A Bitcoin analyst predicts a price of $ 100,000 for this bull cycle, and $ 1 million by 2035
Bitcoin can break its all-time high of $ 20,000 in just a few weeks, says Alex Saunders, while Ether only takes a year to break its own record.
Bitcoin (BTC) can hit $ 100,000 in five years and $ 1 million in 2035, Nugget News CEO Alex Saunders has told Cointelegraph.
In an interview on Nov. 18 with Michaël van de Poppe, a market analyst at Cointelegraph, Saunders described current conditions as a “perfect backdrop” for further rises.
Saunders: Bitcoin will hit $ 1 million by 2035
“It’s going to be like it is in the next few weeks and it will hit $ 20,000 very quickly, or it’s going to have its share of scope now and then hopefully it’s positive until next year,” he said.
Saunders spoke as BTC / USD broke out of the recent rises of $ 18,400 to move in a wide corridor, which has focused on $ 17,700. The gains have been quick, with a weekly yield of up to 15%.
Looking ahead, Saunders believed that Bitcoin was far from the six or seven figures, but that a combination of money and adoption meant that there was now “no alternative.”
“I honestly think Bitcoin will hit $ 100,000 in the next five years, and then it will turn into, ‘Well, are you really trying to ban it, or how do you regulate and trade it?'” He told Van de Poppe.
“And if it is allowed to continue its mission and absorb all the money from around the world and become a global reserve currency … I think we can hit $ 1 million per coin in the next, I don’t know, 15 years.”
The estimates appear somewhat conservative compared to some existing price forecasts, including the popular series based on the stock-to-flow ratio, which predicts at least $ 100,000 for the next year.
Saunders’ concerns about legality in the event of large price hikes echo those of large investor Ray Dalio, whose comments on Bitcoin earned him significant publicity this week.
Is it Ether’s turn to see transformative gains?
In terms of the biggest altcoin, Ether (ETH), for its part, the forecast is even better. Saunders sees a strong possibility that the new all-time highs for ETH / USD are a year away, or less.
Given current performance, that would require nearly a 200% increase from press levels of $ 470.
Ether, like most altcoins, has failed to copy the recent advances of Bitcoin, despite the deployment of the long-awaited Ethereum 2.0 and its corresponding roadmap, which will transform the network.
Nonetheless, Van de Poppe agrees that the future is probably bright for Ether; think that the next bull run will be an order of magnitude above the peak of the previous one.
“The next all-time high cycle for ETH will likely be between $ 10,000-20,000,” his Twitter followers told them on Wednesday.
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