Bitcoin advocate Udi Wertheimer has made the case that Bitcoin (CRYPTO: BTC) is entering an explosive bull run, akin to what happened with Dogecoin (CRYPTO: DOGE) in 2020–2021.
What Happened: Wertheimer took to X on Monday to point out that Bitcoin’s surge is not just about price, as legacy crypto holders are being replaced by institutions, ETFs and treasuries like Strategy (NASDAQ:MSTR), which are accumulating without regard for past valuations.
This mirrors Dogecoin’s explosive 200x rally in 2020–2021, where old holders sold early, while new buyers, unaware of past price ceilings, kept accumulating until a sudden supply shock triggered massive upside.
Also Read: Why Are Bitcoin, Ethereum, XRP, Dogecoin Suddenly Skyrocketing?
That behavior caused a supply shock and sent Dogecoin soaring from fractions of a penny to $0.70 in 2021, a 200x move.
Wertheimer argues Bitcoin is following the same path, but on a much grander scale.
He warns the current consolidation phase isn’t the top, it’s the reset before liftoff.
New institutional buyers, especially via ETF flows like IBIT, aren’t concerned with technical ceilings.
To them, Bitcoin at $110,000 is still cheap, especially compared to other asset classes.
What’s Next: Udi Wertheimer base case is entering the first phase of a truly generational bull run, projecting a top of $400,000 by year-end.
Just as Dogecoin’s old holders missed the bulk of the rally, he warns today’s sidelined Bitcoiners may watch this run from the rearview mirror, unless they act now.
Ethereum (CRYPTO: ETH), he says, will be the biggest loser of this cycle, weighed down by long-term holders and underwhelming performance versus BTC.
The $4,000 target prediction show lack of belief and bagholders are still offloading on every pump. He even suggests that Strategy’s valuation could flip Ethereum’s, signalling a dramatic shift in crypto capital concentration.
Read Next:
Image: Shutterstock
