Bitcoin To Hit $1 Million, Crypto Analyst Says – But When?
There have been all kinds of optimistic predictions about the price of BTC, but one recent one drew our attention.
It’s been just revealed that crypto analyst and influencer Alex Saunders said that he believes Bitcoin is heading toward the $1 million mark, but this journey will definitely take a while.
Bitcoin to hit $100k in the next five years
During a new interview with Stansberry Research, Saunders said that BTC is on track to shatter $100,000 in the next five years.
After that, he believes Bitcoin will race to $1 million, but the outcome will depend on how governments will deal with the coin.
“I honestly think now, if you look at the market cap and you look at the trillions of dollars that are being printed by the month these days, I definitely think we’re going to hit $100,000 in the next five years,” he said.
Bitcoin to hit $1 million in the next one/two decades
He continued and said: “And then it becomes about how governments and central banks react. Are they really going to go hard and try and shut this down or are they going to have to leave it there as a sort of neutral, open competitor that’s going to make them more fiscally and financially responsible?”
Saunders noted that “Depending on how that plays out, I think we can get to $1 million in the next 10 or 20 years simply because it is going to grow to compete with gold and forex and just capture anything that’s previously been a store of value. Why wouldn’t you now park that in Bitcoin?”
Saunders said that he doesn’t see BTC as a tool to get rich quick and noted that people invest in the king coin much too late.
At the moment of writing this article, BTC is trading in the green, and the coin is priced at $18,217.12.
CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.