Tour Demeester: $ 50,000 Bitcoin – Not Madness



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Tour Demeester: $ 50,000 Bitcoin – Not Madness

Tour Demeester: $ 50,000 Bitcoin – Not Madness

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The economist and founder of Adamant Capital, Tur Demeester, predicted the rally of the first cryptocurrency to $ 50,000 – 100,000, drawing parallels between the arrival of institutionalists in crypto space and the conquest of new lands during the development of the Wild West.

12 months ago bitcoin broke out of its accumulation phase, and re-accumulation started. A break out of this band will likely ignite another parabolic rally. https://t.co/uGbpqYs5s8 pic.twitter.com/T1jDZMeiNV

– Tuur Demeester (@TuurDemeester) May 18, 2020

One of the early bitcoin enthusiasts ruled out a drop in bitcoin below $ 6,000 after the last halving. Demester also predicted a new round of parabolic growth after the price breaks out of the upper limit of consolidation in the range of $ 7,500-11,500.

According to expert observations, the formation of a similar trading range occurred from November 2018 to April 2019, followed by a breakthrough to $ 14,000 last June.

In an interview with the analytical portal Messari, Demester said that Bitcoin “has returned to the bull market”, and the minimum remained behind at around $ 4,000.

According to the Bitcoin investor, the “deployment phase” has begun – a period of active development of digital assets by Wall Street players. In particular, the economist mentioned metamorphoses in relation to cryptocurrencies of JPMorgan, the largest capitalization bank.

“This is the phase of land capture. Everyone knows that Bitcoin does not correlate with traditional financial assets. Institutionals are raising rates and will see what kind of transformation will come after that, ”Demester said.

The growing interest of hedge funds, billionaires and family capital management companies can easily push bitcoin above $ 50,000. At the same time, the bitcoin enthusiast is convinced that the fear of hyperinflation inspired by the Fed’s policy to flood the market with dollars will become the driver.

Demester’s forecast to the current moment has not yet gained a large number of supporters in the Bitcoin options market. According to the Skew analytic platform, the likelihood that Bitcoin will exceed the bar of $ 20,000 by the end of the year is only 9%.

#bitcoin at new all-time-high (> $ 20k) at the end of the 2020?

Options market say 9% probability, what do you think? pic.twitter.com/1L6hlo8k5A

– skew (@skewdotcom) May 19, 2020

Note, Demester is by no means the only one who believes that the policy pursued by the Fed will push Bitcoin to new historical highs. Recently, a similar point of view was presented by Robert Kiyosaki, bestselling author of Rich Dad, Poor Dad, who predicted Bitcoin for $ 75,000 in three years.

Tour Demeester: $ 50,000 Bitcoin – Not Madness

 



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