Bitcoin's Price Expected To Enter 'Banana Zone' Amid Economic Forces

According to BlockBeats, on August 28, Real Vision's Chief Crypto Analyst Jamie Coutts stated that Bitcoin's price trajectory is likely to enter what is termed the 'Banana Zone,' barring any fundamental changes. This term, coined by Real Vision founder Raoul Pal, refers to a debt refinancing cycle driven by macroeconomic forces that impact all asset prices, with cryptocurrencies being particularly affected. Coutts highlighted that during the previous two bull market cycles, Bitcoin reached new all-time highs within 365 days following the peak of the local US Dollar Index. He suggested that if Bitcoin follows the pattern of previous bull markets, its price could potentially increase by over 100% from its current level, reaching $150,000 by the end of 2024.