How High Will Bitcoin Go? ($100,000, Says Key Model)
TIL, a key model is predicting Bitcoin is about to rise to $100,000.
Oh, sh-t!
But it doesn’t stop there.
How High Will Bitcoin Go
According to PlanB, the developer of a Bitcoin stock-to-flow model, the price of one Bitcoin could rise to over $5 million in 2024. PlanB’s model has been right on point since its introduction.
Based on my 2-minute research tonight, PlanB is a quant hiding behind a pseudonym in social media circles. (Hi, I’m The Mean).
However, knowing my share of quants – this person is a legit analyst.
I’m not going to pretend to know the science behind Bitcoin. Or even what a Bitcoin truly is. But I do know economics, and between the pandemic and social change, things are volatile.
So how does Bitcoin get there? Well, one way is the collapse of the U.S. Dollar through endless printing of $$$. With the pandemic eroding the foundation of the U.S. economy, the service industry being crushed, an election fiasco in the making, endless money supply, civil unrest, wildfires roaring….yea, I can see some negatives for “the market”.
Since the #1 rule for investors is to not lose $, they will seek safe havens for their cash. Gold and silver have always been there. Perhaps, Bitcoin is next.
Why Is Crypto Going Up
The rise in Bitcoin prices is thought to be linked in part to rumors around Amazon seemingly taking an interest in cryptocurrencies.
The speculation is fuelled by news that Amazon is advertising a new job role for a “digital currency and Blockchain product lead”.
The job advert posted by Amazon said: “The Payments Acceptance & Experience team is seeking an experienced product leader to develop Amazon’s Digital Currency and Blockchain strategy and product roadmap.
There has been speculation that this could mean Amazon is considering taking steps towards accepting cryptocurrencies, though this has not yet been confirmed by Amazon itself.
Will Bitcoin Go Up Again
Because Bitcoin is so powerful and has so much potential, Bitcoin’s projected value and estimated growth could be astronomical. Speculation from crypto analysts and industry experts suggests that Bitcoin’s long-term value could reach over $100,000 to as much as one million dollars per BTC in the future.
Bitcoin Predictions 2021
Bitcoin price has crashed by more than 50% but according to the parabolic curve on long-term timeframes, the rally might not be over yet. If Bitcoin’s bull run is over, expect another more than 40% drop to match the measured length of the previous move down. However, if Bitcoin can reverse, it is still on track for more than $100,000 per coin in 2021.
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