The Controversial $100k Bitcoin Prediction Explained
The crypto market has been shaken to the core during the past few days, and the main reason is the global disaster triggered by the coronavirus pandemic.
WHO declared the coronavirus outbreak a pandemic a few days ago, and ever since, all hell broke loose. The markets fell pretty badly, and the crypto market is no exception.
Despite the massive volatility in the crypto market these days, there are various optimistic predictions that keep popping up.
The $100k prediction explained
For instance, one of the most famous ones is the prediction claiming that by the end of 2021, BTC will reach $100k.
According to the online publication, the Daily Hodl, Morgan Creek Digital’s Anthony Pompliano released the latest episode of the Off the Chain podcast – the deep dive with Bitcoin analyst PlanB.
He managed to have a lot of Twitter followers by predicting the volatile price movements of BTC using the S2F model.
He addressed the BTC halving which is scheduled for this May and he said that the model shows that Bitcoin is right on track to hit $100k by 2021.
Bitcoin is still seen as a safe haven
Despite the rollercoaster ride, he says that BTC is seen as a safe haven.
PlanB also said that he and his colleagues who worked in banking back in 2008 were not at all surprised by the failures that triggered the global financial crisis.
“What was a surprise was what the central banks did after that: the quantitative easing that started and the very low and even negative interest rates in Europe,” he said.
He continued and explained, “I experienced that from my job on a day-to-day basis. But it also made me question the system. And it also made me look for hedges and alternatives – plan Bs, if you will — for the assets that we had on the balance sheet. That’s how I came across Bitcoin.”
We recommend that you head over to the original article by the Daily Hodl in order to learn more details.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.