The direction of the bitcoin price has been quite unpredictable for the past few months. In December, when the cryptocurrency dropped below $ 7,000, the majority of analysts expected to retreat to $ 5,000, showing the presence of the 200-week moving average, which is important. In mid-February, the established $ 10,000 summit convinced most investors that BTC would get back $ 14,000 and then rise to fresh summits. As Warren Buffet says, fear when others are fearful and greedy!
BTC did the opposite of what the majority expected, slipping to their lowest level in December and collapsing in February. However, Three Arrows Capital CEO / CIO Su Zhu stated that BTC will end January with a price of 25% higher than the market price of about $ 9,000, in the market environment where uncertainty prevails. As a result, the fund manager was right and his prediction was correct. Now this famous expert is back, claiming that Bitcoin is likely to reach $ 50,000 "relatively quickly". Here are the factors that caused the famous expert to think like this ...
Can Bitcoin hit $ 50,000? Yes, according to the expert holding the predictions!
Su Zhu, who kept the predictions in a recent tweet, said that Bitcoin could rise to $ 50,000 "relatively quickly". According to the estimate of the famous name, Bitcoin will earn 730% profit from the current $ 6,000 price. As for Su Zhu considering why such an explosive growth could happen in such a short time, the expert noted that several emerging markets were "priced now under significant risk of default".
According to Su Zhu, when the US dollar goes into recession, "the return will be difficult", supported by trends in the bond market. All of this, according to Su Zhu, gives the decentralized and limited Bitcoin chance to shine. According to Su Zhu, this is not the only evidence that Bitcoin will gather extremely high and fast.
It is not just Su Zhu that predicts that Bitcoin will rise rapidly.
In March 2019, PlanB, a European investor and analyst who analyzed Bitcoin as a personal passion, published a famous article titled "Modeling the Value of Bitcoin with Scarcity". The article included the following image, which shows that the development of Bitcoin's market value over time can be drawn on a 95% R square or a highly sensitive logarithmic regression.
The model predicts that BTC will have a fair value of ten to twenty times its current value - $ 55,000 to $ 100,000 - after halving.
