Bitcoin has been making a lot of headlines lately as the king coin has been managing to remain above $19k.
It’s safe to say that we already have strong support above $19k and more analysts are saying that the king coin is about to break $20 k soon.
At the moment of writing this article, BTC is trading in the red, and the coin is priced at $19,093.17.
This massive bull run that we witnessed in 2020 despite the global crisis is not like the one from 2017 – this is powered by healthier fundamentals, and institutional money is one factor.
New Bitcoin prediction surfaces
Real Vision CEO and Bitcoin bull Raoul Pal just revealed that a massive wall of institutional money that’s pouring into BTC would push the price to $300k in a year and a half.
During an interview on Kitco News, Pal said that institutional investors are waiting to get access to Bitcoin, which is now a “globally recognized brand,” and a “ridiculously well-performing asset.”
“Yesterday alone, I was speaking to the founder of one of the largest investment firms in America. Investment advisors alone have $5 trillion in assets, and he’s trying to get all of his advisors and advise all the others as soon as the ETF is launched to get up to 1% of assets. I mean, that’s $500 billion from the investment advisors alone,” he also said as quoted by the Daily Hodl.
Bitcoin to hit $300k in 18 months
He also noted that not all big financial institutions are really eager to jump on the Bitcoin wagon.
He expects banks to be the last ones to adopt the king coin, although other analysts don’t agree.
He said: “We’re going to be somewhere between $500,000 and a million dollars within five years, and we should be somewhere between $100,000 and $300,000 in the next 12 to 18 months.”