Just like John McAfee predicted that Bitcoin will worth $1 million by 2020, and Keiser envisioned that Bitcoin will worth $100,000 in near future, the Saxo Bank global macro strategist and famous Bitcoin bull, Kay Van-Petersen, has also joined the by forecasting that Bitcoin will worth between “$50,000 – $100,000 within the next 6 to 18 months.”
In a short interview with Bloomberg, Kay Van-Petersen explained that the influx of institutional money would be the “catalyst” to drive the price of Bitcoin even higher.
“We’ll get a cascade of ETFs, mutual funds and other investment vehicles breaking out,” Kay predicted, describing the $100,000 price tag as a “prudent” prediction.
Kay continued by saying that aside Bitcoin, any other cryptocurrency could “do better” in terms of growth in price from the same phenomenon, highlighting Ethereum as a possible next contender specifically for ETFs.
“The astonishing thing – mind-blowing if you will – is that you take a step back and look at the price appreciation… a lot of this has happened without traditional institutional money, and that’s basically going to be coming on board over the next six to 18 months,” Van-Petersen continued.
As Bitcoin continues to go well beyond any analyst’s expectations for short-term growth, even the most hardline proponents are being left to wonder what could be next.
Even Van-Petersen’s own prediction of a $100,000 Bitcoin within 10 years, which he delivered in May, now seems less surprising.
The price of Bitcoin has recovered since CBOE successfully launched its bitcoin futures, with exchanges currently eyeing about $17,000 for a bitcoin after it dropped as low as $13,000 over the weekend.
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