Explanation From The Popular Name: Is The $ 100,000 Bitcoin Prediction Realistic?
coinputin.com – Pierre Rochard, one of the cryptocurrency commentators, states that predictions that Bitcoin will reach a peak of about $ 100,000 in the next cycle are far from fundamental and unlikely.
Rochard, a Bitcoin strategist at the Kraken crypto exchange, told Altcoin Daily why he significantly underestimated the potential of six-figure predictions for BTC. Richard used the following statements:
“I don’t think this is realistic. I think this is very unlikely. 100,000 dollars, that’s five times more than where we are now, and if you look at the graph, it’s not really a parabolic peak… One of my theories is that this cycle will be longer than any of them. And therefore, it will take longer for us to reach the top. ”
With more and more institutional investors entering the market and legendary investors like Paul Tudor Jones and Stanley Druckenmiller buying BTC, Rochard says he expects a lot of money to enter the field in a bull cycle that could last up to three years. “Trying to allocate time to the market is futile for me because we’re talking about literally billions, tens of billions, hundreds of billions of dollars flowing into Bitcoin in the next 18 months or 36 months if we have a very long cycle. So where this moves the price will depend on how many coins are actually lost against coins waiting for a huge price to hit the market. Because the owners have a long-term view, ”he said.
Rochard also questions the point where Bitcoin investors will start selling. He believes wealthy investors will be less incentive to sell as BTC rises because they will already have earned their fortunes.