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You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/analyst-predicts-bitcoin-to-hit-100000-by-next-year/" data-wpel-link="internal">Analyst Predicts Bitcoin to Hit $100,000 by Next Year</a> 
Blockchain analyst Jamie Coutts has suggested that a certain on-chain indicator implies that <a href="https://coin-turk.com/en-buyuk-bitcoin-elestirmeni-btc-istemeye-basladi" data-wpel-link="internal">Bitcoin</a> (<a href="https://en.coin-turk.com/current-crypto-currency-predictions-what-does-reaching-the-peak-of-1-year-mean-for-crypto-currencies/" data-wpel-link="internal">BTC</a>) should reach a minimum price target of $100,000 by next year. On social media, Jamie Coutts mentioned that he follows <a href="https://en.coin-turk.com/expert-analysis-on-bitcoins-consolidation-and-altcoin-opportunities/" data-wpel-link="internal">Bitcoin</a>‘s MVRV Z-Score. This metric aims to measure whether BTC is undervalued or overvalued by comparing its market value to its actual value. 
<h2 id="bitcoin-s-100-000-target">Bitcoin’s $100,000 Target</h2> 
According to Coutts, based on the historical cycles of the metric and the current Bitcoin price, the MVRV Z-Score needs to exceed four standard deviations above the fair value by 2025, which would mean a minimum of $100,000 for BTC. The expert stated the following: 
<blockquote> 
 The last time the MVRV Z-Score rose more than 2 standard deviations in a new cycle was in November 2020, six months after the Halving. Bitcoin is currently ahead of the previous two cycles in terms of price performance. The MVRV Z-Score exceeded 6 in the last cycle. If the cycle control continues, 4-5 standard deviations seem fair for this cycle, which means the BTC price could be $100,000 by 2025. 
</blockquote> 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-320379 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/02/btc-11.jpg" alt="" width="2189" height="1155"> 
<h2 id="comments-from-a-former-bloomberg-analyst">Comments from a Former Bloomberg Analyst</h2> 
Jamie Coutts, a former Bloomberg analyst, mentioned that the 50-week simple moving average (SMA) crossing over the 200-week SMA in the ETH/BTC chart historically signals the start of a new bull market phase where capital shifts from Bitcoin to altcoins. The expert added: 
<blockquote> 
 The market regime between <a href="https://en.coin-turk.com/ethereums-bull-flag-breakout-signals-potential-uptrend/" data-wpel-link="internal">Ethereum</a> and Bitcoin is likely to be triggered in the coming days, indicating the next phase of the crypto bull market. In the first phase of the bull market, BTC performs better, and investors push the ratio to -3 standard deviations of the 200 SMA for ETH. What follows is a pullback that continues relatively unnoticed and then accelerates as those taking profits move before the halving, converting their gains into altcoins. This strategy waits for the 50/200 SMA crossover confirmation. There are only a few examples, but this is the only thing we have to work on in crypto. Intuitively mapping out its psychology makes sense. The 50/200 SMA, as in 2022, usually signals with a minor loss by crossing in the opposite direction. 
</blockquote> 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/analyst-predicts-bitcoin-to-hit-100000-by-next-year/" data-wpel-link="internal">Analyst Predicts Bitcoin to Hit $100,000 by Next Year</a></h5>

Analyst Predicts Bitcoin to Hit $100,000 by Next Year

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