From $35,000 To $500,000? The Bitcoin Rollercoaster This Expert Sees Ahead

Samuel Edyme

1 year ago

4 mins read

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Stephan Livera, an esteemed host of his namesake podcast and Swan Bitcoin’s Head of Education, has now provided the crypto community with projections for Bitcoin’s future trajectory. This week, Bitcoin experienced a rally that took its price to as high as $35,000, marking its highest point since May 2022.

However, amid the favorable climate around a potential spot Bitcoin exchange-traded fund (ETF) approval and institutional adoption, Livera posits that this surge is merely the precursor to a much grander bull run.

The Potential Impetus: A Spot Bitcoin ETF

Approval of a spot Bitcoin ETF could be a game-changer for Bitcoin’s valuation, according to Livera. Conversing with Michelle Makori, the Lead Anchor and Editor-in-Chief at Kitco News, during the Pacific Bitcoin Festival, Livera emphasized the possible ripple effects of such an approval.

While murmurs suggest that ETF approval might be on the horizon by the close of this year, Livera diverges from this sentiment. Livera anticipates this landmark event to materialize more likely in 2024. The Head of Education at Swan Bitcoin noted:

Although many experts predict that [a spot Bitcoin ETF] will come in three to six months, I don’t believe it will happen this year. Next year is the more likely scenario … in the first or second quarter of 2024, which would coincide with the halving cycle, which is expected in April.

Notably, a significant event, such as the halving cycle, will impact Bitcoin’s market dynamics. Historically, this event – which slices the miners’ reward for new block addition to the Bitcoin blockchain by half – has spurred price shifts.

The upcoming cycle will set the block reward at 3.125 BTC. This, combined with the potential spot ETF approval, could catalyze a heightened interest and influx of investments into Bitcoin, according to Livera.

Projected Peaks And Troughs: The BTC Landscape

Livera offers a roadmap of Bitcoin’s possible pricing journey. The Swan Bitcoin’s Head of Education foresees a stabilization around the $30,000 mark shortly, with a potential escalation toward $40,000 as we approach next year’s halving event.

But the real fireworks might commence after the halving, ushering in a wild bull run. Expounding on historical trends, Livera shared:

Historically, what we’ve seen around the halving is a bit of a rise into the halving, then a bit of a selloff after. Six to 12 months out, that’s when the real crazy bull run happens, and you get 10x or 20x in the Bitcoin price at that point.

This extrapolation by Livera culminates in a noteworthy prediction for the end of 2024 – a bold ascent, perhaps reaching roughly $500,000 by 2025 or early 2026, according to the expert.

However, the climb might be coupled with a steep decline. Drawing parallels to gold, Livera posits Bitcoin could potentially mimic its valuation range. Livera added, emphasizing the volatility of the crypto domain:

It’s quite possible that Bitcoin comes close to the range of gold, and that would imply a price in the $500k range. As is a tradition in this industry, we’ll probably hit that as a blow-off top, followed by a drop of 80%. So, it might go to $500k and then crash to $100k.

Bitcoin (BTC) price chart on TradingView — Bitcoin (BTC) price is moving sideways on the 4-hour chart. Source: BTC/USDT on TradingView.com

Featured image from Unsplash, Chart from TradingView

Samuel Edyme

Meet Samuel Edyme, Nickname - HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others.

Edyme’s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis.

Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events—like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ’s arrest—has honed his keen sense of market dynamics.

When he isn’t crafting engaging crypto content, you’ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he’s catching some Z’s or scrolling through Elon Musk’s very own X platform—(oops, another screen activity, my bad…)

Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters—(don’t judge, that’s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or “kaizen,” striving to be 1% better every day. His mantras, “God knows best” and “Everything is still on track,” reflect his resilient outlook and how he lives his life.

In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He’s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck—unflappable. Edyme is like trading in your car for a jet—bold. He’s the guy who’d ask his boss for a pay cut just to prove a point—(uhhh…). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent—okay, maybe that’s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps.

Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That’s just not the way he roll. He has these favorite lyrics from NF’s “Clouds” that resonate deeply with him: “What you think's probably unfeasible, I've done already a hundredfold.”

PS—Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He’s 100% Him-alayan. Screw it, he ate the opp.

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