According to a statement made by Real Vision Chief Crypto Analyst Jamie Coutts on X, the Bitcoin price could rise to $150,000 by the end of 2024.
Coutts’ bullish forecast is based on historical trends and macroeconomic forces, suggesting that BTC is preparing to enter what he calls “crazy season” or “banana territory.”
A term coined by Real Vision founder Raoul Pal, the “banana zone” refers to a phase in the debt refinancing cycle driven by overall macroeconomic conditions. While this period typically impacts all asset prices, cryptocurrencies, especially Bitcoin, tend to outperform during these periods.
Coutts noted that in each of the last two major bull cycles, Bitcoin reached an all-time high within 365 days of the local peak in the US dollar index (DXY). Based on this model, Coutts suggests that Bitcoin could more than double its current price and reach $150,000 by the end of 2024.
“Unless there is a fundamental change, the price trend for Bitcoin remains strong and conditions are aligning for another significant rally,” Coutts said.
*This is not investment advice.
