John McAfee predicts a BTC price of one Million USD in the next few years. These and other projections cause a bullish mood, so Antoni Trenchev.
Co-founder and managing partner of crypto-Lending platform Nexo says that Bitcoin could reach this year $ 50,000 or more – an increase of 580% from its current price of 7.391 dollars. In a new Interview on Bloomberg TV, Antoni Trenchev says that his Team believes that the Halving, that is to take place in about four months, will be the catalyst.
I think that we could very easily see how Bitcoin can rise up to the end of this year to $ 50,000. Our analysts, in Nexo-check the Numbers and carry out extensive investigations. And it’s just a hell of a ride.
The halving is because the reward for miners is reduced. The last Time this happened, has denied Bitcoin 4.000% the course. And it was an incredible gain. It stands in no relation to the overall market. It provides a systematic, asymmetric returns.
Trenchev said that he believes that the development of Bitcoin in the last few years. Instead of the new Form of cash, he says that BTC is designed as a digital Form of Gold.
The original idea was that we would pay with Bitcoin coffee, but obviously that has not happened. I think the narrative that is now much more convincing, is that Bitcoin is the new Gold. And we see confirmation of how the turbulence this Morning that Bitcoin is on a par with Gold. And if Bitcoin is the new Gold and it is only 10% of the total Market cap of Gold is 8 trillion or $ 9 trillion, is reached, then Bitcoin will be at $ 50,000.
Gold proponent and Bitcoin critic Peter Schiff says that the leading crypto-currency has no Chance to compete with Gold as a safe haven, despite the increase in both assets on Friday after the rocket attack from President Trump in Iran.
Increased geopolitical risks have led to both Gold and Bitcoin will move higher, but for different reasons. Gold is bought by investors as a safe haven. Bitcoin is bought by speculators, who bet that investors will buy it as a safe haven.
A recent report by Charles Schwab found out that the Millennials are the primary demographic of interest in digital Assets. He found that Millennials decide to buy gray scales Bitcoin Trust, which is fully supported by BTC, instead of shares of Microsoft, Walt Disney, Netflix, or Warren Buffett’s Berkshire Hathaway. These developments show that Bitcoin is, above all, young people are popular. It remains to be seen which direction Bitcoin will develop.
Featured Image: Wit Olszweski | Shutterstock