The first quarter of 2020 has been crazy with coronavirus pandemic urging people to quarantine themselves and watch the world out. However, little did we know that it creates and boosts the awareness of digital forms of money, such as Bitcoin.
That being said, some prominent crypto personalities believe Bitcoin will attain a $500K mark and some believe bitcoin trading volume will become One Trillion Dollar in the coming days.
Surprised!!! Let’s dive into it and understand how.!
Bitcoin and many altcoins are struggling to rise above the threshold. We saw Bitcoin raising to its highest, above $10,000 but just for a couple of hours and slipped within no time. Bitcoin price saw less fluctuation this week with price sitting at the mark of $9200.
Max Keiser Predicts Bitcoin at $500k
Max Keiser’s recent price prediction of Bitcoin is one of the most bullish ones that made headlines this week. In the latest episode of ‘Max Keiser Report’ TV show, popular American broadcaster and crypto proponent, Mr.Keirse predicted that Bitcoin could reach $500K.
Here’s Why he bets high on it!
The reasons presented by him are very interesting!! In his opinion, the United States would start the giant hash rate war with Iran and Venezuela, and therefore, bitcoin price will plunge to $400K-$500K. The crux of the matter is that Tehran, the capital of Iran controls 3 percent of the bitcoin hash rate and Venezuela will quickly manage to control 3 to 5 percent. Henceforth, the United States will be forced to squeeze BTC.
” And then at some point, America will say, ‘We’ve got to enter the 21st-century space race of mining Bitcoin’, and then try to seek 20% of the hash rate, and then security goes up dramatically, and the price goes to $400,000 – $500,000, said Mr.Keiser.
S2F Model Predicts Bitcoin Price Accurately-Analyst PlanB
The S2F model considers BTC as a commodity like gold or silver. It considers the existing supply of the cryptocurrency and the mined cryptocurrency and predicts the BTC price. According to this model, the BTC price might hit $100,000 by the end of 2021.
Mysterious Bitcoin analyst PlanB considering the S2F model predicts one hundred trillion dollars BTC trading volume in the coming days. Consequently, he has also shared a chart on twitter
indicating a major bull run!!
This time, the chart had a new Red Dot indicating Bitcoin’s block rewards were cut into half post two months of halving events.
However, the prediction faced negative reviews. Crypto quant fund Strix Leviathan’s CIO, Nico Cordeiro also questioned the model and its basis of prediction. He went on telling that S2F has failed for gold for 100 years and hence it’s just a telling tale rather.
In contrast, Max Keiser felt that S2F for BTC arguments are done to gain attention.
Bitcoin price has been one of the obsessions of the crypto industry for many years. In fact, Google trends witnessed a number of searches for ‘next bitcoin bull run’. If experts predict a bull run is coming, the question is when?
As per the reports on the web, the movement of bitcoin price depends on many reasons which in turn are dependent on several other factors such as any positive development in country’s laws or taxes, or a decline in market activities using fiat currencies, etc. in such case, Bitcoin demand increases, and prices too may plunge.
Finally, considering the present scenario around, what do you think, which Bitcoin Price Prediction might be accurate?
Do you think Bitcoin will reach $500,000 or at least come near to it?
Luke has had a long interest in financial technology, especially cryptocurrency and blockchain. With a Bachelors degree in Journalism and Media, Luke is dedicating his writing skills for the digital currency sphere.He can be contacted at firstname.lastname@example.org