoin Price Peak After Huge Crypto And Ethereum Boom

‘Staggering’ $300 Billion Prediction Reveals Potential Bitcoin Price Peak After Huge Crypto And Ethereum Boom

Bitcoin, ethereum and other major cryptocurrencies have seen a spectacular recovery this year (though ethereum’s founder has issued a stark warning over crypto’s “next bull run”).

The bitcoin price has topped $30,000 per bitcoin for the first time since last summer while ethereum has surged to over $2,000 per ether as upgrades fuel a price boom.

Now, after a Bank of America report revealed a surprise “key driver of digital asset adoption had just crossed a major milestone,” researchers have analyzed data pointing to a huge bitcoin price prediction that could see $300 billion added to bitcoin’s market capitalization.

The bitcoin price could peak at around $45,000 next month, according to senior analyst at K33 Research, Vetle Lunde, who has analyzed data from bitcoin’s previous cycles.

“While history is far from likely to repeat in a similar fashion if the fractal were to continue—bitcoin would peak around May 20 at $45,000,” Lunde wrote in a blog post. “While no one should expect a 1:1 mirroring of the current drawdown to previous drawdowns, the resemblance to the 2018 drawdown is staggering.”

The bitcoin price crashed by 84% in 2018, dropping to lows of around $3,000 per bitcoin following its huge 2017 bull run that pushed the bitcoin price to around $20,000—up from under $1,000 at the beginning of 2017.
Following the 2018 bitcoin price crash, 2019’s rally saw the price surge back to almost $14,000 by the end of June. The 2018 and 2019 bitcoin price slump and subsequent surge is reflected in bitcoin’s 2022 crash and rally through the first few months of 2023.

However, somethink bitcoin’s slowing “momentum” could signal a rotation into ethereum and other smaller cryptocurrencies, sometimes called “altcoins.”

Learn more: Forbes

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