Macroeconomics commentator and author Lyn Alden is expressing bullish sentiment on Bitcoin (BTC) over the coming months.
Alden says in a new interview with David Lin that in the next two years, she has a “pretty high conviction” that Bitcoin will appreciate in price.
The macro expert, however, says that over the short term, Bitcoin could experience downward movements or trade in a range.
“I think the next two years, supply is going down and probably demand being flat up which should be constructive for price.
Now it’s come very far in a short period of time… it could fall 20%, it could retest its $31,000 breakout, it could go sideways for three months in a choppy band.”
Bitcoin is trading at $37,392 at time of writing, up by around 20% from the $31,000 resistance level that it overcame late last month.
On the potential bullish catalysts for Bitcoin over the coming months, Alden says,
“In the spring of 2024, Bitcoin is having another supply halving, meaning that the number of new coins generated every 10 minutes will get cut in half. So you have a supply shock while demand is still pretty steady and the spot exchange-traded fund (ETF) could potentially drive more demand if you get the blessing of BlackRock, if you get these just easy ways for existing trillions of dollars of certain types of locked up capital to have a liquid vehicle to go in.”
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