Yves Lamoureux, president of Lamoureux & Co, a macroeconomic research firm, believes that the recent bitcoin price correction is part of a “crypto-zima” that has already come to an end.
The top manager predicts that bitcoin is about to begin another rally, culminating in the asset’s reaching $100,000 in value by the end of 2023. In his opinion, the ascent will last until 2025.
He noted that the next turning point in bitcoin’s price will be the halving, which should take place in 2024. According to Lamoureux, as bitcoin’s supply decreases, the asset will begin to appreciate.
I’m not giving a serious buy signal, I’m just saying, yes, you can start buying a little bit at a time. Bitcoin fluctuating at $30,000, more than 55% below its November 2021 record high of $68,990, meets many criteria for getting out of a bear market.
The expert advised investors to buy the asset in small increments because the future of the crypto market is shaky. In his opinion, bitcoin’s current heightened volatility is partly a result of the Terra coin crash.
I’m interested in bitcoin because it’s the king, and that’s where institutional money will flow first. So always choose the best. All coins want to be bitcoin, but it’s not going to happen…don’t make it hard, stick with bitcoin,” Lamoureux added.
On the evening of May 26, the flagship cryptocurrency was trading at $29,500, continuing to fluctuate between $29,000 and $30,500.