Bitcoin’s Price Could Surpass $1 Million in the Next Decade, Says ARK Invest

A research team of the American investment management firm ARK Invest envisioned a highly optimistic future for bitcoin. According to them, the price of a single coin could surpass $1,000,000, and the asset’s market capitalization might reach $28.5 trillion by 2030.

Bitcoin to Peak at Over $1 Million

The Nasdaq-listed company ARK Invest, led by Catherine Wood, has been an advocate of the cryptocurrency industry for a while, especially bitcoin. In July last year, the organization purchased 450,000 additional shares of the Grayscale Bitcoin Trust in two days. As of now, the firm holds more than 6.5 million shares of GBTC.

In turn, Cathie Wood – has displayed a pro-bitcoin stance numerous times as well. At the end of last year, she came up with the bold prediction that the leading digital asset could reach $500,000 in five years.

In its most recent research, ARK Invest envisioned even more significant expansion for bitcoin – $1.36 million per single coin by 2030. The team estimated that this price increase could happen as the market cap of the cryptocurrency taps $28.5 trillion:

“According to our research, Bitcoin’s market capitalization could scale more than 25-fold in the next decade, with each exceeding $1 million in value.”

ARK Invest outlined several achievements, which the primary digital asset registered in the past months. These include surpassing $1 trillion in market capitalization in February 2021, the approval of the first BTC ETF by Canadian regulators, and the SEC’s green light on the Bitcoin Futures ETF in October.

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Subsequently, the team pointed out that the crypto asset has received more attention from institutional investors who want to hold it long-term. It also outlined El Salvador’s pioneering move to adopt bitcoin as legal tender inside its borders.

‘Ethereum Is a Work in Progress’

Apart from bitcoin, ARK Invest’s team forecasted a bright future for Ethereum, as well. The research argued that the second-largest blockchain could displace many traditional financial services, while its native token ether could compete as global money. The latter’s market capitalization could even exceed $20 trillion in the next ten years, ARK Invest suggested.

Given today’s total supply of ETH, if such a market cap is reached, then a single coin will be valued at roughly $175,000.

The analysts described Ethereum as “a work in progress” since it is on its way to updating its network to Ethereum 2.0, expected to happen this summer. As a result, the project will shift from a proof-of-work mining method to proof-of-stake and thus become “greener.”

Many believe the protocol will also become more scalable after the transition. Currently, Ethereum can process 15 transactions per second, while Ethereum 2.0 should be able to reach 100,000 TPS.

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Bitcoin Price to Reach $100K, Could Steal Attention from Gold: Goldman Sachs

The US multinational investment bank Goldman Sachs highlighted a scenario in which bitcoin hits the often-touted price milestone of $100,000. To reach that price level, institutional adoption towards the primary cryptocurrency needs to increase significantly and surpass gold.

Goldman Sachs Joins The $100K Club

The Wall Street behemoth has displayed a controversial approach to the cryptocurrency space over the years. It seems like its ever-changing view is influenced by the momentary situation of the digital asset industry.

Amid the parabolic price increases of most tokens in 2017, Goldman Sachs vowed to launch a crypto trading desk. Following the year-long bear market in 2018, though, the company halted the initiative.

Last year, the investment bank continued with its dubious views, jumping from supporting the cryptocurrency industry to claiming that bitcoin is not a substitute for gold but copper.

However, the leading digital asset marked a 60% price increase in 2021, and now Goldman Sachs went on the optimist’s corner once again. According to Zach Pandl – Co-Head of Global FX and EM strategy – if BTC continues to take market share from gold as part of its broader adoption, it could more than double its price in the next five years:

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“If bitcoin’s share of the store of value market were “hypothetically” to rise to 50 percent over the next five years, its price would increase to just over $US100,000, for a compound annualized return of 17 percent or 18 percent.”

The executive estimated that as of the moment, bitcoin’s float-adjusted market capitalization is just under $700 billion, which is an approximate 20% share of the “store of value” (gold and Bitcoin) market. At the same time, the value of the precious metal available for investment is calculated at $2.6 trillion.

Zach Pandl
Zach Pandl, Source: Goldman Sachs

Is $100K Coming This Year?

Another prominent figure who envisioned this price tag for bitcoin is Antoni Trenchev – Co-Founder of the cryptocurrency lending platform Nexo. In his view, BTC is an inflation hedge equal to gold which, combined with the rising institutional adoption towards the asset, could drive its price towards $100K by the middle of 2022.

Nayib Bukele – the President of El Salvador – also expressed some bullish crypto predictions for the ongoing year. According to the leader, bitcoin could reach the milestone in the next 12 months, while at least two more countries will follow his nation’s path and adopt the primary digital asset as a legal tender.

