Bitcoin Set to Mirror Japanese Stock Market’s Remarkable Late 1980s Surge, Predicts Crypto Analyst
A crypto analyst has drawn parallels between Bitcoin (BTC) and the Japanese stock market’s significant surge four decades ago. TechDev, an analyst with a substantial following on X, has shared charts comparing Bitcoin’s performance since 2010 with the Nikkei 225 index, which monitors 225 top companies on the Tokyo Stock Exchange from 1950 to 2000.
According to TechDev’s analysis, Bitcoin could potentially reach $760,000 between 2028 and 2029 before entering a prolonged bear market. Currently, Bitcoin, the leading cryptocurrency by market capitalization, is trading at $59,621.
TechDev also presented a chart juxtaposing Bitcoin’s price with the Chinese 10-year bonds (CN10Y) against M2SL, the adjusted measure of money supply in the United States. The analyst suggests that an increase in CN10Y against M2SL could trigger substantial Bitcoin price surges.
In a recent newsletter, TechDev expressed optimism amidst a downturn in the crypto market, noting the prevailing fear and negative sentiments. The analyst highlighted the cyclical nature of speculative markets, emphasizing that significant market movements often coincide with extreme sentiments.
TechDev illustrated this phenomenon by referencing past instances where market sentiment shifted dramatically in a short period. Despite short-term fluctuations, the analyst remains positive about the broader global economic outlook, indicating that market dynamics tend to evolve in response to prevailing sentiments.
It is essential to note that the views expressed by TechDev are for informational purposes and do not constitute investment advice. Investors are advised to conduct thorough research before engaging in high-risk investments in cryptocurrencies or digital assets. The Daily Hodl emphasizes the importance of due diligence and prudent decision-making in all investment activities.
