- An analyst from BitBoy Crypto named AJ predicted in his latest BTC analysis that the crypto may climb to $140K.
- AJ also forecasted that BTC will make up the majority of the market share within the next few years.
- At press time, BTC was trading at $31,024.84 after it gained 1.37% over the past 24 hours.
The crypto market analysis channel BitBoy Crypto uploaded its latest analysis for Bitcoin (BTC). In the video, the analyst predicted that the leading crypto could climb to as high as $140K in the next bull cycle. This bold prediction follows BlackRock’s BTC Exchange Traded Fund (ETF) filing, which resulted in several other large funds submitting their own filings.
Consequently, the analyst predicted that BTC is poised to capture a significant share of the cryptocurrency market in the foreseeable future. This assertion is reinforced by two key factors: BTC’s exemption from being classified as a security, unlike numerous altcoins, and its pioneering position in the market, which has piqued the interest of institutional investors.
The analyst also forecasted that BTC will maintain the number 1 spot in the crypto market for the next few years. However, he did not rule out the possibility of Ethereum (ETH) overtaking BTC in terms of market cap in the long term.
From a tokenomics standpoint, BTC is overshadowing the majority of altcoins, according to the analyst. This is largely due to the fact that 92% of BTC’s max supply is in circulation. This is in stark contrast to numerous crypto projects with a max supply ranging from 500 million to 1 trillion tokens that only have around 50% of their supply in circulation.
Overall, the BitBoy Crypto analyst speculated that BTC could climb to between $100K to $140K in the next bull market. He added that BTC’s market cap will rise to at least $2 trillion should his bullish thesis be validated.
Daily chart for BTC/USD (Source: TradingView)
At press time, BTC’s price stood at $31,024.84 after it increased 1.37% over the past 24 hours, according to CoinMarketCap. This 24-hour gain added to the leading crypto’s already-positive weekly performance – pushing its weekly performance to +1.68%. Meanwhile, BTC’s market cap was estimated to be $600,433,780,870.
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