Analyst predicts growth of bitcoin cryptocurrency to $ 1 million

Popular crypto analyst TechDev shared an observation about bitcoin. He noticed a similarity between the BTC chart and the Japanese stock index Nikkei 225.

TechDev published comparative charts on the X platform, where he has 465,800 followers. The analyst noted that the first half of the Nikkei 225 chart is very similar to the bitcoin chart, although these are different assets from different decades. According to him, bitcoin shows more volatility, but the overall trend remains similar.

According to TechDev’s forecast, the bitcoin rate could reach $ 1 million by 2027. After that, the analyst expects a sharp correction. As of the time of publication, bitcoin is trading at $ 60,492.

TechDev also compared the bitcoin chart to the Nasdaq index. He believes that this indicates the possibility of longer growth than many expect. At the beginning of the month, the analyst expressed optimism about the recent downturn in the cryptocurrency market. He noted that such periods of fear usually precede new growth.

TechDev recalled how quickly market sentiment has changed over the past two years. He expects the same situation to happen again this time. The analyst emphasized that the global economic cycle continues to point to growth. This may become an additional support factor for the bitcoin rate in the future.