He said the so-called crypto winter for Bitcoin is over for now, with a forecast for the #1 cryptocurrency to reach $100,000 by later 2023, in a run higher that could last up to 2025.

“I’m not giving a major buy signal, I’m just saying, yes, you can start to buy a little bit,” Lamoureux told MarketWatch in a recent interview. Hovering at $30,000 and off more than 55% from a record high of $68,990 in November 2021, bitcoin meets much of his criteria to exit a bear market, he said.

“One of the main things that drives Bitcoin (BTC) is supply,” he said. “There’s less supply, so there’s less coming to the market …that historically has always driven prices higher. What I’m saying is that it’s out of the narrative now.”

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