Cryptocurrency
Short-Term Crypto Bear Calls For ‘Melt Your Face Off” Bitcoin (BTC) Rally via @EtherWorldNews
As reported by Ethereum World News, “While many investors have been enamored with Monday’s short-term rally, which has seen Bitcoin (BTC) run by 8% to near the ever-important $4,000 level, some analysts have kept their trading mindsets static. Financial Survivalism, a self-proclaimed ‘financial revolution prepper’, recently remarked that in the long-term, the flagship cryptocurrency could […]
As reported by Ethereum World News, “While many investors have been enamored with Monday’s short-term rally, which has seen Bitcoin (BTC) run by 8% to near the ever-important $4,000 level, some analysts have kept their trading mindsets static. Financial Survivalism, a self-proclaimed ‘financial revolution prepper’, recently remarked that in the long-term, the flagship cryptocurrency could ‘melt our faces off’ with a jaw-dropping rally.
“In a recent tweet, the seeming anti-establishment figure claimed that while the last cycle returned 16x, as BTC ran from ~$1,200 to $20,000, the next cycle could post even greater returns. Survivalism, attributing to hopeful forecast to adoption and Bitcoin’s resiliency on a global stage, thus concluded that a ‘pump to ~$750,000’ wouldn’t be illogical. For some perspective, if Bitcoin was trading for $750,000 apiece, the asset’s market capitalization would reach $13 trillion, making it one of the, if not the largest currency in circulation.
“Somewhat jokingly, Survivalism added that as most analysts will be calling for $1,000,000, many will forget to profit-take before the next crypto winter. Interestingly, while such a sum seems crazy and even impossible, he isn’t the only industry commentator to be making such optimistic, but slightly out of this world claims.
“Zhu Fa, the co-founder of China-based crypto mining group Poolin, recently took to WeChat to make a prediction quite reminiscent of the one made by Survivalism. For those who missed the memo, the Chinese mining kingpin claimed that the peak of Bitcoin’s next rally will likely be situated at around $740,000, or five million Chinese yuan. Fa did remain somewhat cautious though, noting that his predictions come with a substantial margin of error.
“Survivalism’s $750,000 quip comes just days after he took a 0.1 BTC bet with Murad Mahmudov, a partner at Adaptive Capital, that BTC will hit $1,165 before $10,000 to embark on its next bull surge.”