New Mind-Blowing Bitcoin Prediction: BTC To Reach $5 Million
There are all kinds of optimistic predictions regarding the price of Bitcoin lately, despite the market volatility. But the latest one seems to be a bit far-fetched, to say the least.
Today, the crypto market looks pretty bloody, with the most important coins trading in the red.
At the moment of writing this article, Bitcoin is also trading in the red, and the king coin is priced at $10,614.37.
Bitcoin to hit $5 million
Here’s one of the most bullish BTC predictions that we’ve seen lately. It comes from a popular Bitcoin analyst and influencer – he said that the king coin could reach $5 million!
The online publication the Daily Hodl notes that the pseudonymous analyst, known in the industry as Carl the Moon, said in a new interview that this extremely bold prediction depends on the future of fiat money.
“If you look at the currency supply of the world, it is currently valued at $100 trillion. If Bitcoin takes over this whole pool of liquidity, this fiat money pool, then this means that Bitcoin could potentially take over this market cap and that would put Bitcoin at approximately $5 million per Bitcoin,” he said, as cited by the online publication mentioned above.
The current economic landscape is favorable for Bitcoin
Carl also made sure to highlight the fact that he believes that the current economic landscape is pretty favorable for Bitcoin.
“I think it’s obvious that Bitcoin is eventually going to break $20,000. We’re seeing central banks printing currency like never before,” he said.
He continued and explained that “what we’re seeing is [an] historical amount of currency printing, this is the exact scenario that Bitcoin was created for. Fundamentally, Bitcoin is looking extremely bullish, much more bullish than on a technical level.”
He’s definitely bullish on Bitcoin, but at the same time, he pointed out the fact that a lot of people will lose money trying to time Bitcoin’s price action.
He concluded by saying that BTC will continue to remain the best performing asset this decade.
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.