The host of the popular YouTube channel InvestAnswers is laying out potential year-end price targets for Bitcoin as BTC struggles to find the bottom of its correction.
In a new video, the analyst uses global M2 money supply – which measures the amount of money flowing throughout the financial system – to forecast potential price targets for Bitcon on the premise that newly created money supply could partially flow into BTC.
[adinserter block="1"]InvestAnswers says that the most reasonable expectation is that about 0.5% of the newly created supply would flow into Bitcoin, which, according to his models, would bump the price to roughly $115,000.
“Bitcoins in circulation are 15 million, remember five million are lost and the current Bitcoin market cap is $1.637 trillion, the new Bitcoin price would go to $146,000, if one percent of this new level of assets goes into Bitcoin.
I don’t believe it’s going to be that high, I think it could more along the lines of half of one percent or a quarter of one percent. It depends on adoption, it depends on nation-state game theory. Maybe there’s a nation that’s going to be printing some of their fiat and buying Bitcoin, then you could throw this table away, it’s going to be a lot higher if that’s the case.
Because the first nation-state to print money to buy Bitcoin wins. That’s it.
So imagine if just half of one percent of the new global M2 goes into Bitcoin – [which is] reasonable, perhaps – the price would go to $115,000. That would increase the price by 37.58% – which a lot of people are groaning and saying ‘$115,000, that’s no good, I want a million dollars’ – well, that’s not the way markets work. There are still a lot of people out there predicting a half-million-dollar Bitcoin by the end of the year. I don’t believe in that. $250,000, I don’t believe in that. $120,000? Maybe, if things really kick off in game theory…
My target was always like $119,000, $120,000 for the longest time, going back to 2023. We’ll see if we get there.”
At time of writing, Bitcoin is worth $82,100.
Follow us on X, Facebook and Telegram
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any assets including cryptocurrencies, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