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Survey: Only 24% Think Bitcoin Price Will Be Below $50K By End of 2022

Although bitcoin ended up with a more than 60% increase in 2021, there was a bit of a disappointment in the crypto space. This is because the asset failed to increase into a six-digit territory and actually fell by 30% in less than two months.

The creator of the popular stock-to-flow model, though, initiated a poll, which shows that nearly 50% of the community expects BTC to head to and above $100,000 by the end of 2022.

Above $100K in the Next 12 Months?

Before exploring the most recent poll, it’s worth noting that such surveys are widely dependent on the current market mood and can change quite rapidly. For example, in one such poll from September 2020, when BTC was just breaking above $10,000, most people said it will not go above $55,000 in 2021, which it did.

Later on, in March last year, when BTC was flying high at above $55,000, the majority of the community voted that it will go to north of $100,000, which it didn’t. Moreover, the biggest optimists even said it will go to $500,000.

Now, the general sentiment is somewhat more bearish, evident by the Bitcoin Fear and Greed Index indicating Extreme Fear. This is mainly because bitcoin is down by more than 30% since its mid-November peak of $69,000.

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As such, it’s expected to a large extent that most people will be more modest in their 2022 predictions. PlanB’s latest Twitter survey shows that nearly 24% believe BTC will stay below $50,000, 31.1% think it will be between $50,000 and $100,000.

Yet, the answer with the most votes sees bitcoin going into a six-digit territory between $100,000 and $200,000. Only 12.6% voted that BTC will exceed $200,000.


2021 Was Actually Very Good

Despite the current negative sentiment in the community due to the latest price slides, last year was actually quite positive for the primary cryptocurrency. It charted several new all-time highs, with the latest coming at $69,000 as mentioned above.

Although BTC dropped by more than $20,000 since then, it still finished the year with an over 60% increase. As a result, PlanB outlined that it has outperformed most other traditional financial assets, including gold. In fact, the precious metal, considered by many as the ultimate hedging tool against inflation, ended up with a minor loss in a year that saw inflation rates skyrocketing.


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Brock Pierce Sees Bitcoin Price Tapping $200,000 in 2022

Bitcoin’s price could surge to a five-digit territory next year and even briefly touch $200,000 due to the global economic situation, asserted the co-founder of Block.One and former US presidential candidate – Brock Pierce.

He also believes regulations could help the cryptocurrency space but only if they are incorporated following thorough research.

BTC to $200K in 2022?

Pierce is among the most popular individuals in the cryptocurrency space, with connections to several projects such as Block.One and Tether. He also tried his luck at the 2020 US Presidential elections to no avail and said earlier this year that bitcoin will peak at $100,000 by the end of it.

With less than 48 hours left until 2021 finishes and BTC trading well below $50,000, it’s safe to assume that this prediction will not come true. However, Pierce continues to be bullish on the primary cryptocurrency and its USD price movements.

In a recent interview with Fox Business, he outlined the current economic situation, in which governments print excessive amounts of fiat currency and the inflation increases dramatically, as the main reason why BTC could skyrocket next year.

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“I will not be surprised if we saw a bitcoin price of over $100,000. It’s even conceivable that it could break $200,000 for a moment.”

He admitted that bitcoin is not a hedge against traditional financial assets perse as it’s more volatile and unregulated. Still, it attracts investors due to the possibilities of higher returns compared to gold and real estate.

Regulations Are Good

Pierce also touched upon another hot topic in the crypto space in the past few years – regulations. More specifically, he addressed Senator Elizabeth Warren’s bashing comments on the industry but believes that she and her team need to do more research before heading down that road.

“I encourage her to continue to be informed. I’m glad that she has taken the time to learn. I’m glad that she has taken the time to form an opinion, but make sure you’ve got the right information before doing that.”

However, he agreed with Warren that the majority of the BTC wealth is distributed to a handful of people that went in early and noted that this has to change to further decentralize the asset.

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Bitcoin to Reach $250K in 5 Years, Says Morgan Creek’s Mark Yusko

Mark Yusko – Chief Executive Officer at Morgan Creek Capital Management – once again opined that bitcoin’s USD value can skyrocket to $250,000 in the next five years. However, it might have a bumpy ride until reaching that milestone.

Better Than Gold

The American investor, hedge fund manager, and philanthropist – Mark Yusko – is a long-time bitcoin proponent with a consistent opinion of the asset. Earlier this year, he predicted that it will need no more than five years to land at a price of $250,000 due to network growth and rising adoption levels.

