Well-known cryptanalyst Jason Pizzino stated what factors must occur in order for the Bitcoin exchange rate to reach $1 million. At the same time, the expert expressed confidence that sooner or later this will happen.
Pizzino emphasized that now the growth in the value of the flagship cryptocurrency by 25 times looks fantastic. However, in the period from December 2018 to November 2021, the asset price increased 22 times, so nothing is impossible. The specialist is sure that this will definitely happen, it will just take a little longer than many people expect.
The analyst assured that in order to reach the price of $ 1 million, Bitcoin must be separated from dependence on the Nasdaq index. In his opinion, this will definitely happen over time. But as long as this state of affairs continues, bitcoin and Ethereum will lose value.
The expert emphasized that it is also important for bitcoin to stop associating itself with the blockchain. This virtual currency should be more like gold than part of the technology sector if it wants to become a global reserve asset.
The specialist said that he fully agrees with the opinion of the head of ARK Invest Catherine Wood and Michael J. Saylor, managing director of MicroStrategy Inc. Both of them assured that the flagship cryptocurrency will definitely reach the price mark of $1 million. According to their forecasts, this will happen closer to 2030.
Earlier edition informed that one of the leading macroanalysts, Lyn Alden, spoke about her expectations from the future course of the first cryptocurrency. According to the expert, it is now impossible to predict the further movement of the value of the flagship digital asset due to the geopolitical situation in the world. In the next six months, this will not be possible. The financier also noted that the heads of the largest states are doing everything to tighten the regulation of the sector.
