Crypto Expert Predicts Bitcoin Will Reach a Six-Figure Price Target in the Next 12 Months
In a recent conversation, Peter Dunworth, the founder of The Bitcoin Adviser, shared some intriguing insights about the future of Bitcoin. He expressed optimism, especially with the upcoming Bitcoin halving and other factors that could potentially drive the market upwards.
During an episode of The Why Bitcoin Show with Dale Warburton podcast, Dunworth addressed the question of whether the Bitcoin halving has already been factored into market prices. While he acknowledged that it should technically be accounted for, he believes there are other considerations that could impact Bitcoin’s price in the coming year.
Dunworth emphasized the potential approval of Bitcoin exchange-traded funds (ETFs) within the next 12 months. He estimated that this approval could lead to a significant influx of capital, ranging from $50 to $200 billion, flowing into Bitcoin. In addition, Dunworth mentioned the upcoming halving, the U.S. election year, ongoing quantitative easing, and fluctuating interest rates as factors that could contribute to a bullish market.
He stated, “There are numerous factors on the horizon in the next 12 months that make me optimistic. This is what concerns me the most because when I analyze it, I see this as one of, if not the best, trading opportunities in the next year. What are we looking at? Well, we’re looking at ETF approval in the next 12 months, which will unlock a minimum of $50 to $200 billion in capital flowing into Bitcoin.”
Dunworth encouraged individuals to embrace some risk and seize the opportunity presented by Bitcoin. He believes that now is an opportune time to make smart long-term investments. The conversation also touched on potential challenges, such as delays in ETF approval or unexpected regulatory actions. They also discussed the impact of the halving on miners, the individuals responsible for generating new Bitcoins.
Looking ahead, Dunworth speculated that by December 2024, Bitcoin could be valued between $125,000 to $150,000. However, he acknowledged that things could become even more unpredictable in 2025.
Tags: Bitcoin