Bitcoin (BTC) Can Reach $300,000, but Here's What'll Come First: Top Analyst
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Major cryptocurrency trader and analyst Michael van de Poppe has published a new Bitcoin prediction with a target that has surpassed the recent target named by Max Keiser.
"Likely price value of $300,000-$600,000" for Bitcoin
Poppe's prediction has it that the flagship cryptocurrency, Bitcoin, is likely to reach jaw-dropping price levels of $300,000-$600,000. This is down to the growing interest from numerous financial institutions triggered by the recent launch of spot-based Bitcoin ETFs. But before that, he expects several major corrections.
At the time of this writing, the leading cryptocurrency is changing hands at $51,086 as Bitcoin has put up a slight recovery after a 2.77% decline, which finished today. Overall, BTC has lost 3.32% since its peak above $52,000 reached on Tuesday, Feb. 20.
So far, Bitcoin is mostly scooped up by those less-than-a-dozen Bitcoin ETF providers, which include BlackRock, Fidelity, VanEck and Ark Invest. They all have been buying a massive amount of Bitcoin daily — 12.5x of what miners are producing per day (900 BTC in total, earning 6.25 BTC for each new block). As for Grayscale, this fund managing company continues selling Bitcoin so far, instead of buying it.
As reported by U.Today, on Friday, Feb. 23, Fidelity surpassed eight ETFs by the amount of daily inflows. This time, it even managed to beat BlackRock, which usually was the leader in daily Bitcoin purchases after the ETFs launched.
On Feb. 23, Fidelity Wise Origin Bitcoin Fund accumulated 3,061 BTC evaluated at $156 million. BlackRock came second this time with 2,415 BTC purchased on that day — the equivalent of $123.3 million.
Yuri MolchanBitcoin heading for $500,000: Max Keiser
Renowned Bitcoin maximalist Max Keiser has predicted the $500,000 target for Bitcoin — that is more that 2x higher than his previous long-term goal of $220,000. This time, Keiser stated he expects “the global fiat money apocalypse” coming soon.
Keiser has named the same Bitcoin price target in his tweets earlier this week. In them, he predicted a 1987-style stock market crash approaching the U.S.
Many other experts, among them angel investor Anthony Pompliano, are stating that the stock market is currently peaking. Pompliano even noticed that Jeff Bezos, Bill Gates and many U.S. politicians were selling their stocks in large quantities as if they know something.
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