NBA Legend Who Predicted Bitcoin’s Bull Run Now Sets $1 Million Goal

TL;DR

Bitcoin hit a high of more than $108,000 in mid-December, but has since fallen to around $93,500 following policy updates from the Federal Reserve. Despite the recent recession, prominent figures such as former basketball player Scottie Pippen predict significant future earnings, with goals of up to $1 million. Is it early yet?

Bitcoin (BTC) has experienced a substantial rally throughout 2024, with the real bull run starting shortly after Donald Trump won the US presidential election. On November 5 (election day), the main cryptocurrency was worth around $68,500, while a month later, it broke the psychological level of $100,000. The rally continued and BTC hit a new all-time high of over $108,000 in mid-December.

However, the Federal Reserve’s last FOMC meeting slowed things down. While the US central bank announced another rate cut of 0.25%, Fed Chairman Jerome Powell hinted that policy could be paused in 2025 due to growing concerns about the inflation He also said the Fed is not allowed to hold BTC, casting doubt on Trump’s plans to establish a strategic Bitcoin reserve.

Since then, the asset’s price has been in a downtrend, briefly dipping below $93,000. It is currently worth around $93,500 (according to CoinGecko data).

BTC Price, Source: CoinGecko

However, BTC advocates hope that the negative trend will end soon, predicting new peaks. An example is one of the greatest basketball players of all time: Scottie Pippen. He recently stated that it is not too late to jump on the BTC bandwagon, believing that the asset’s market cap has a lot of room for growth. Pippen was among the biggest highs, setting a whopping goal of $1 million per coin.

You think you’re late to Bitcoin because it hit $100,000.

I think I’m early on Bitcoin because it’s a $1.7 trillion market cap out of $900 trillion in global assets.

Next stop, $1 MILLION $BTC

— Scottie Pippen (@ScottiePippen) December 28, 2024

It is important to note that he was quite accurate with his previous prediction. In early September, Pippen said he had a dream with the anonymous creator of BTC, Satoshi Nakamoto, who predicted that the price of the cryptocurrency would reach $84,650 on November 5 this year. We remember that the rating reached the target less than a week later.

Other BTC predictions

The list of industry participants who think BTC has yet to post substantial gains includes many names. User X, for example, recently surmised that the peak of the bull cycle could occur between June 2025 and October 2025. The analyst based his prediction on BTC’s performance during previous bull runs.

Jason Williams also chimed in, suggesting that the asset has re-entered the accumulation zone. “In my view, a few weeks of consolidation could set the stage for a massive breakout. $131,500 or more in Q1 2025 seems inevitable. See you there,” the analyst added.

SPECIAL OFFER (Sponsored) Binance Free $600 (Exclusive to CryptoPotato): Use this link to register a new account and receive an exclusive welcome offer of $600 to Binance (full details).

LIMITED OFFER for CryptoPotato Readers on Bybit – Use this link to register and open a FREE $500 position with any currency!