Bitcoin may reach $ 600,000 in April

Amid bitcoin’s BTC $58,634.83 Bitcoin -2.51% Market capitalization $1.16 trillion VOL. 24 hours $2.96 billion rise above $ 50,000, Adamant Capital founder Tuur Demestre suggested that by 2026, the market’s flagship could reach colossal levels: from $ 200,000 to $ 600,000.

According to Demestre, this rapid rally of bitcoin will be «fueled» by government incentives. The analyst’s forecast depends on macroeconomic factors, in particular, inflation and the weakening of paper currencies, which makes bitcoin a safe haven for investors.

«In 2021, bitcoin reached $ 69,000. By 2026, the market price of BTC could reach $ 200,000-$ 600,000. This will be facilitated by printing trillions of dollars worth of money,» the crypto enthusiast wrote in X.

The founder of Adamant Capital believes that unlike 2021, when the growth of bitcoin was influenced by large companies, the upcoming bull rally will be driven by retail investors who realize the potential of bitcoin. Demester expects retailers to start waking up soon.

The April halving, which will reduce the number of newly mined BTC by 50%, may also become a catalyst for bitcoin growth. The development of the Lightning Network and the growth of DeFi applications based on Bitcoin can also affect the growth of the coin. However, in order to reach $ 600,000, Bitcoin will have to overcome such obstacles as uncertainty in industry regulation and competition from other cryptocurrencies that consume less electricity to mine.

It should be added that Anthony Scaramucci, the founder of Skybridge Capital, is also confident in the good prospects of bitcoin. Despite the fact that bitcoin has recently crossed the $ 50,000 mark, Scaramucci is convinced that it is not too late to refuse to buy the first cryptocurrency.