”This is a network and networks grow in an exponential way. This is the fastest network in history to a trillion dollars of value, right on the heels of FAANGS that took, you know 15 to 20 years depending on which one you are looking at.”

In a recent interview for CNBC, Morgan Creek Capital Management’s CEO envisioned the same forecast. He also praised the primary digital asset as superior to gold due to its fixed supply of 21 million coins:

“It’s classic supply and demand. One of the nice things about bitcoin as an asset is it has a finite supply. We know every day for the next 140 years how many bitcoin will be minted through the mining process.”

By the time when bitcoin reaches $250,000, its market cap would also equal that of the precious metal, Yusko added:

“I believe bitcoin has and is replacing gold. It’s now digital gold. It’s a perfect store value.”

Mark Yusko. Source: Yahoo
Mark Yusko. Source: Yahoo

Risk of Buy The Rumour, Sell The News

Contrary to his long-term prediction, the hedge fund manager “wouldn’t be surprised if a little consolidation” occurs in the next few months. While many experts such as Mike McGlone and Adam Back have recently pointed out $100,000 as bitcoin’s price tag for the end of 2021, Yusko is not so convinced:

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“There are a lot of people that think we could hit $100,000 by the end of the year. The stock-to-flow model says we should. I also wouldn’t be surprised of a little consolidation. Look, we’re up 40% this month which is only 15 days old.”

He argued that a significant percentage of the crypto investors will take profits due to the recent sharp rally of the digital asset market. This could be another reason for BTC’s price to head south soon:

“A pause that refreshes given how overbought we are right now wouldn’t surprise me. There is some risk of the buy the rumor, sell the news.”

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Fidelity’s Jurrien Timmer: BTC Will Reach $100K in The Next Couple of Years

Jurrien Timmer – Fidelity’s Director of Global Macro – believes bitcoin will trade at $100,000 by 2023. Regarding its correlation with gold, he said both assets are “different players in the same team.”

The Road to $100K

Bitcoin’s price has been, and most probably will remain, one of the hottest topics in the cryptocurrency space. Future predictions are also frequently discussed, and the end of 2021 is the next time target, which many proponents and analysts see bitcoin tapping $100,000.

Such is the case with Bloomberg’s Senior Commodity Strategist – Mike McGlone. Last month, the expert took into account bitcoin’s growing adoption and declining active supply to predict that it will land at $100,000 by the end of 2021.

Jurrien Timmer – Fidelity’s Director of Global Macro – also believes BTC could go into a six-digit territory, but his timeframe is larger. In a recent interview with CNBC, he indicated that BTC’s USD value will have five zeros by 2023:

“I have a supply model and a demand model and the next and last time that those two models intersect is at around $100K in a couple of years.”

Timmer also touched upon another popular topic – the correlation between the primary cryptocurrency and gold. He said the two assets are not competitors but “two different players in the same team.” However, he would actually prefer to compare the cryptocurrency with the multinational tech giant – Apple:

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“I’ve got another study where I compare it actually to Apple’s network, its valuation, and its size.”

Timmer
Jurrien Timmer, Source: Twitter

BTC And The Dollar

On another note, Timmer opined that bitcoin will remain connected “in some way” to the American dollar. He added that, as of the moment, the leading digital asset is “kind of clunky, slow, and not very stable.” As such, it does not threaten the dominance of the US national currency:

“I really don’t think bitcoin threatens the dollar or the dollar’s reserve status. I don’t think the dollar’s hegemony as a reserve currency is at risk at all.”

Fidelity’s Director also mentioned the two assets last month when airing his thoughts about El Salvador’s bitcoin adoption. He called the country’s decision “new and interesting development,” but believes the significance of it is “a little bit overplayed:”

“It’s not like El Salvador has dropped the US dollar as its peg – it’s not like it switched from dollars as its currency peg to Bitcoin. It still has the dollar, and people can decide to be paid in dollars. So, this is a voluntary thing essentially.”

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BTC’s Price to Reach $90,000 in Late 2022, Predicts Technical Traders’ CEO

Chris Vermeulen – Founder and CEO of Technical Traders LTD – opined that bitcoin’s USD value would increase to $90,000 in about a year. Nonetheless, its price might plunge to $16,000 on its way to the new all-time high record.

How Does The Road to The Top Look Like?

In a recent interview for Kitco, Chris Vermeulen spoke about the future price tag of bitcoin. According to the presented charts and his analysis, the USD value of the primary cryptocurrency would go through major setbacks and would remain highly volatile in the next several months.

Speaking of exact numbers, the top executive predicted that it could plummet to $21,000 and even $16,000. Keeping that in mind, he advised investors not to deal with bitcoin, as of the moment, as its downtrend “could last one year, but it could also last eight years.”

