Ever since bitcoin more than doubled its previous $ 20.000 record set in 2017, the digital asset has proven it can reach unimaginable levels. One of the most talked about is whether it could go up to $ 1 million.
Many people, mostly world famous, have said that bitcoin can reach this level. Now, one of the best analysts in the world and veteran of trading, Peter Brandt, has given his opinion on the possibility of Bitcoin reaching $ 1 million.
What the popular analyst thinks
In a tweet, the analyst said that in his opinion, the chances are 50/50. However, according to him, there is therefore also a 50% chance that bitcoin will return to zero value. Brandt has 46 years of experience in the trading world and says there have never been any assets as exciting as Bitcoin.
Furthermore, the analyst says that excluding the real estate market, bitcoin is the largest asset one tends to hold. Despite this, he also claims that bitcoin is still part of a trading market, just like other popular assets.
In the comments, responding to what his followers asked him, Brandt said there is a good chance that one of the two predictions will come true. So, either bitcoin will reach $ 1 million or it will be worth zero.
At the time we publish this news, bitcoin is hovering around $ 50 (here the quotation in real time) and therefore both forecasts seem exorbitant. At the moment, given the institutional interest that bitcoin is attracting, we think it is unlikely to return to 20 thousand dollars. Furthermore, the US continues to saturate the dollar. Just a few days ago, the United States Senate passed the $ 1,9 trillion relief bill. These are some of the reasons that guarantee that Bitcoin will never return to zero value again.
Bitcoin exceeds 100 thousand dollars in 2021
It is difficult to make exact predictions on bitcoin, but for most of the community, it all depends on where the asset will be at the end of the year. Optimistic forecasts, they price it at 100 thousand dollars, double its current level.
If it achieves this, it could even rise to $ 1 million. Why? If from the average price of 7 thousand dollars in 2020 at the end of 2021 it can reach 100 thousand, then it can very well repeat the same path and touch 1 million.
Recently, CEO of the US-based Kraken exchange, Jesse Powell, said it's reasonable to expect bitcoin to hit $ 1 million.
Willy Woo, an analyst at Onchain, also pointed out that in recent months thanks to this bullish rally, it is not entirely unlikely that bitcoin will reach 1 million dollars. Adding that the possibility that it could reach $ 100 this year is more than concrete.