Expert Who Predicted 2021 Bitcoin Peak Expects $600k By 2026
Tuur Demeester, a Bitcoin OG and researcher for Adamant Research shared his bullish outlook for Bitcoin via X (formerly Twitter), anticipating its price could escalate to between $200,000 and $600,000 by 2026. Demeester’s prediction is predicated on the influx of trillions of dollars through global bailouts and stimulus measures, which he believes will significantly propel Bitcoin’s valuation.
He remarked via X (formerly Twitter), “In ’21 bitcoin topped at $69k. I’m targeting $200-$600k by 2026. Fueled by $ trillions in global bailouts/stimulus,” indicating a strong conviction in the cryptocurrency’s future amidst expansive monetary policies.
In ’21 bitcoin topped at $69k. I’m targeting $200-$600k by 2026. Fueled by $ trillions in global bailouts/stimulus. https://t.co/ULslIMgzee
— Tuur Demeester (@TuurDemeester) February 12, 2024
In response to the question of whether the Bitcoin price will peak in 2025 or 2026, Demeester added: “It’s hard to say. We might get a bull cycle in two parts, like in 2013 – that could draw it out longer.”
Demeester’s track record lends weight to his forecasts. Notably, in September 2019, he accurately anticipated the previous bull run’s momentum, suggesting Bitcoin could reach $50,000 to $100,000. The reality surpassed expectations as Bitcoin peaked above $69,000 in November 2021, validating his prediction range’s upper end.
Why The Bitcoin Rally Is Far From Over
Adding depth to his latest prediction, Demeester pointed to Google trends data, which often serves as a barometer for retail investor interest in Bitcoin. Despite Bitcoin hitting $50,000 yesterday, Yassine Elmandjra, a researcher at Ark Invest, highlighted that Google search volumes relative to Bitcoin’s price are at all-time lows, suggesting a lack of widespread retail frenzy at this stage.
Bitcoin hit $50k.
Meanwhile, Google search volumes relative to price are at all time lows.
This is a new era. pic.twitter.com/8DnsadIclt
— Yassine Elmandjra (@yassineARK) February 12, 2024
This observation led Demeester to suggest, “I expect for retail to start waking up soon. Remember, there is no fever like Bitcoin fever,” indicating his anticipation of a surge in retail engagement once Bitcoin’s price momentum gathers pace.
Demeester also shared sage advice for investors, cautioning against the perils of debt and overexposure given Bitcoin’s notorious volatility. He emphasized the psychological resilience required to ‘HODL’ through market turbulence, stating, “The HODL attitude requires psychological & emotional work. The unprepared investor cannot sit tight, only the one who has worked to imagine the market relentlessly punching him in the face.”
Addressing inquiries about the future trajectory of Bitcoin, Demeester expressed uncertainty regarding the continuation of the four-year cycle pattern, suggesting that market dynamics are too complex for such predictable cycles to persist indefinitely. “I don’t know if the four-year cycle will hold. That sounds too good to be true tbh. All patterns seem to eventually break,” he commented, highlighting the unpredictable nature of markets.
On the topic of the anticipated economic bailouts, Demeester clarified his stance, pointing to the unsustainable fiscal practices of banks and governments as a catalyst for monetary expansion.
“Of banks and governments. For example, the US government today is already spending more on interest payments than on their military. Only way to keep going is to print an ocean of money,” he explained, providing a grim outlook on the financial stability of key institutions and the potential for BTC to benefit from these conditions.
Money Printing = Numbers Go Up
To understand Demeester’s claims, it’s essential to understand the broader economic dynamics at play. Economic stimulus packages and bailouts, particularly in response to crises, inject liquidity into financial markets, potentially devaluing fiat currencies through inflation.
Hard assets like Bitcoin, with their capped supply, stand in contrast to potential inflationary pressures, offering a hedge against currency devaluation. This dynamic, coupled with increasing institutional adoption by spot ETFs and the growing recognition of Bitcoin as a ‘digital gold,’ could send BTC’s value to unprecedented heights, aligning with Demeester’s projections.
At press time, BTC traded at $49,856.
Featured image created with DALL·E, chart from TradingView.com
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