We could see Bitcoin enter a super cycle where everyone’s seen that graph of Bitcoin’s price – that log price graph, and you get a little boom bust, boom bust, boom bust. But what if (BTC) went a level step up on a log chart?If the world truly fears their money being devalued – every institution, every sovereign wealth fund, every central bank – if they all truly fear that, Bitcoin’s not going to stop at $100,000 or $300,000. It could go up to a million or two.
In an interview with Lark Davis for his YouTube channel, Dan Held made a prediction about the price of Bitcoin that many are likely to consider extremely bullish. Held is Director of Business Development at the exchange Kraken and said is preparing for a steady upward trend. Held spoke about the global financial crisis and the impact that the spread of COVID-19 has had on Bitcoin and the crypto market.
According to Held, Bitcoin has survived the worst, and has held up well. We’ve got a Halvening. We’ve got a huge macro backdrop where banks are literally printing a million dollars a second, which happened a few weeks ago with the US, the Fed and the Treasury. And so, there couldn’t be a better moment for Bitcoin than now. I’ve waited eight years to see this.
We’re seeing a scenario where there’s a literal infinite amount of fiat that will be printed, and there’s only 21 million Bitcoin. It’s hard to predict, but long-term, maybe late 2021, is when a lot of the models predict what we might see in historical cycles. The classic models show us at $80,000 to $300,000 per Bitcoin. We could see that. We could see something a little crazier. I call this the Bitcoin super cycle.
Author : Reynaldo