In a newsletter released today, the founder of Quantum Economics said Bitcoin’s recent surge past $ 23,000 – a gain of about 29% in a week – didn’t necessarily mean the market was “overheated” and headed for a crash like the one in December 2017.
“In our opinion, things have just begun,” said Greenspan. “We probably shouldn’t use old measures to determine what percentage gains are possible.”
“Should demand continue to pick up from these levels and supply remains limited, there is a clear possibility that we will see a gain of 250% or even more in a few days.”
Greenspan said there is “no one on the planet who could predict” when Bitcoin (BTC) will turn bearish, but the prize could be “any number between $ 23,800 and $ 1 million per coin.” He didn’t rule out either Scott Miner’s claim of Guggenheim Partners that the crypto asset “should be worth about $ 400,000.”
“Now that we are past the previous record highs, there are no more levels on the chart that could indicate where the price could eventually rise,” Greenspan said. “However, it will peak at some point. You can be sure of that. “
Other figures in the crypto space, such as Binance.US CEO Catherine Coley, see also the current Bitcoin bull run as evidence of continued growth:
“When the Fed and other government agencies around the world are ostensibly okay with the effects of inflation on fiat currencies, we will continue to see the diversification thesis towards a rise in BTC, with prices breaking through significant technical levels.”
Bitcoin’s price is $ 22,863 at the time of publication, after a 9.8% increase in the last 24 hours.