Real Vision’s chief crypto analyst, Jamie Coutts, believes that Bitcoin could experience a significant surge of over 155% during this market cycle. Speaking on Raoul Pal’s The Journey Man YouTube channel, Coutts suggests that Bitcoin could reach six-figure territory as the global money supply continues to increase. He explains, “If we look at the global M2 (money supply) and project it back to August, which is when the Bitcoin cycle peaked, it suggests a price of around $100,000 for Bitcoin. This is my base case, but with a very low probability. My proportional forecast is $170,000.”

Coutts goes on to discuss more optimistic scenarios, stating that Bitcoin could potentially skyrocket to $234,000 or even higher. He emphasizes the importance of assigning probabilities to these potential outcomes to create a grounded projection. He adds, “I don’t believe Bitcoin will go parabolic to $500,000 during this cycle. I see that happening in the future, but not in this particular cycle. So, it’s a very low probability.” Coutts concludes that his probability-weighted market forecast for Bitcoin by August of next year is around $189,000, which would give it a market cap of approximately $3.75 trillion.

According to Coutts, there is a 15% chance of Bitcoin hitting $100,000 by mid-August 2025. Over the same period, there is a 60% chance of reaching $170,335, a 20% chance of surging to $234,000, and a 5% chance of hitting $500,000.

Bitcoin is currently trading at $66,633. It is important to note that the opinions expressed in this article are not investment advice, and investors should conduct their own research before making any high-risk investments in Bitcoin or other cryptocurrencies. The Daily Hodl does not recommend buying or selling cryptocurrencies and is not an investment advisor.