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Bitcoin OG who called 2021 all-time high sees $600K BTC price by 2026 – Cointelegraph

Popular analysts predict that Bitcoin (BTC) will reach at least $200,000 in the next few years, and could even surpass $500,000.

in him Latest updates Regarding long-term BTC price trends, advisor and early Bitcoin evangelist Tour Demeester expects BTC/USD to reach ~$600,000 by 2026.

Demeester: Bitcoin will respond to a ‘trillion-dollar’ bailout

Bitcoin hit $50,000 this week amid renewed expectations of even higher levels to come.

The bullish thesis for BTC prices focuses on the cathartic effects of both the April block subsidy halving and the newly launched Spot Bitcoin Exchange Traded Fund (ETF).

The former reduces the emission of new Bitcoins, while the latter puts further pressure on the already available supply.

But for Demeester, it’s macroeconomic factors.

“Bitcoin reached $69,000 in 2021,” he summarized.

“I’m targeting $200,000 to $600,000 by 2026, driven by trillions of dollars in global relief/stimulus.”

A subsequent series of comments on X (formerly Twitter) cited systemic problems in the U.S. banking system and the government’s future obligation to provide liquidity to halt bank decline.

This reflects a process already underway, with Cointelegraph reporting that risk asset price volatility could reach March as a result.

Asked where he expected Bitcoin to peak over the next multi-year period, Demeester added that it could be anywhere after 2025.

As for mainstream concerns (which are lacking so far, even though Bitcoin is up nearly $12,000 in less than a month), he argued that $50,000 is the watershed.

“We expect retail to start waking up soon,” he wrote.

“Remember, there is no frenzy like the Bitcoin craze.”

Demeester is best known for his decade-long contributions to the Bitcoin world. Meanwhile, in 2019 and 2020, he accurately predicted that the latest all-time high for BTC price would be between $50,000 and $100,000.

Notorious trader thinks ‘the entire market’ will fall

Not everyone believes the future of Bitcoin and altcoins is bright.

Related: Best weekly closing prices since 2021 — 5 things to know about Bitcoin this week

As reported by Cointelegraph, even last month, bets were on the rise for a long-term market reversal, with the stock falling to $30,000.

Bearish voices continue to stand out. In his latest analysis shared with his Telegram subscribers, popular trader Il Capo of Crypto warned that the $50,000 level represents a different kind of tipping point.

“I was bullish from $40,000 because it could have hit $50,000 in the short term. It just took a hit. So?” he asked.

“I expect BTC to be rejected from the $50,000 level, while alt currencies continue to rise further and form a divergence. After that, the entire market should reverse.”

Annotated chart of BTC/USD. Source: Il Capo from Crypto

For most of the past year, Crypto’s Il Capo has kept his BTC price target at just $12,000.

This article does not contain investment advice or recommendations. All investment and trading moves involve risk and readers should conduct their own research when making decisions.