Pi Network's Future Hinges on Bitcoin's $200,000 Surge
1min read Pi Network, a cryptocurrency that has recently launched its mainnet, has seen significant price fluctuations. Initially rising to $2.98 on February 28, the token's value has since dropped to $1.8, mirroring the price movements of other altcoins. The future of pi coin remains uncertain, but it is likely to follow the price trends of Bitcoin, as is common with other altcoins. This article explores the potential value of pi network if Bitcoin's price reaches $200,000.
Bitcoin has shown remarkable growth since its inception in 2009, rising from less than $1 to its current price of $90,000. With improving fundamentals, there is a possibility that Bitcoin could surge to $200,000. This would require a 122% increase, which is achievable given that Bitcoin has risen by 220% since September 2023. The driving forces behind this potential surge include rising demand and falling supply. The demand for Bitcoin has increased significantly in recent years, as evidenced by the growing assets in spot ETFs, which have added over $40 billion in about 15 months. This trend is expected to continue. Additionally, the successful launch of Strategic Bitcoin Reserves by the US could further boost demand, as more countries and companies may acquire Bitcoins for their reserves. This increased demand coincides with a rise in Bitcoin mining difficulty, making the cryptocurrency rarer.
A surge in Bitcoin's price to $200,000 would likely lead to gains among altcoins, including Pi Network, which has gained significant popularity. Historically, altcoins like Solana, Cardano, and Litecoin have thrived when Bitcoin's price rises. Pi Network, in particular, has the potential to outperform Bitcoin due to several catalysts. One key factor is the likelihood of Pi coin receiving numerous exchange listings, such as Binance, coinbase, and Upbit. Such listings would make Pi coin available to millions of customers, and cryptocurrencies typically perform well when listed by tier-1 exchanges. Additionally, there is a possibility that one or more companies will file for a spot Pi ETF, which would further boost its price. As a Made in USA cryptocurrency with substantial utility, Pi coin could also be added to strategic crypto reserves.
If Bitcoin's price 