The analyst predicts that Bitcoin will increase by 700% from the current price


Bitcoin's price action has become unpredictable over the past few months.


In December, when the cryptocurrency dropped below $ 7,000, most analysts expected a retreat to $ 5,000, on the grounds that the 200-week MA line is staying at this price. And a peak of $ 10,000 in mid-February led half of analysts to believe that BTC was ready to return to $ 14,000, and then a return to an all-time high of $ 20,000.


Exactly like Warren Buffet's famous saying: "Be greedy when others are scared and be fearful when others are greedy", BTC has done the opposite of what most people expect, when prices drop past low levels. was created in December and plummeted to a recent low of $ 3,800.


However, CEO / CIO of Three Arbow Capital, Su Zhu, thinks that Bitcoin will quickly increase to $ 50,000. And here is why he thinks so.


Can Bitcoin reach $ 50,000?


In a recent tweet, Su Zhu commented that Bitcoin could rise to $ 50,000 relatively quickly, which would mark a 730% increase from the current price of $ 6,000.


He said such explosive growth is due to the fact that some newly developed countries are in danger of default, the dollar was born to be abusive, and it will be very difficult to return, and this has been Endorsed by trends in the bond market.


All of this will give Bitcoin a chance to shine because of its decentralization.



This is the only evidence that Bitcoin will rise very high and extremely fast.


In March 2019, well-known analyst PlanB, published a popular article on Medium titled "Modeling the value of Bitcoin with scarcity. "


The article contains the image below, showing that Bitcoin market capitalization over time can be plotted on logarithmic regression, having R squared by 95%, and it has been extremely accurate predictions over the past time.


bitcoin-tang-700-phan-tram1


The model predicts that BTC will be worth between $ 55,000 and $ 100,000 - ten to twenty times the current value - after the halving event in May.


Disclaimer: This is not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.


Sn_Nour


According to Newsbtc




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