Michael Saylor Predicts Bitcoin Will Hit $13 Million, Reveals Expected Date
09 Setembro 2024 - 11:30PM
NEWSBTC
Michael Saylor, co-founder and Executive Chairman of the business
intelligence firm MicroStrategy and a well-known Bitcoin advocate,
recently reiterated his bullish stance on the leading
cryptocurrency during an exclusive interview with CNBC on Monday.
Saylor’s Bitcoin Price Forecast Saylor, recognized for steering his
company towards significant BTC investments to capitalize on its
continuous growth, projected a mind-blowing future valuation for
Bitcoin. Saylor boldly forecasted that the Bitcoin price could soar
to an unprecedented $13 million per coin. During the interview,
Saylor emphasized that Bitcoin represents just 0.1% of the global
capital, envisioning a substantial increase to 7%. This monumental
shift, he suggested, could propel Bitcoin to the remarkable $13
million mark by 2045. Related Reading: FET Teeters At Trendline:
Will A Breakout Fuel A Run To $1.86? Saylor expounded on the
cryptocurrency’s growth trajectory by delving into a detailed
four-year calculation for the entire BTC market. With an average
annual growth rate of 44%, potentially tapering to 40%, 35%, and
eventually 30% in the coming years, Saylor outlined a compelling
case for Bitcoin outperforming traditional financial indices.
Saylor explained that he envisions BTC’s return outperforming the
S&P by 8%, surpassing the market capitalization of the top 500
publicly traded companies in the US, underscoring its potential to
disrupt global capital markets. During the interview, Saylor also
took a moment to highlight the cryptocurrency’s unique proposition
as an asset without counterparty risk. Contrary to popular
belief that associates Bitcoin with high-risk investments, Saylor
posited that BTC represents a safe haven for risk-averse people,
emphasizing the desire for security and stability in investment
choices. Market Direction And Support Levels Delving into the
current state of the BTC market, crypto analyst Doctor Profit
recently released a report to assess future price movements for the
leading crypto. The report poses a crucial question: will the
market continue to decline, or is a breakout to the upside
imminent? Drawing parallels to past scenarios, Doctor Profit
emphasizes the dangers of waiting for an elusive lower price point,
citing a past instance when Bitcoin hovered at $16,000 in 2022,
defying expectations of a drop to $10,000. Central to Doctor
Profit’s analysis is the 50-day exponential moving
average (EMA) position, currently trailing 2% below the market
price of $55,400, indicating a potential opportunity for traders to
capitalize on potential recovery for the cryptocurrency.
Related Reading: Avalanche (AVAX) Ready To Target $28: Investors
Expect A Reversal In addition, the analyst highlights a second
support level 10% below the current price at $48,000, which could
act as a barrier to further declines below this point, as it proved
key during the August 5 crash that saw BTC plummet to $49,000.
Addressing prevailing sentiments of pessimism and calls for a
retreat to $40,000 levels, Doctor Profit offers a nuanced
perspective, reminding investors of historical patterns
post-Bitcoin Halving events. With the most recent Halving
occurring in April, Doctor Profit contends that the market is well
within the typical timeframe for Bitcoin’s parabolic surges,
typically observed 10-12 months post-Halving. While the
current sideways movement near the all-time high may evoke fear,
Doctor Profit asserts that this phase is a natural part of the
market cycle, distinct from the exuberance characterizing previous
peaks. Featured image from DALL-E, chart from TradingView.com
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