Bitcoin

A Bitcoin analyst predicts a price of $ 100,000 for this bull cycle and $ 1 million by 2035

Bitcoin (BTC) can reach $ 100,000 in five years and $ 1 million in 2035. Alex Saunders, CEO of Nugget News, told Cointelegraph.

In an interview on November 18 with Michaël van de Poppe, a market analyst at Cointelegraph, Saunders described the current conditions as the “perfect backdrop” for further climbs.

Saunders: Bitcoin will reach $ 1 million by 2035

A Bitcoin analyst predicts a price of $ 100,000 for this bull cycle and $ 1 million by 2035
A Bitcoin analyst predicts a price of $ 100,000 for this bull cycle and $ 1 million by 2035

“”It’s going to go on like this for the next few weeks, reaching $ 20,000 very quickly. or it will have some range every now and then, hopefully by next year it will be positive, “he said.

Saunders spoke as BTC / USD broke out of the recent spikes of $ 18,400 to move within a broad corridor that has been centered at $ 17,700. Profits were quick with a weekly return of up to 15%.

Look into the future Saunders believed that Bitcoin was far from the six or seven numbers, but that a combination of money and adoption meant that there was now “no alternative”.

“Honest I think Bitcoin will hit $ 100,000 in the next five yearsand then it will be, “Well, are you really trying to ban it, or how do you regulate and market it?” he said to Van de Poppe.

“And if it is allowed to go ahead with its mission and borrow all the money from around the world and become a global reserve currency … I think we can reach $ 1 million a coin in the next 15 years, I don’t know.”

The estimates seem a bit conservative when compared to some existing price predictions, including the popular series based on them the stock-to-flow ratio that predicts at least $ 100,000 for the next year.

Saunders’s concerns about the legality of large price hikes are in line with those of major investor Ray Dalio, whose comments on Bitcoin earned him significant notoriety this week.

Is it up to Ether to see transformative gains?

As for the largest altcoin, ether (ETH), the forecast is even better. Saunders sees a strong possibility that the new all-time highs for ETH / USD are a year or less away.

Bitcoin and Ether YTD performance. Source: Cointelegraph Markets / Digital Assets Data

Given the current performance, this would require an increase of almost 200% from press levels of $ 470.

Like most altcoins, Ether failed to copy recent Bitcoin advances despite the introduction of the long-awaited Ethereum 2.0 and the corresponding roadmap that will transform the network.

However, Van de Poppe agrees that the future for Ether is likely to be bright; I think the next bull run will be an order of magnitude above the peak of the previous one.

“”The next all-time high cycle for ETH is expected to be between $ 10,000 and $ 20,000 “” said his Twitter followers on Wednesday.

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