He pointed out that many people are keen on cryptocurrencies. However, as is the case with precious metals, they should not “hold them when it’s not favorable” just because they “love them.”

While bitcoin’s future price seems hard to predict, Vermeulen noted that its recent pullback is one of the “smallest” compared to those throughout the years. However, he believes its price is likely to skyrocket to nearly $90,000 in mid 2022:

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“We are looking at pretty much $89,000-$90,000 mark but that might not happen until next year, that’s my game plan.”

Is BTC Still on Its Way to Hit $100K?

While Vermeulen envisions a sharp price sharp ahead of a surge for BTC’s price, others believe that the asset will head north only, especially by the end of this year.

Such is Florian Grummes’ opinion. Last month the financial analyst stated that BTC could retrace to around $35,000 before skyrocketing once again. Landing at $100K would happen not later than the first quarter of 2022, he added:

“Bitcoin turns around at $35,000 and goes back to $60,000 and the bull market continues. I think $100,000 is probably happening within the next six months.”

The British cryptographer Adam Back shared an even more optimistic forecast: he sees the leading digital asset trading at $100K by the end of 2021. According to him, the global acceptance and deployment of bitcoin had reached a high enough level. It is also a better financial instrument than gold, he concluded:

“The comparison I liked was the competitor to physical gold, because, in many ways, bitcoin is a better physical gold.”

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Gold Is Safe Like a Volvo, Bitcoin Is Like a Ducati Panigale, Says Austrian Investor

The Austrian investor – Ronald-Peter Stoeferle – opined that bitcoin’s USD value would skyrocket with unimaginable temps in the next decade. Still, he believes that the primary cryptocurrency would never flip gold praising the precious metal as the most secure financial instrument. As such, he made a compelling argument that gold operates as a safe Volvo, while BTC is a wild ride like a Ducati.

How Does BTC’s Future Look Like?

In a recent interview for Kitco News, Ronald-Peter Stoeferle – Managing Partner and Fund Manager at Incrementum AG – gave his two cents regarding the merit of the cryptocurrency and its correlation to gold.

The author of the “In gold we trust” report said bitcoin and the yellow metal are actually very similar financial tools. In his opinion, they are not “enemies” as they are both “hedges against all those big monetary experiments” and fiat money. Investors should not choose one over the other but have an allocation in both.

Speaking about the future price tag of bitcoin, Stoeferle predicted that it could climb to levels that might seem unimaginable as of now:

“I think if bitcoin will be around in 5 to 10 years I think prices will go to levels that we cannot imagine at the moment.”

However, the Austrian does not believe that the primary digital asset will ever flip gold as a leading financial instrument. While it is “quickly catching up,” bitcoin is still far behind the precious metal in terms of market capitalization.

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Ronald-Peter Stoeferle
Ronald-Peter Stoeferle, Source: Incrementum

Gold Is Like Volvo, BTC Is Like Ducati Panigale

Explaining the difference between the two assets, Stoeferle made an interesting comparison. He sees gold’s stability as having a “big Volvo SUV” in your garage that can take you comfortably from point A to point B.

It is not the case with bitcoin, though. The primary cryptocurrency is like riding a Ducati Panigale. Traveling with the really fast motorcycle is definitely more fun but at the same time riskier:

“And as soon as it starts raining or snowing it’s going to get really risky. You just have to choose if you can stand the volatility of bitcoin.”

With that said, the Austrian concluded that people either love the digital asset or they hate it, “there is nothing in between.”

Crypto Craze = Gold Rush

The relation between virtual assets and the precious metal has been a hot topic lately, with many prominent individuals weighing on it.

Another investor who stated his views regarding the matter is Ken Moelis. The American billionaire made an interesting comparison between the ongoing crypto craze and the gold rush in the mid 19th century. He believes people nowadays are just as enthusiastic about digital assets as they were about the yellow metal back in 1848.

Keeping in mind that 150 years ago, people “didn’t know there is gold in the ground” might sound like a hint that bitcoin and the altcoin have a huge future potential.

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Bitcoin Price to Hit $100,000 by End of 2021: Chainalysis CEO

The CEO of blockchain forensics firm Chainalysis is optimistic that the bitcoin price will rise above $100,000 before the end of 2021.

$100k by December 2021

In a Bloomberg interview on Thursday (September 3rd, 2021), Michael Gronager, who is also the co-founder of cryptocurrency exchange Kraken, asserted that bitcoin and the cryptocurrency market, in general, are still in a bull run state.

