The previous chief of the analyst group at crypto analytics agency Glassnode predicts that Bitcoin (BTC) will hit six figures this cycle.
In a brand new interview on the Blue Collar Bitcoin YouTube channel, James Test says that Bitcoin may rise greater than 120% from its present worth.
He additionally believes that Bitcoin’s market cap will in the end hit gold’s market cap in future cycles.
“If we imagine that Bitcoin is aggressive with gold, what number of gold bars are there per Bitcoin at terminal velocity? And it’s about 10.8 kilograms. So what’s the value goal for [Bitcoin]? Effectively, it’s not less than 10.8 kilograms of gold and in the event you work out that math, it’s like $1.2 million Australian {dollars} ($803,034 USD). So by way of truthful worth, that’s the place we’re headed. That’s the street that we’re going to go.
Now, on this cycle it very a lot relies upon, in fact, the place we’re in the intervening time. There’s lots of people who’ve regarded and gone it appears to be like prefer it may very well be a cycle high and yeah, there’s been a few issues however on the identical time once I actually unpick what’s happening below the floor I feel it’s very, very wholesome up right here. It appears like we’re really pouring a basis for the following transfer.
So actually, stepping into the $100,000s I feel might be a really possible situation. Getting up into the $250,000s I feel it’s not unbelievable – 30% odds. In order that’s sort of the ballpark. I might be very stunned if we capped out earlier than $100,000. I feel $150,000 occurs as a result of the dimensions of Bitcoin at that cut-off date continues to be insignificant. And the opposite factor is 10.8 kilograms of gold, gold’s going up as properly.”
Bitcoin is buying and selling for $68,076 at time of writing, up barely within the final 24 hours.
Do not Miss a Beat – Subscribe to get e mail alerts delivered on to your inbox
Test Value Motion
Comply with us on X, Fb and Telegram
Surf The Every day Hodl Combine
 
Disclaimer: Opinions expressed at The Every day Hodl should not funding recommendation. Traders ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital property. Please be suggested that your transfers and trades are at your personal threat, and any losses chances are you’ll incur are your duty. The Every day Hodl doesn’t advocate the shopping for or promoting of any cryptocurrencies or digital property, neither is The Every day Hodl an funding advisor. Please be aware that The Every day Hodl participates in online marketing.
Generated Picture: Midjourney
