Bitcoin Price Could Explode By 570% Amid Surging US Debt Levels

It has been revealed that Bitcoin’s price could soar by 570% during the next bull run. Check out the latest price predicitons for the king coin below.

A cryptocurrency trader, who accurately predicted the end of Bitcoin’s 2021 bull market, believes that the king of cryptocurrencies will once again experience a significant rise due to the inevitable return of money printing.

The pseudonymous analyst, Pentoshi, has shared his opinion with his 702,300 followers on X social media platform, stating that it is just a matter of time before the US government starts printing money again.

According to Pentoshi, Bitcoin will enter a parabolic surge once the US government decides to devalue the dollar in order to pay off its massive debt burden of $33.523 trillion.

“When the printers come back to inflate away debt, and they will and always have. Just remember, BTC is fundamentally the hardest asset in the world with both a programmatic monetary policy and fixed supply. There’s always another cycle.”

The trader analyzed the chart and predicted that Bitcoin would surge to a new all-time high of $180,000, indicating a potential increase of approximately 570% from its current value.

Although Pentoshi is optimistic about Bitcoin’s future, he can’t determine when the Federal Reserve will begin cutting rates. He stated that “it’s challenging to predict when tightening will stop, and it can take several years to end. Or we could face years of stagflation.”

Additionally, Pentoshi is monitoring Bitcoin’s performance relative to the M2 money supply. M2 is an essential liquidity indicator since it considers the amount of liquid money moving within the system.

According to Pentoshi and other crypto traders, a bullish market for Bitcoin is typically triggered when M2 or global liquidity is increasing. Pentoshi shared a chart indicating that Bitcoin versus M2 is approaching a significant breakout.