According to the latest predictions, it seems that Bitcoin could reach $50k soon. Check out the latest reports below.
Bitcoin to reach $50k
Raoul Pal is updating his outlook on Bitcoin (BTC) after a massive rally amid US banking failures.
In a new Youtube interview with Anthony Pompliano, Pal predicted the fact that Bitcoin could increase by nearly 80% in under a year.
Pal said that he expects Bitcoin’s price will rise to as high as $50,000. He said that this would come from short selling squeezes, as people wrongly bet on the king crypto declining in value.
“A short squeeze happens when traders who shorted an asset decide to cut their losses in response to an unexpected price bump. The squeeze subsequently fuels more rallies,” according to the latest reports revealed by the online publication the Daily Hodl.
Pal also disagrees with a recent prediction by former Coinbase chief technology officer Balaji Srinivasan – just to refresh your memory, he said that BTC would hit $1 million in just 90 days.
“[Srinivasan’s] got 0.0 chance of being right. But what he is doing is spending a million bucks or two million bucks on marketing what is an important concept. And I think that’s fine. I get it. My general thesis is the market is going to be squeezier than people expect. So I think we probably get to $50,000 faster than most people expect. Is it this year? Is it within 12 months? Probably.”
Pal says he expects Bitcoin to ultimately reach six figures, but does not suggest when.
ETH prediciotn is also out
According to the latest reports, it seems that ETH could outperform BTC in the coming cycle. Check out the latest news below.
It’s been just revealed the fact that Real Vision CEO Raoul Pal says Ethereum’s (ETH) technicals and fundamentals suggest the second-largest cryptocurrency may massively outperform Bitcoin (BTC) in the coming cycle.