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For the first time ever, it broke $100,000 and even went a little over $108,000.
With this staggering surge, its natural to questionwhether the trend will continue or crash.
The Bullish View
Some analysts predict that bitcoins value will continue to grow.
The most recent halving was in April 2024, with the next expected in 2028.
A lot of people are predicting a supercycle.
From late 2021 until late 2022, bitcoin lost about three quarters of its value.
And that was only when everyone expected a recession that never materialized, he explained.
If a recession materializes in 2025, bitcoin could ultimately fall more than 90%.
If there is another security breach [like] Mt.
Gox, expect a major crypto correction.
This would cause a major crypto correction, Hughes added.
Were now at, certainly near, the peak of the current bitcoin cycle.
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