Crypto analyst Jamie Coutts predicts that Bitcoin could surge 200% to reach $100,000 by 2024 if specific financial conditions are met. According to Coutts, central banks capitulating and increasing liquidity could drive this price increase.
Coutts noted that the Global Liquidity Momentum Model (MSI) has signaled a bullish regime for Bitcoin, similar to conditions that previously led to significant gains. He highlighted recent substantial capital injections by the Bank of Japan and the People’s Bank of China as contributing factors.
The analyst also pointed to historical cycles where Bitcoin saw massive increases, suggesting another potential surge if the US Dollar Index drops below 101. Other analysts, including Milkybull Crypto, project even higher gains, with some forecasting Bitcoin could reach up to $190,000 by the end of 2024, based on consistent historical patterns.
At the time of writing, Bitcoin is trading at $58,548, reflecting a slight 1.71% decrease over the last 24 hours.
