Bitcoin’s price reached an all-time high of $67,017 on October 20, 2021, and has only lost 8% of its value since then. In a blog post titled “Charting Bitcoin’s Next Five Years,” cryptocurrency currency researcher Justin Bennett shared his thoughts on the future of Bitcoin.
Bitcoin market fundamentals are discussed by a Cryptocademy analyst, who also predicts the end of the cycle. Many analysts believe Bitcoin will experience the same surge as it did in 2013.
Previous evidence, according to Bennett, reveals that each bear market was less unpleasant than the one before it. He stated that Bitcoin, the most popular crypto asset, is maturing into a “Maturing Market.”
In a blog article titled “Chatting Bitcoin’s Next Five Years,” which he released last week, he stated that:
“Assuming bitcoin reaches $200,000+ this cycle and then pulls down between 75 and 80 percent during the next bear market, the next cycle bottom would be approximately $50,000.” That makes complete sense. $50,000 is a psychological amount, and it’s quite close to the $65,000 high from a few months ago.”
Bennett’s prediction is based on Will Clemente’s Bitcoin price money. Many analysts, investors, and advocates of the world’s most popular cryptocurrency are inventing prices based on their own research; some even claim that the price of one Bitcoin will soon be comparable to one million dollars.