Jamie Coutts, chief crypto analyst at Real Vision, said that "unless something fundamental changes", bitcoin's price movement is still expected to enter "crazy season", also known as "banana zone", a term coined by Real Vision founder Raoul Pal to refer to a debt refinancing cycle driven by macroeconomic forces that affects all asset prices, but cryptocurrencies in particular. Coutts pointed out that in the first two bull cycles, Bitcoin reached new all-time highs within 365 days of the local dollar index's peak. He suggested that if Bitcoin follows the previous bull market pattern, its price could rise by more than 100% from the current level, reaching $150,000 by the end of 2024.