Earlier in August, Kraken CEO Jesse Powell noted that the market was still in the early bull cycle. Speaking on bitcoin’s price prediction at the time, Powell said

“We could see $100,000 plus per coin late this year, early next year.”

Meanwhile, the Chainalysis CEO seemed to agree with Powell’s BTC price prediction, when asked if he believed bitcoin’s value could skyrocket to over $100K in 2021. According to Gronager:

“I think we are still in the bull market. I think we can see above a $100k by the end of the year, so I would be bullish on that as well. Long term, I would probably usually say the Moon is the limit but we can go beyond that as well.”

The Chainalysis head has joined the list of people who have predicted bitcoin’s price going above $100,000. Others such as Kevin Wadsworth of Northstar & Badcharts, Jordan Belfort, also known as the Wolf of Wall Street, Blockstream CEO Adam Back, Florian Grummes, have made similar predictions.

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Even well-known bitcoin critic and economist Peter Schiff also stated that the BTC price could reach $100,000 or $1 million.

Gronager also commented on the price of ether (ETH), stating that there were some factors driving up the value of the second-largest crypto. According to the Chainalysis chief, one of such factors was the continuous growth of DeFi, which has contributed to ETH’s upward price movement.

Lack of Bitcoin Awareness Causing Resistance Among El Salvadorans

The Chainalysis CEO also discussed El Salvador’s bitcoin adoption. Although the Bitcoin Law proposed by President Nayib Bukele saw a supermajority vote in favor of making BTC a legal tender in the country, there has been some resistance.

With the law set to come into effect on September 7th, a recent survey showed that close to 70 percent of El Salvadorans were not enthusiastic about the Bitcoin Law.

Meanwhile, Gronager noted that the citizens were resistant to bitcoin adoption because they had little or no understanding of the asset. As stated by the Chainalysis head, people preferred to use the dollars they are familiar with.

The CEO continued, noting that if they downloaded the government’s Chivo wallet, they would realize how simple it is to use bitcoin. As previously reported by CryptoPotato late August, President Bukele already set up the necessary infrastructure ahead of the formalization of the Bitcoin Law.

El Salvador’s Assembly also recently voted in favor of establishing a bitcoin trust worth $150 million.

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Bitcoin’s Current Bull Run to Peak at $100,000 by the End of 2021: Analyst

Kevin Wadsworth – co-founder of the technical analysis company Northstar & Badcharts – opined that the current cryptocurrency bull market would “conclude before the end of the year” and bitcoin would reach a price of around $100K. The top executive also stated that the primary digital asset’s USD value might exceed $1 million in 2025.

The Bull Market Is Still Yet to Peak

During an interview for Kitco News, Wadsworth shared an optimistic prediction about bitcoin and the cryptocurrency industry in general. Based on his company’s chart reviews, he forecasted that the current bull run of the digital asset market would reach its peak in the upcoming few months:

“I think the crypto bull market probably will conclude before the end of the year. “

Speaking of bitcoin, Wadsworth anticipates its price to increase in “September, October, and presumably November.” He expects to see it escalating to $100,000 during those months. Some of the leading altcoins such as Ethereum could also gain significantly as price surges by 3-4 times are quite possible:

“My target with bitcoin is somewhere close to $100,000. Anything above that is a huge bonus. If we get to $100K, I expect the altcoins – Ethereum and the rest – to triple and quadruple.”

The list of people predicting that bitcoin’s price will reach the milestone of $100,000 sometime soon keeps growing. It includes prominent names such as Jordan Belfort, a. k. a. The Wolf of Wall Street, Tom Lee, a Managing Partner at Fundstrat Global Advisors, Adam Back, CEO at Blockstream.

It is worth noting that even Peter Schiff – one of the biggest BTC bashers – believes the primary virtual asset can climb to such a price level. Despite keeping his negative stance on the matter, the economist admitted that not buying BTC in 2011 when he had first heard about it was a “keen mistake.”

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What About BTC Trading at $1M?

Based on the company’s analysis, Kevin Wadsworth drew an even more optimistic future for the primary cryptocurrency: its USD value would skyrocket to $1,000,000 in four years. The British also assured that Northstar & Badcharts’ analysis has a 90-95% success rate when predicting such price events:

“We’d be at $1 million probably around 2025.”

Regarding the short-term price, Wadsworth described himself as “cautiously bullish.” To him breaking above $51,000 is crucial. If BTC does not achieve it, the USD value could head south to a level of $25,000 before starting to rally once again.

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Bitcoin (BTC) $ 41,853.21 4.57%
Ethereum (ETH) $ 2,225.36 1.01%
Litecoin (LTC) $ 72.21 0.40%
Bitcoin Cash (BCH) $ 249.25 8.54%