There are all kinds of crypto price predictions these days and most of them are still bullish, despite the drop in prices of digital assets. Check out the latest BTC price prediction that’s been revealed by the online publication the Daily Hodl.
It’s been revealed that the chief executive of crypto consulting firm Parallax Digital is predicting the massive expansion of the US dollar supply in the next ten years, which he says will ignite Bitcoin’s meteoric rise to $12.5 million.
Bitcoin to hit $12.5 million
In a new interview with Kitco NEWS, Robert Breedlove talked about Bitcoin’s volatility after the king coin plunged over 50% from its all-time high in a matter of days.
“Volatility is a natural function of price discovery and it tends to contract as the market cap expands so that’s inversely proportionate to market cap. We’ve seen that pattern play out with Bitcoin that its volatility is actually contracting. As a store of value, it really comes down to how you define a store of value. So Bitcoin is an asset that’s monetizing in real-time… It’s competing for a $250 trillion marketplace, which is global store of value. So it’s very nascent relative to its total addressable market…” he said.
He continued and said: “Historically, gold was the technology which best satisfied the store of value property… Bitcoin offers us something radically new. It’s a money premised on perfect information. If I hold one million Bitcoin, I have one million of 21 million of possible [BTC] forever. No one can change that again. So it’s perfect inelasticity of supply and that is the property that market actors seek in a store of value.”
We suggest that you check out the complete original article posted by the Daily Hodl in order to learn more details. At the moment of writing this article, BTC is trading in the green and the king coin is priced at $34,291.21.