Crypto analyst Quinten François has painted an incredibly bullish picture for the future trajectory of Bitcoin. According to François, the flagship cryptocurrency is on the cusp of some exciting developments, with the potential to reach staggering heights of up to $4.5 million.
François emphasized the significance of Bitcoin’s fourth halving and how it could propel the cryptocurrency to unprecedented levels. He noted that Bitcoin is currently poised at the lower end of a growth pattern, hinting at the possibility of massive gains if historical growth rates are maintained. François speculated that Bitcoin’s value could skyrocket to anywhere between $140,000 and $4.5 million, starting from its current position of $63,000.
A Realistic Growth Trajectory
Despite the eye-catching projections, François’s chart indicates that Bitcoin’s meteoric rise to $4.5 million is unlikely to materialize in the current bull run. Instead, he suggests that Bitcoin could peak at around $1 million if history repeats itself after the first halving. Looking further ahead, François predicts that Bitcoin could reach the $4.5 million mark by 2028, assuming it follows a similar trajectory to previous halving events.
François also cautioned that if Bitcoin’s fourth halving mirrors the second or third halving, the cryptocurrency may see more subdued price movements. In such a scenario, Bitcoin could reach highs of $400,000 or $280,000, respectively. By extrapolating from the second and third halving patterns, François estimates that Bitcoin could potentially hit $1 million or $800,000 by the year 2028.
Analyst Consensus on Bitcoin’s Future
Other crypto analysts have echoed François’s optimism regarding Bitcoin’s future prospects. Ali Martinez highlighted the growing interest from retail investors, as evidenced by a surge in new Bitcoin addresses. This influx of investors could drive Bitcoin into price discovery territory and trigger a rally as more people accumulate the cryptocurrency. Similarly, Mikybull Crypto pointed to bullish technical indicators, such as an inverse head-and-shoulder pattern and a positive Moving Average Convergence/Divergence (MACD) signal, indicating that Bitcoin is poised for further gains. Additionally, the recent filling of Bitcoin’s CME gap adds to the positive sentiment surrounding the flagship cryptocurrency.
While the $4.5 million price target for Bitcoin may seem like a lofty goal, the underlying fundamentals and market dynamics suggest that the cryptocurrency is well-positioned for continued growth. As retail and institutional interest in Bitcoin continues to rise, coupled with favorable technical signals, the future outlook for Bitcoin appears bright, despite the inherent volatility of the crypto market.