New Macro Report Says $1M BTC by 2025 Possible
https://www.pickpik.com/bitcoin-crypto-virtual-money-electronic-currency-44862

New Macro Report Says $1M BTC by 2025 Possible

By Abhimanyu Krishnan | News | 27 Apr 2020


A report published by Global Macro Investor (GMI) in early April offers some very optimistic predictions about the price of Bitcoin, with a price rally to $1 million possible in the future. The report is in line with several others published in recent times, including one by Bloomberg which states that Bitcoin is in a phase of maturation.

The Unfolding report, first released to clients of Global Macro Investor on March 30, speaks of several macro level indicators that describes several worrying possibilities in global markets. According to the report, a troubling future is upon as a result of the COVID-19 pandemic - something many experts and companies, including Bloomberg and Changpeng Zhao of Binance, agree with. 

Global Macro Investor is led by Raoul Pal, who advises hedge funds, asset managers, sovereign wealth funds and family offices about various markets. GMI is a macro level research service that is an effort of RealVision, of which Pal is the Chief Executive Officer (CEO) and co-founder. 

Pal authored the report and says that we are in the first stage of this unfolding, which he dubs as “panic”,

The biggest event of our lives has now begun to come clear and I believe we are still only in the first phase - the panic. It will most likely play out in three acts over several years. First, the panic, which is the liquidity phase. Then, the hope, which is the correction phase. And finally, the insolvency, the brutal phase that changes everything, including the system itself.

Saying that the pandemic has sparked “the biggest economic event of the last 150 years”, Pal highlights drops in Purchasing Managers’ Index (PMI), retail sales, industrial production, automobile production and unemployment has damning indicators of a bleak economic future.  

He then goes on to say that Bitcoin and gold are the two options that will “probably make us rich.” In a timeframe of 3 to 5 years, he says that Bitcoin could $1 million, projecting a potential market cap of $10 trillion. 

He raises the praise for Bitcoin, saying that it was born out of a financial crisis and that it is “literally what Bitcoin was invented for.” He ends by saying that “we all need to have Bitcoin” and recommends a 25% allocation in every investor’s portfolio.

Silk Road Founder: “Sky” the limit for Bitcoin, Quadrillion Market Cap Possible

The optimistic price forecast for Bitcoin is similar to what many others have said, such as Silk Road founder Ross Ulbricht, who sees a real possibility in Bitcoin hitting an incredible level of market capitalization. 

Ulbricht, who is currently serving two life sentences plus 40 years without parole for his role in dark web marketplace Silk Road, published a blog post on April 11 said that Bitcoin could hit $3200 levels again before rebounding. 

His latest statement sees some eye-watering long term possibilities, however, with a long term price of $333 million per Bitcoin not unreasonable. That would put Bitcoin at a market cap of nearly $7 quadrillion. He emphasizes that predictions cannot be right 100% of the time, but attempts to map out realistic possibilities, and advocates long term thinking,

So the point is — long term — the sky is the limit. The remainder of wave II and the start of wave III will seem like insignificant fluctuations by the time wave III is under way. Decades from now, anything below $20,000 will seem cheap.


Abhimanyu Krishnan
Abhimanyu Krishnan

Technophile, cryptocurrency enthusiast and journalist.


News
News

Official Publish0x Crypto News Channel

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.