- The world’s highest IQ record holder has predicted that Bitcoin (BTC) could hit $220k in the next 45 days and could reach $10 million in 10 years.
- Another analyst has disclosed that there is a good chance Bitcoin has been in a bearish cycle for 6 months now.
The Fear and Greed Index of Bitcoin (BTC) has currently reached the “Extreme Greed” level of 15. The asset is also “threatening” to break below its crucial support level of $90k as it falls by 5% in the last 24 hours and 14% in the last seven days.
Analysts Speak on the Next Bitcoin’s (BTC) Direction
Some analysts have suggested that Bitcoin has already reached its cycle peak and is flipping into a year-long bearish phase. However, Bernstein analysts believe that this may not be the case as it could be the “structural multi-year trend of institutional participation playing out in the market.”
Having triggered mixed reactions among experts, the current performance of Bitcoin has also caught the attention of the world’s highest IQ record holder, YoungHoon Kim, who believes there could be a massive turnaround.
According to Kim, Bitcoin is going to reach $220,000 in the next 45 days. He also pledged to use 100% of the profit to build churches across the world.
This is not the first time YoungHoon Kim has spoken about the Bitcoin price. In September, Kim predicted that Bitcoin would rise to at least 100 times in the next 10 years. Also, he highlighted that BTC would be globally adopted as an ultimate reserve asset.
Mathematically, his prediction implies that Bitcoin could trade at $10 million per coin by 2035. He also went ahead to share a picture of himself and the president of American Bitcoin, as he claimed the company would become the number one in the world by market capitalization.
Future Economy: According to my theoretical analysis, within the next 10 years, Bitcoin will increase at least 100 times and be universally adopted as the ultimate reserve asset. As a result, American Bitcoin (ABTC) will become the #1 company in the world by market capitalization.
Joining the Bitcoin discussion, Bitwise CEO Hunter Horsley pointed out that the dynamic of the market has significantly changed with the introduction of multiple Exchange Traded Funds (ETFs).
While some believe that the bull market is still in effect, Horsley argues that there is a good reason to believe that the bear market has actually been active for six months now, and it is almost reaching its end. As noted in our previous publication, Horsley earlier predicted that Bitcoin would finish the year at $250k.
Analyst Bitunix also predicted the current market situation. He pointed out that the nearest support for the asset lies in the $93,000-$95,000 range. According to him, a breakdown at this level could see Bitcoin falling to the next liquidity gap at $89,600.
As also mentioned in our earlier news story, there could be a deeper correction as signalled by on-chain data. Another analyst has predicted that Bitcoin could hit $160k by Christmas, as discussed earlier.
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