Tom Fitzpatrick: “Bitcoin will pass $ 300,000”
Citibank manager Tom Fitzpatrick believes that by 2021 Bitcoin will pass $ 300,000. A pretty encouraging prediction. Tom Fitzpatrick managing director of Citibank bank, indicated that the price of Bitcoin may reach 318 thousand dollars by next year. Due to the economic uncertainty and comparing it with the gold market for the 70s.
In particular, Tom Fitzpatrick based his prediction that Bitcoin would hit $ 318,000 on an analysis of highs and lows from the previous market. Compared to the performance of gold in the early 1970s.
Tom Fitzpatrick says Bitcoin will hit $ 318,000
Admittedly, it is not Fitzpatrick’s first price calculation. As Larry Cermak, a cryptocurrency industry researcher, noted, Fitzpatrick has made questionable price calculations in the past. For example, in 2013, the executive claimed that gold was heading for $ 3,500.
In effect, through a report intended for institutional clients of Citibank MD. Fitzpatrick compared Bitcoin’s first big bull run, between 2010 and 2011, to the rise of the price of gold in the 1970s.
In the ‘Bitcoin: 21st Century Gold’ report, leaked on Twitter on November 13, Fitzpatrick valued the shortage of Bitcoin (BTC). Especially ensuring that we are in a digital age. Argued that “gold is an asset of the 21st century.”
In the same way, Tom Fitzpatrick considered important the ability to easily transfer value around the world, of those who own Bitcoin. That is, the certain degree of privacy of Bitcoin is seen as part of its value.
The Citibank report
For its part, the Citibank analysis contains a prediction about the price for next year. Which establishes that we could see a new record for the price of Bitcoin in 2021. Specifically, according to Tom Fitzpatrick’s estimates, by December 2021, the price of Bitcoin would be exceeding $ 318,000.
Questioning the report
There are those in the environment, they discuss the Citibank report. Specifically, by positions of the same bank with respect to Bitcoin in the past. In this regard, the account @CryptoWhale wrote: «That the big banks become bullish on Bitcoin, you should be concerned. Therefore, they have ulterior motives.
However, most of the comments on Twitter focus on Tom Fitzpatrick’s price prediction. Hopefully he is right.
To conclude, I leave you with this quote from Niels Bohr: «Making predictions is very difficult. Especially when it comes to the future.
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.