The highest bullish Bitcoin price predictions have come from such persons as John McAfee ($1 mln), and Tim Draper ($250,000 minimum). Both have stood by their predictions for a few years already.
In the recent interview to U.Today, the former antivirus mogul McAfee confirmed his more than optimistic forecast, saying that Bitcoin is the first deflationary coin and that he is surprised that nobody has noticed it yet.
Another large bullish prediction on the Bitcoin price has come from a trader and analyst on Crypto Twitter.
‘Bitcoin price may hit $120,000 in 2022’
The analyst ‘CryptoWolf’ (@IamCryptoWolf) believes that Bitcoin is about to enter a new bull cycle. It may lead the BTC price to surge by 2022 and hit an astronomic level of $120,000.
Bull cycles for Bitcoin are getting longer, the analyst writes, predicting the ‘estimated time of arrival’ to be 2022.
Bitcoin Analysis.— CryptoWolf (@IamCryptoWolf) November 27, 2019
- Bull cycles are getting longer.
- ROI since bottom are decreasing.
Conclusion of cycle IV:
Next top: ~ 1400 days since bottom. ETA December 2022
ROI: ~40X since bottom, ~120k $. pic.twitter.com/vN8LuRGlLM
Upbit hack pushes the BTC price up
On Wednesday, the most hyped event was the hack of the Upbit crypto exchange in South Korea. Some experts believe that it was an inside job than an outside hack. Since the hack briefly coincided with Bitcoin sliding down to the $6,700 area, some started blaming that on the loss of $50 mln in Ether by Upbit.
However, later on, Bitcoin made a U-turn and surged to $7,200, adding $500 to its price. A crypto expert and blockchain writer Joseph Young wrote on his Twitter page that the hack was unlikely to push the BTC price down, since the management team promised to compensate the losses.
Bitcoin pumps to $7,300 https://t.co/61IHRQBrIE— Joseph Young (@iamjosephyoung) November 27, 2019
Still, many on Twitter responded to the event with criticism, saying a popular phrase regarding centralized crypto exchanges – ‘Not your keys, not your Bitcoin’.
eToro’s expert’s take
In a daily newsletter sent out by eToro, their analyst Adam Vettese states that perhaps the recent successful BTC futures trading on Bakkt and the interest of institutional investors that grows towards this platform gradually, will be able to give Bitcoin enough momentum in the future.
“Bitcoin futures exchange, Bakkt, reached a record number of contracts traded yesterday - 4,443 contracts, approximately $33 million at current Bitcoin prices. With institutional interest in Bakkt increasing month on month, bucking the overall market sentiment in Bitcoin, could this spark a resurgence in crypto spot markets?”