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The Bitcoin Price Will Never Hit $ 100,000? Golden bugs beat bulls



For the longest time, Bitcoin investors have been shooting for the moon, calling for the price of BTC to reach high prices, such as $ 50,000 and $ 100,000. Ultimately, cryptocurrency has the potential to usurp the traditional power scheme. But, Peter Schiff, a leading gold investor, does not think such a rise will happen.

Related Read: Bitcoin Bandit Discount Can Face 10 Years for Cryptocurrency Robbery

Bitcoin Won't Hit Six Figures, Schiff Says Bitcoin will never reach $ 100,000, ostensibly in an attempt to stifle the hopes and dreams of the industry's hopes.

Until Schiff explained his rationale in this latest tweet, he was quoted as saying that BTC is an unreliable stock and a wrong investment, especially when it is quoted against precious metals.

Schiff's latest bid against Bitcoin comes shortly after noting that the cryptocurrency market is ready to fall to pre-2017 levels. As reported earlier this exit, he stated that the entire Bitcoin market is being manipulated by whales who are ready to launch:

"Walkers at BTC will not sell because they think they will get rich when the moons come. The whales are getting rich by selling now to make their paper profits before the market crash wipes them out. Whales need to make sure anglers do not lose faith and money to make money! ”

Related reading: Bitcoin flag technical model suggests a 25% jump in prices to $ 11,600

The PlanB model starts to differ [19659004] While Schiff thinks bitcoin will never reach the six-digit price point, one of the most recognizable and accurate pricing models for cryptocurrency says otherwise.

The PlanB bitcoin shortage model, which uses cryptocurrencies to stock-to-flow ratio (effectively the inflation rate) and links it to BTC's market capitalization.

The linear regression model, which produces 95% of R2 (statistically linggo extremely accurate), predicts that the fair value of BTC will reach anywhere between $ 50,000 and $ 100,000 after half the event in May 2020. sounds like this, PlanB studies have also found that bitcoin always strives for the fair value indicated by the model with sufficient time.

Not only the BTC deficit will be a boon to cryptocurrency markets, earlier this year Anthony Pompliano sat on CNN to speak with crypto. In an interview, Pompliano made a jaw-dropping statement that Bitcoin would hit $ 100,000 for some time in the next two odd years.

While this may seem absolutely absurd, he believes in the half merger, and the increased liquidity and inflation risk created by central banks can raise BTC in the sky – even to the moon, so to speak.

This price model and forecasts may seem optimistic, but many people are betting on the fact that BTC will win $ 100,000. Brad Mills, a popular industry commentator, reminded Schiff that $ 100,000 BTC would give cryptocurrency a "$ 2 trillion market cap" that is "still peanuts compared to the gold market cap . "

Related Readings: Golden Breakthroughs After Dow Records New High; Why Bitcoin Can Grow
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