According to the trader, Bitcoin would reach $200,000.
SantinoCripto gives its price predictions for 6 other cryptocurrencies.
Seven days before the start of 2024, the Spanish Bitcoin (BTC) and cryptocurrency trader, known online as SantinoCripto, published twelve market predictions. And he explained that he hopes they will be completed in the next 15 months, by April 2025.
Without going into arguments, the dealer he showed The His first prediction is Bitcoin Reach $200,000 (U.S. DOLLAR). This would mark a new all-time high price (ATH) for the coin. The previous highest peak was $69,000 more than two years ago, in November 2021, as the chart below shows. TradingView.
Although he didn't mention the reasons why he predicts this new high for Bitcoin, he mentioned two other predictions below that could drive such a scenario. Both have to do with the entry of large institutions into the market.
One thing is that Tech giants like Tesla, Microsoft and Apple are investing in Bitcoin spot exchange-traded funds (ETFs), products that SantinoCripto expects to be approved this week. And the other is for the social network
Other analysts, however, expect Bitcoin to reach a new all-time high in the months following the halving scheduled for April to May 2024. The reason for this prediction is that the market has always reached this milestone after such an event.
As CriptoNoticias Cryptopedia explains, halving is the halving of Bitcoin issuance that occurs every approximately four years. This event reduces supply in the market and causes prices to rise due to greater demand.
“Influencers will sell BTC for $100,000”
Unlike SantinoCripto, which predicts Bitcoin's next ATH at $200,000, others see it at $100,000. This less pretentious theory is based primarily on the fact that it is a psychologically strong round number for the market that is nearing its recent peak. And that's what other predictions from the Spanish retailer are about.
SantinoCripto predicts that cryptocurrency influencers and analysts will sell BTC for $100,000 and position themselves with it short pants (down) and the entire rise is missing. And as another projection: Expect them to turn bullish again when the currency hits $160,000.
This topic highlights the importance of every investor conducting their own research and not acting based on external commentary. This way you avoid unwanted scenarios and commit to an established strategy that everyone feels comfortable with. And as with any investment, it's important to keep the risk of potential losses in mind.
Where will altcoin prices go?
Given the bullish trend he expects for Bitcoin, SantinoCripto predicts that the dominance of this currency in the market will fall back to 40%. This prediction would signify the dynamics of trading in altcoins (cryptocurrencies other than Bitcoin) and lead to his next prediction.
An old season will be forming for the Spanish retailer, a term that refers to a season in which 75% of the 50 most capitalized cryptocurrencies produce a higher return than Bitcoin. As part of this, he revealed the psychological price levels that he believes some major altcoins will reach.
Believe the price of Ether (ETH) will reach $10,000, Solana (SOL) $900, Quant (QNT) $1,200, Avalanche (AVAX) $350, Chainlink (LINK) $140, and Cardano (ADA) $6.
Cryptocurrency traders stand to make big profits
Given the expected strong uptrend, SantinoCripto notes that there will be cryptocurrency investors posting photos of sports cars and mansions. And he assures that screenshots showing trades with profits of more than $10 million will go viral.
As a precautionary measure It is important to view the display of wealth on social media as “red flag” (Red flag). This may be false or misleading content with dangerous intentions, such as: Fraud (fraud) or market manipulation.
According to SantinoCripto, when the price is at its peak and all indicators show “extremely overbought,” the “general public” will come into the market, but many will sell. This, he says, will lead to “the bubble bursting” and Bitcoin will return to $50,000 or $60,000.
This is his latest prediction There will be a market “crash” and Scams of cryptocurrencies. He concludes by saying that by doing this, you will see “traders lose millions of dollars and others gain them by positioning themselves.” short pants«.
Regardless of whether the trader is correct in his predictions or not, it is important to remember that markets tend to move through up and down cycles to test support. Therefore, after an upward trend, as visualized by the Spanish trader, price declines can be expected, forming a “crypto winter”.