In a June 24 interview on Fox Business, ThinkMarkets chief market analyst Naeem Aslam predicts a Bitcoin price that could reach $100,000. Aslam had previously predicted on June 17 that BTC would hit $10,000 in “a couple of weeks,” citing institutional adoption as a major catalyst. He was proven right as Bitcoin hit his mark on 22 June 2019.
According to Aslam, the major price points to look out for now are $20,000 and $50,000. He argues that by hitting $20,000, discussion will move from conservative estimates exceeding the number one cryptocurrency’s all-time high to forecasts of $50,000; from there, breaking $50,000 will move the price target to $100,000.
Geo-political risks seems to be Aslam’s main point as he cites the US -China trade war and the rising potential of a war in the Middle East both events are creating uncertainty in stock markets and like gold, BTC seem to be a safe haven choice for some investors.
Earlier this year, Trace Mayer, renowned Bitcoin investor said that BTC was extremely cheap according this his Mayer Multiple. The Mayer Multiple is an equation that involves dividing current BTC price by its 200-day moving average.
The chart below shows the current level of the Mayer multiple.
Here is what Mayer said earlier this year
What do you think? Will Bitcoin reach $ 100,000…