Coin Edition -
- Ran Neuner shared in a recent interview with Altcoin Daily that he believes BTC’s price will correct soon.
- However, Neuner has very high expectations for BTC for the next bull cycle, predicting it could reach $200K.
- At press time, BTC was trading hands at $41,881.52 after its price slipped by 0.66% throughout the past day.
In one of their latest YouTube videos, Altcoin Daily held an interview with the cryptocurrency analyst and the co-founder and CEO of Onchain Capital, Ran Neuner. In this interview, Neuner expressed his concerns that the price of Bitcoin (BTC) could experience a big correction soon.
According to an X post shared by Neuner earlier in December, “everyone is euphoric, everyone is rich, everyone is posting screenshots of their gains.” However, Neuner believes this could be a serious warning sign.
Also sending off warning signals for Neuner is the fact that there has been a huge spike in altcoin leverage to levels last seen in 2021. Essentially, this increase in leverage means that people are so confident that prices will rise that they are willing to borrow money to get into the market, which is also a red flag in his opinion.
Neuner stated in the interview that the market is getting too euphoric, and once leverage levels start reaching new highs, it is almost always followed by a correction. In fact, he stated that a correction is “almost inevitable”.
On the other hand, the analyst is extremely optimistic about BTC’s potential after the halving and during the next bull cycle. His optimism is largely based on the fact that it will be a very unique cycle as three important aspects will align for the very first time ever in the next bull cycle.
First is the upcoming BTC halving. Second is the increase in demand for BTC, led by the possibility of an ETF approval from the SEC. Neuner stated that this will remove all barriers for institutions to get into BTC. Lastly, the next bull cycle will coincide with the beginning of a new global liquidity cycle.
Neuner even went as far as to say that he expects it to be a “super cycle”. When asked what he predicts BTC’s top could be during the next bull cycle, he predicted that the market leader could look to target $200K, and stated that it might not be impossible for BTC to 3x on its previous high.
BTC / Tether US 1D (Source: TradingView)
At press time, BTC was worth about $41,881.52 after its price dropped by 0.66% over the past 24 hours of trading, according to CoinMarketCap. BTC was also down by over 4% on its weekly time frame.
The post BTC Predicted To Hit $200K During Next Bull “Super Cycle” appeared first on Coin Edition.