Despite a long correction since 2017, Bitcoin has significantly risen in price over the past ten years. A case in point: a cryptocurrency that initially traded at around $ 0.001 now costs more than $ 7,000, and the increase is literally hundreds of millions of percent.

Although such results seem fantastic, some observers claim that Bitcoin still has room to grow.

In a recent publication, Raul Pal, a former Goldman Sachs executive and hedge fund manager, said Bitcoin could cost 5,000% more than today ... and that’s why.

Bitcoin's market capitalization will exceed $ 1 trillion

Over the past 12 months, Pal has become one of the “loudest” bulls on the BTC market, which is related to Wall Street. He emphasizes again and again his super bullish position in a series of interviews, tweets and publications. The April issue of Global Macro Investor was no exception.

Pal said that, in his opinion, BTC is already the most effective asset. He did not provide an accurate forecast figure, but a range: from $ 100,000 to $ 1 million for Bitcoin, which corresponds to a market capitalization of more than 2 trillion and more than 20 trillion dollars, respectively. The analyst believes that this chart reflects the process of accumulation before the breakthrough:

An impressive schedule ... I think it will reach $ 100,000 in the next two years. But in the same period, the price could reach $ 1 million.

No matter how crazy this forecast is, Pal found arguments for its justification.

Namely, he believes that the risk is high “The failure of our monetary system,” or at least the collapse of the “current financial architecture.”

He emphasized that the leading cryptocurrency will benefit from this process, because:

It is a fully tested, validated, secure, financial and accounting digital value system. This is nothing but the future of a system of means of payment, as well as the money itself and the platform on which they operate.

Earlier, the analyst gave more modest forecasts regarding the medium-term prospects of the leading cryptocurrency. In February, Pal announced that he expected BTC to reach at least $ 20,000 in the next 12-18 months. By the way, well-known investor Dan Morehead announced about the same timelines and goals.

Pal believes so much in his astronomical prediction that in conclusion of his publication he wrote the following:

The distribution of personal liquid assets that I personally seek is 25% of trade investments, 25% of cash (or dollars), 25% of gold, 25% of Bitcoins.