Merlijn The Trader, a notable crypto analyst, confirmed that the recent end of quantitative tightening (QT) could lead to a significant rise in Bitcoin prices, similar to past events. He highlighted that the current conditions mirror those of 2019, which witnessed Bitcoin soaring from a low of $3,000 to a staggering $69,000.

“QUANTITATIVE TIGHTENING JUST ENDED. AGAIN. Last time QT ended in 2019, Bitcoin went from $3K to $69K. Same macro trigger. Same demand zone. Right now. Above $70K: the rally begins. Below $60K: accumulation extends. The Fed just fired the starting gun. Most people missed it.”
Translation: “Quantitative tightening has just concluded. Last time this occurred in 2019, Bitcoin experienced a leap from $3,000 to $69,000. The macroeconomic circumstances are identical now. If we surpass $70,000, the rally initiates. Falling below $60,000 prolongs accumulation. The Federal Reserve has activated the transition, but many haven’t noticed it.”

If Bitcoin were to surge by 2,200% again, it could reach over $1.6 million, a prospect that, while daunting, is not outside the realm of possibility based on historical behavior.

In the meantime, another analyst, Michaël van de Poppe, noted the upward movement of Bitcoin, forecasting it could reach $75,000, then possibly $80,000 soon, while cautioning against assuming a V-shaped recovery, instead suggesting a gradual recovery with notable performance expected from altcoins.

“Markets are breaking upwards, and #Bitcoin is already at $71K. I think that we’ll see $75K and potentially $80K during this month. Not a V-shape type of recovery, but easily a mean reversion bounce on higher timeframes.”
Translation: “Markets are trending upward, and Bitcoin is currently at $71,000. I anticipate that we will hit $75,000 and perhaps $80,000 this month. It’s not a rapid recovery but rather a rebound that is more stable over longer periods.”

This ongoing optimism in the crypto space continues to drive debate among analysts and investors alike.