A well-known analyst in the cryptocurrency market has just made one of the most optimistic predictions about the Bitcoin exchange rate ever. He believes that the largest blockchain currency could cost as much as $5 million. Bitcoin at $5 million The analyst known in the industry as Carl the Moon said in a new interview with Coin Post that BTC could eventually cost $5 million. "If you look at the supply of currencies in the world, it's currently valued at $100 trillion, If Bitcoin takes over that entire pool of liquidity, that pool of fiat money, that means Bitcoin could potentially take over that market capitalization, which would give Bitcoin [a price] of about $5 million for 1 BTC," - he said. Carl says the current global economic landscape is favorable for cryptocurrency: "I think it's clear that Bitcoin will eventually go above $20,000. We're seeing central banks printing currency like never before. And what we're seeing is the historical amount of currency printing is the exact scenario for which Bitcoin was created. Basically, Bitcoin looks [in terms of fundamentals] extremely bullish, much more bullish than on a technical level." Traders will lose money Unfortunately, he's added a lot of ointment to the honey barrel. He believes that most traders, those on the so-called "street," are likely to lose money trying to cash in on BTC. "I think the people who own Bitcoins are going to be the biggest winners in the world because Bitcoin has been the most successful asset of the last decade. In my opinion, it will continue to be the best performing asset of this decade," - he explained. In his opinion, active traders can make more money than hodlers if they actively trade and know what they are doing. Except that people who don't have experience playing the stock market tend to lose money while speculating. "About 80 to 90 percent of people who trade lose money over time," - He added. In the short term, the analyst says bitcoin simply needs to break through resistance at the $14,000 level to start a major uptrend. "I think Bitcoin is currently in a bull market, but I'm not sure we've already started a big Bitcoin bull market... The most important question is whether Bitcoin will be able to overcome the previous highs. It was around $14,000 here in June-July 2019. I think once we cross that level, I can confidently say that we are guaranteed a bull market." Tags bitcoin price bitcoin price in a few years bitcoin exchange rate
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