Bitcoin’s parabolic rally is just beginning, said DeVere CEO Nigel Green.
The founder of Quantum Economics, Mati Greenspan, is of the same opinion.
According to Nigel Green, founder and CEO of the Dubai-based financial consulting company deVere Group, Bitcoin in 2021 could grow by one and a half, if not twice.
Based on current values, Green expects BTC to reach levels between $ 34,500 and $ 46,000 next year, news.crypto.pro writes.
The influx of institutional investors will lead to a surge in consumer interest, creating the perfect storm to hit new price levels, Greene said.
“Some of the world’s largest institutions (including multinational payment companies and Wall Street giants) are increasingly investing in cryptocurrency, bringing with them their vast experience and capital, which, in turn, increases consumer interest,” noted he.
Institutional demand has been the main catalyst for the Bitcoin bull market and one of the main reasons the current uptrend is markedly different from the explosive growth of 2017. Another important fact is the use of bitcoin as a hedge against inflation and macroeconomic uncertainty.
Quantum Economics founder Mati Greenspan believes that the Bitcoin rally has just begun, and that the market isn’t necessarily heading for a crash like the one that happened in December 2017.
“If demand continues to rise and supply continues to decline, there is a definite possibility that at some point we may see growth of 250% or more,” Greenspan said.
He also does not rule out the correctness of the statement of the manager of Guggenheim Partners, who believes that BTC should be worth about $ 400,000.
“Now that we have passed the previous all-time highs, there are no levels left on the chart that could indicate the point where the price limit was reached. However, at some point the price of BTC will reach such a limit, ”Greenspan said.
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