Bitcoin Could Reach The $600,000 Level By 2026.

Tuur Demeester suggested that in the coming years, there could be global bank failures, which could propel Bitcoin's price to seven figures.

According to a popular analyst, Bitcoin is expected to reach at least $200,000 in the coming years.

In his latest update on the long-term BTC price forecast, Demeester expressed that the BTC/USD pair could rise to $600,000 by 2026.

Demeester noted that Bitcoin's reaching $50,000 this week has reignited confidence in higher levels.

BTC price predictions continue to rise based on both the block reward halving in April and the introduction of new spot Bitcoin exchange-traded funds (ETFs).

While the block halving reduces new Bitcoin supply, ETFs exert additional pressure on existing supply.

However, for Demeester, the most crucial factor remains macroeconomic conditions:

"In 2021, Bitcoin peaked at $69,000."

"I have a price target of $200,000 to $600,000 by 2026. Bitcoin will be fueled by trillions of dollars in global rescue/stimulus packages."

Hi Tuur, bailouts of what?

— Will Beaumont (@WillBeaumontt) February 12, 2024

In his subsequent posts, Demeester referred to chronic issues in the US banking system and the necessity for governments to provide liquidity to prevent future bankruptcies.

This reflects an ongoing process. As previously reported by Cointelegraph, this situation could lead to fluctuations in the prices of risky assets in March.

When asked where the next peak of Bitcoin would be, Demeester stated that any level is possible from 2025 onwards.

Despite Bitcoin's rise of approximately $12,000 in the past month, Demeester noted the lack of mainstream interest and argued that $50,000 represents a milestone:

"I expect individual investors to start waking up soon."

"Remember, there is no fire like the fire of Bitcoin."

Demeester is known for his contributions to the Bitcoin world over the past decade. In 2019 and 2020, he accurately predicted the all-time high price of BTC, ranging from $50,000 to $100,000.

However, not everyone believes in a bright future for Bitcoin and altcoins.

As reported by Cointelegraph, there is a possibility of a market reversal in the long term, including a drop to $30,000.

Popular trader Il Capo of Crypto warned in his recent analysis that the $50,000 level represents a different kind of turning point.

Il Capo of Crypto expected a short-term rise after the $40,000 level as there was a likelihood of reaching $50,000. However, questioning what would happen next, he anticipated Bitcoin to be rejected at the $50,000 level and subsequently expected a reversal of the entire market.

For much of last year, Il Capo of Crypto had set a price target of $12,000 for BTC.