Bitcoin Price Prediction: BTC To Surge To $1 Million
After a critical correction, Bitcoin seems to be back on track these days.
BTC rebounds from the September crash – BTC to hit $1 million
It seems that BTC found the strength to rebound from the September crash and now, the lawyer, entrepreneur, and cryptoanalyst Trace Mayer speculates that BTC’s next bulls could be enormous.
After falling from $10,426 to a low of $7,845 last month, BTC has climbed back above $8,500.
At the moment of writing this article, BTC is trading in the red on CMC, and the most important crypto out there is priced at $8,472.81.
In an interview with Preston Pysh, who is the host of the We Study Billionaires podcast, Mayer has a mind-blowing BTC price prediction and says that BTC could reach a massive figure of $1 million.
Reason for the enormous potential surge
“We’re in the Information Age now. Stuff can happen like that. We could wake up tomorrow, and Bitcoin could be a million dollars a coin,” he said.
He continued and explained, “That’s how fast this could happen. Will it happen that fast? I think that’s highly improbable. But it could. And that’s why you have to have some Bitcoin to be hedged against it, just in case it catches on.”
He said that there are many reasons for which Bitcoin is not correlated to other digital assets, and this is the very reason for which the most important crypto in the market could boost its price straight to the moon.
Mayer says that such a great wealth transfer would be coming from all of those other assets to the holders of Bitcoin, as reported by the online publicaiton, the Daily Hodl.
You should check out the original article in order to find out more details.
In other Bitcoin-related news, according to the head of trading strategy at Galaxy Digital, Josh Lim, there is increased interest in the crypto space, and this means that the wave of enthusiasm is coming back.
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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.