Bitcoin early adopter Tuur Demeester has suggested that the leading cryptocurrency could reach $600,000 by 2026.
In ’21 bitcoin topped at $69k. I’m targeting $200-$600k by 2026. Fueled by $ trillions in global bailouts/stimulus. https://t.co/ULslIMgzee
— Tuur Demeester (@TuurDemeester) February 12, 2024
He believes the price rally will be “fueled” by government economic stimulus programs and bailouts.
Demeester also suggested that retail investors will soon “wake up.”
I expect for retail to start waking up soon. Remember, there is no fever like bitcoin fever. https://t.co/mtQY5ijwfC
— Tuur Demeester (@TuurDemeester) February 12, 2024
The expert advised market participants to “be careful with debt and potential overexposure” due to the high volatility of cryptocurrencies.
That said, keep in mind one of the most important lessons in bitcoin: be careful with debt and potential overexposure, because its volatility will easily give you whiplash. https://t.co/sxuCH5UOWy
— Tuur Demeester (@TuurDemeester) February 12, 2024
In contrast to Demeester’s optimism, X-user iL Capo of Crypto predicted a short-term price pullback from the recent $50,000 mark.
$BTC update
I was bullish short-term from $40k because there were possibilities of reaching $50k. It just got hit. Now what?
I’m expecting a rejection of $BTC from the $50k level while alts keep pumping more, forming a divergence. After that, the entire market should reverse. https://t.co/g4n1YQ819m pic.twitter.com/5JLTekUk8T
— il Capo Of Crypto (@CryptoCapo_) February 12, 2024
MN Trading founder Michaël van de Poppe also expressed doubt about an “endless” upward movement for bitcoin. However, he noted that the trend will remain intact as long as the cryptocurrency’s price stays above $46,000.
Earlier, options traders bet on a rally of digital gold to the $65,000 level in the second quarter.