Bitcoin (BTC) Has Massive Potential To Hit $300,000, Says Peter Brandt
The Bitcoin-related price predictions seem to be intensifying these days after the most important coin in the market surged so much.
Since April, BTC surged a lot, and it’s currently trading in the red on CoinMarketCap. It’s priced at $7,898.57.
To be more precise, since the beginning of April this year, the most important coin in the crypto market was able to surge from $4,200 to a new peak for this year of $8,350.
This was a gain of 100%, and it seems that the coin is now gearing up for another surge.
Peter Brandt says BTC can hit $300k
Now, the strategist whose popularity surged to the moon after he called Bitcoin’s crash back in January 2018 said that he believes investing in BTC is now a no-brainer with massive upside for smart traders.
The Daily Hodl reported that Peter Brandt told BLOCKTV Bitcoin has a 50% chance of total failure and a 50% chance of entering a new parabolic rise that could bring the price of BTC from $50,000 to $300,000.
“I think were going to $50,000, but I don’t know when. Here’s how I look at it: I’m a gambler. And I don’t know anything about BTC. But I don’t have to know anything about football to bet on the New England Patriots. I could be a rugby player and bet on that,” he said.
He continued and explained, “And so I look at Bitcoin, and I say there’s a 50% chance it goes to 0 – it becomes worthless – that the whole narrative is a big scam. But there’s a 50% chance we could go parabolic again. And if we go parabolic again, we can go up to $300,000.”
Brandt also said that it’s a no-brain decision from a trader’s point of view because it’s an asymmetrical trade.
He said that if you manage the trade correctly, there’s a relatively low downside risk.
CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.