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Breaking News: HYPE Soars Beyond $40 Following Robinhood Listing: What’s Next For Hyperliquid’s Price?
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Breaking News: HYPE Soars Beyond $40 Following Robinhood Listing: What’s Next For Hyperliquid’s Price?

Crypto Analyst Uses Historical Data To Show When The Bitcoin Price Will Reach $207,000

Scott Matherson
Scott Matherson
1 year ago
3 mins read
Bitcoin

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A crypto analyst has laid out a scenario where the Bitcoin price could rise above $200,000 by June. This is based on a historical occurrence that could play out again following BTC’s recent run above its previous all-time high (ATH).

How BTC Could Rise To $207,000 By June

The anonymous analyst behind the prominent crypto X (formerly Twitter) account, Bitcoin Archive, alluded to the 2021 bull run when Bitcoin’s price more than tripled in just 103 days after breaking the previous cycle’s ATH. That means Bitcoin could run to $207,000 by June if history repeats itself. 

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Bearing the Bitcoin Halving event in mind, Bitcoin’s price tripling by June looks feasible. Bitcoin’s price has more than tripled 90 days after previous Halving events. Considering that Bitcoin surpassed its previous ATH even before this Halving, which is set to take place in April, the flagship crypto could also achieve this exponential price surge in record time this time around. 

This narrative is supported by the fact that Bitcoin’s demand continues to exceed its supply, and the supply will be further reduced when miners’ rewards are cut in half. Therefore, although ambitious, a price surge of such magnitude cannot be ruled out. 

Moreover, crypto analyst MacronautBTC already calculated how Bitcoin’s price could rise to $237,000 based on the imbalance between supply and demand. BTC rising to $207,000 by June will no doubt defy expectations, with analysts like Skybridge Capital CEO Anthony Scaramucci not expecting such a price surge until next year. 

Scaramuci had predicted that Bitcoin would rise to $170,000 18 months after the Halving event. Meanwhile, Tom Dunleavy, Partner and Chief Investment Officer (CIO) at MV Capital, took a conservative stance when he mentioned that Bitcoin could rise to as high as $100,000 this year. 

What Next For Bitcoin?

Bitcoin has cooled off following its rise to a new ATH of $69,000. As to the next move the flagship crypto could make, crypto analyst Satoshi Flipper suggested in an X post that Bitcoin could consolidate between $65,000 and $70,00 for a few weeks before breaking its ATH again. 

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This aligns with Alex Thorn’s (Head of Research at Galaxy Digital) analysis, where he noted that BTC could follow a similar path to December 2020. Back then, BTC touched its prior ATH of $20,000, then traded 11.3% lower for the next 15 days before going on to “definitively” break its ATH.

At the time of writing, Bitcoin is trading at around $66,000, up in the last 24 hours, according to data from CoinMarketCap. 

Bitcoin price chart from Tradingview.comBTC price at $67,000 | Source: BTCUSD on Tradingview.com
Featured image from The Independent, chart from Tradingview.com
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Scott Matherson
Scott Matherson

Scott Matherson

Scott Matherson is a prominent crypto writer at NewsBTC with a knack for capturing the pulse of the market, covering pivotal shifts, technological advancements, and regulatory changes with precision. Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers.

Read more

Scott’s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott’s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life.

With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others.

Scott’s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott’s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry.

Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors.
In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else.

Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies.

Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

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