Bitcoin’s (BTC) price movements over the past few weeks have captivated investors and analysts alike.
One well-known analyst on TradingView has even predicted that Bitcoin could reach $330,000 if certain conditions are met.
This has led to speculation that Green Bitcoin (GBTC), a new eco-friendly Bitcoin alternative focused on sustainability, might benefit from an extended bull market.
Analyst Believes Bitcoin Could Hit $330k in Next Bull Cycle
TradingShot, a popular crypto analyst with over 71,000 followers on TradingView, has sparked a frenzy in the Bitcoin community with an eye-opening prediction.
According to their analysis, Bitcoin might be on the verge of breaking its long-standing “Theory of Diminishing Returns” (TODR) narrative – potentially driving its price to $330,000 in the next bull cycle.
The TODR narrative implies that each Bitcoin bull cycle generates lower returns than the previous one.
Historical data shows that profits have decreased from an astounding 530,000%+ to a more modest 2,051% in recent cycles.
However, TradingShot believes that if Bitcoin can pass the 2,051% mark in the current cycle, it could lead to a price peak above $330,000.
To back up this bold claim, TradingShot’s analysis examines Bitcoin’s recent trend of breaking narratives.
In June 2022, Bitcoin dipped below its previous all-time high, only to later surpass the 1-week moving average.
More recently, Bitcoin achieved a new all-time high above $73,000 ahead of the next halving event, indicating a clear shift in its trajectory.
Binance & Crypto.com CEOs Also Bullish on Bitcoin
TradingShot’s bullish prediction isn’t the only one generating excitement.
Industry giants like Crypto.com and Binance are also expressing their optimism about Bitcoin’s future.
Richard Teng, CEO of Binance, recently spoke at an event in Bangkok, where he shared his belief that Bitcoin is “just getting started.”
Teng pointed to the growing institutional interest in Bitcoin, as evidenced by the $57 billion under management in US spot ETFs.
Similarly, Kris Marszalek, co-founder and CEO of Crypto.com, views Bitcoin’s recent price drop as a healthy move that removes excess leverage.
In a CNBC interview, Marszalek compared the current market sentiment to the bullish period in late 2020 and early 2021, when Bitcoin rallied from under $20,000 to over $60,000 in just three months.
The bullish outlooks from TradingShot, Teng, and Marszalek paint a promising picture of Bitcoin’s future.
As institutional adoption continues to grow and the halving event approaches, many analysts believe Bitcoin is well-positioned for significant price appreciation.
Eco-Friendly Crypto Gem Green Bitcoin Poised to Benefit from Bullish Momentum
With another price surge potentially on the horizon for Bitcoin, many investors are looking for ways to capitalize on this bullish sentiment while supporting eco-friendly initiatives.
Enter Green Bitcoin, an innovative new project that aims to shake up the crypto market with a sustainable and eco-conscious approach.
Green Bitcoin introduces a “Gamified Green Staking” feature that allows GBTC holders to earn rewards by predicting Bitcoin price trends.
This approach offers novice and experienced investors a chance to transform their market insights into impressive earnings – all while contributing to a greener future.
Green Bitcoin’s presale has already gained significant traction, raising over $5.9 million so far.
Moreover, 64% of the total GBTC supply has also been staked since early adopters can earn an impressive 95% APY.
Green Bitcoin’s roadmap reveals plans to launch on major exchanges, roll out BTC prediction contests, and build a global community united by a passion for crypto and the environment.
The developers appear to be making headway on this last goal – Green Bitcoin’s Telegram channel has grown to over 3,500 members in just a few weeks.
With analysts like TradingShot predicting Bitcoin could reach as high as $330,000, projects like Green Bitcoin could be set to benefit.
Furthermore, given that GBTC tokens can be purchased for just $1.068 during the current presale stage, early backers of Green Bitcoin could be poised for substantial returns if the momentum persists post-launch.
