$1 Mln Bitcoin Price Prediction Made by Hedge Fund Manager James Altucher Has Four Days Left

Fri, 12/27/2019 - 17:55
Alex Dovbnya
The price of Bitcoin needs to surge 13,788 percent in four days for James Altucher's prediction to come into fruition
Cover image via U.Today

White digressing from new records set by the US stock market, CNBC's Carl Quintanilla took a jab at the Bitcoin price prediction made by hedge fund manager James Altucher. 

Quintanilla jokingly tweeted that Altucher had four more days for his forecast to materialize. 

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A different timeframe 

In late 2017, Altucher made headlines after telling CNBC that Bitcoin could go up to $1 mln by 2020. The stalwart libertarian made such an astonishing prediction when BTC was sitting at around $11,000, nearing the peak of its historic rally.   

“There’s 15 million millionaires around the world. All their financial advisors are going to say, ‘Hey, buy a bitcoin. You need some exposure.’”     

Altucher was deterred by Bitcoin's steep fall. In his recent Kitco interview, Altucher confirmed that his $1 mln prediction was relevant but he pushed the deadline a few years later.

"Will it be a million dollars in 2020? Maybe. Will it be 2021? 2022? Who knows."    

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A moonshot to $1 mln

Bitcoin is not the only believer in a million-dollar Bitcoin. As reported by U.Today, cybersecurity pioneer John McAfee was certain that the BTC price would hit $1 mln by Dec. 31, 2020. 

Self-proclaimed Satoshi Craig Wright recently slammed such ultra-bullish predictions by saying that there wouldn't be enough money globally to push Bitcoin to such a high price.  

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.

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