Tron CEO: Bitcoin price will exceed 100,000 US dollars in 2025 and help other currencies. James Todaro: Bitcoin rally could last 1,000 days
Justin Sun, founder and CEO of Tron (TRX), the fifteenth largest cryptocurrency by market capitalization, is investing in a series of cryptocurrencies other than Bitcoin (BTC).
In an interview on February 23 with CNN, the CEO of Tron said he is a long-term believer in cryptocurrencies and that he has a stake in many alternative currencies, including the two largest currencies after Bitcoin: Ether (ETH) and XRP
Tron CEO predicts that Bitcoin will cross the USD 100,000 mark in 2025
When asked if Sun has its diversified cryptocurrency portfolio, Tron’s CEO responded: “I also have many XRP and Ethereum. I am a long-term cryptocurrency believer, so I want all crypto assets to succeed. That’s why I also have many different crypts. “
As a big believer in cryptocurrencies, Sun is optimistic about the price of cryptocurrencies and trusts that cryptos like Bitcoin are the future of money. In the interview, the CEO of Tron predicted that Bitcoin will cross the USD 100,000 mark in 2025, emphasizing that other cryptocurrencies will follow the trend.
Justin Sun’s USD 100,000 Bitcoin prediction in his own words: “I definitely believe that Bitcoin will spend USD 100K in 2025. I think we can reach this price before 2025. At the same time, I think many other cryptocurrency projects like Tron , Ethereum and XRP will also see the bull market. “
The CEO of Tron only uses fiat money in daily life.
Aligned with his bullish stance on cryptocurrencies, Justin Sun de Tron said in the interview that he invests all his money in crypto. However, Sun still converts its cryptocurrencies into fiat currencies such as the United States dollar. In the interview, the CEO of Tron said he only withdraws fiat from crypto when he needs to spend money on his daily life.
Justin Sun says Warren Buffett is “very open” to blockchain and cryptos
The news comes about a month after Sun had lunch with the president of Berkshire Hathaway and the well-known Bitcoin critic Warren Buffett. On January 23, the CEO of Tron met with Buffett to finally have a long-awaited lunch after postponing the event for medical reasons earlier in 2019.
In the last interview, the CEO of Tron revealed that he did not exactly try to convince the famous billionaire investor that cryptocurrencies will emerge greatly in the coming years. Instead, Justin Sun was trying to explain to Buffett some crypto potentials, as he wanted him to understand the basic fundamentals of blockchain and cryptocurrencies, such as instant crypto transactions.
Buffet hits the crypts again
The CEO of Tron also stressed that Buffett was “very open” to new technologies such as blockchain and cryptos, and noted that the well-known investor accepted Bitcoin and TRX from him. However, Buffett has claimed that he does not own any cryptocurrency and that he does not plan to invest in any cryptocurrency in a February 24 interview with CNBC. In the interview, the billionaire investor reiterated his negative stance on cryptocurrencies, arguing that cryptos have a “zero” value and produce nothing.
In another CNBC interview in 2018, Buffet predicted that cryptocurrencies will reach a “bad end”, stating that Bitcoin is “probably square rat poison
The Bitcoin rally could last 1,000 days
When the upside rally in the price of Bitcoin seems to enter a stalemate, a new analysis tells us that it could continue for 1000 days.
The beginning of the year has been one of the best to remember for Bitcoin. With a substantial increase in the price of the cryptoactive, which positioned its price around $ 10,000 once again. However, how long could this increase in crypto market prices last? According to some opinions, it could be maintained for up to 1,000 days.
The Bitcoin rally
The price of Bitcoin is always one of the most important issues for the crypto world. Well, the higher the price of BTC, the more interest is generated around cryptocurrencies and Blockchain technology. At the same time as the price of the world’s first crypto asset, it usually indicates the trend followed by the rest of the virtual currencies in its price.
Therefore, the bullish rally that BTC has experienced during the first weeks of the year has generally been good news for the crypto community. Boosting the good health of the markets, and the optimism in the future of cryptocurrencies in general.
This price increase has been driven by three simultaneous factors. The first being the proximity of halving in the Bitcoin Blockchain. A process that is expected to cause a significant increase in the price of the cryptocurrency. And therefore it generates upward pressure from now on, in preparation for that moment.
The second impulse is the terrible advance of the coronavirus, which threatens the stability of the world economy. What makes the world’s great investors, look for value reserve assets where they can protect their capital from any collapse in the markets. Bitcoin being an increasingly important option for these types of strategies.
Finally, of course, the same momentum of the price rally leads BTC traders to acquire more and more cryptocurrencies. Trying not to stay out of a possible new price increase. But simultaneously leading to an increase in the price of the cryptocurrency, by increasing its demand.
How long will the party last?
However, in recent days the decline in the price of Bitcoin has made market analysts wonder how sustainable this time rally is. And if it can be maintained until the halving gives a new momentum in the month of May.
Before which, the analyst James Todaro believes that it is not only possible to remain until then. But it is likely that the upward trend can be maintained for at least 1,000 days. According to the weighted average price by volume of the crypto market during these first months of 2020.
According to Todaro, the average volume-weighted price of Bitcoin has been $ 9,120. While during the bullish rally of 2017, even when the cryptocurrency was about to touch $ 20,000, this average price was just $ 6,125.
Therefore, Todaro would conclude that the bullish rally of 2020 has the potential to be much longer and deeper than that of 2017. An assumption against which there are arguments against, since observing the weighted price of Bitcoin during 2018, the same It was also superior to 2017, without any bullish rally. However, Todaro’s analysis is an interesting topic of debate, and that is why it is our Data of Today here at CriptoTendencia.
Reference: es.cointelegraph.com, criptotendencia.com
Disclaimer: This press release is for informational purposes information does not constitute investment advice or an offer to invest. The views expressed in this article are those of the author and do not necessarily represent the views of infocoin, and should not be attributed to, Infocoin.