Analyst says $100,000 Bitcoin by next year

The president of macroeconomic research firm Lamoureux & Co., Yves Lamoureux, who has made some prescient predictions on crypto (not to mention equities). He said the so-called winter for bitcoin BTCUSD is over for now, with a forecast for the No. 1 cryptocurrency to reach $100,000 by later 2023, in a run higher that could last up to 2025. “I’m not giving a major buy signal, I’m just saying, yes, you can start to buy a little bit,” Lamoureux told MarketWatch in a recent interview. Hovering at $30,000 and off more than 55% from a record high of $68,990 in November 2021, bitcoin meets much of his critiera to exit a bear market, he said.

“But the crux of his call is based on an eclipse-like event expected in 2024 (he predicts around March), when rewards for bitcoin miners will be chopped in half. The so-called halving event occurs every four years and is aimed at controlling the number of coins in circulation and support prices. The last one was May 11, 2020. Lamoureux is only interested in bitcoin, and doesn’t “trust any of these stablecoin projects.”

“I’m interested in Bitcoin because it is the king and that’s where institutional money will flow first. So always stick with the best. Everybody wants to be bitcoin, but they’re not …don’t make it complicated, stick with bitcoin”.

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