Bitcoin Could Explode 25x From Current Price | CryptoGazette
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The crypto market is recovering following recent corrections and the most important digital assets are regaining their losses. Check out the latest reports below.
Crypto analyst and trader Jason Pizzino is optimistic that Bitcoin (BTC) could hit a seven-figure price over time.
In a new video update, Pizzino said that it’s “not too far out of the question” for Bitcoin to rally by around 25 times and reach a price of $1,000,000.
“A 25x might seem like it’s a little far-fetched. But as we can see from December 2018 to the current top in 2021 in November, it’s basically been a 22x return. So 2,100% here. So it’s not too far out of the question. But I just think it’s going to take a lot more time than people are expecting.”
The analyst also said that for Bitcoin to reach a $1,000,000 price, the flagship crypto asset has to overcome challenges such as severing its tie to equities. According to Pizzino, Bitcoin is highly correlated to the Nasdaq stock index.
“Some of the challenges that we’ve got to get through is decoupling from the Nasdaq…The problem lies with the Nasdaq itself being that we could be in for more downside in the Nasdaq which means more downside in Bitcoin and Ethereum and of course cryptocurrencies.”
Bitcoin offers bulls a massive opportunity
he crypto market is showing signs of reversal following a short period of corrections. At the moment of writing this article, Bitcoin is trading in the green. The king coin is currently priced at $41,543.
The pseudonymous crypto analyst Plan B says that, barring a black swan event, all the indicators point to a bright future for Bitcoin (BTC) in the coming months.
During a YouTube interview with Blockware Intelligence, Plan B is laying out the case for why he thinks numerous Bitcoin metrics look so cheerful.
“At the risk of being called a moonboy, all the signals, whether you look fundamentally, like stock-to-flow [S2F] for example or on-chain, realized cap or other metrics, or in the news, the macro news, the number of countries that are opening up to Bitcoin. Everything is positive.”
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