Defining the Bitcoin buying craze as a ‘land grab’ for institutions, Tuur Demeester anticipates the popular crypto going up to $50k-100k!
Tuur Demeester knows a thing or two about Bitcoin. He is successfully investing in it and conducting analyses and researches on the subject. He thinks the popular digital coin won’t go below $6k after the reward halves, and he anticipates the price going to $50k or beyond!
In a YouTube interview, he said that the BTC is back in the bull marketplace after the halving, with a bottom in the $3k-4k already past – he was referring to the events in March.
He further speculated on the recent inflationary measures by the Federal Reserve and how they will affect the cost of digital coins. Despite being worried about a possible low buying power of the dollar being a reason for undermining a more valuable BTC cost, he said that a $50k cost target is not such a crazy idea. He went even further, suggesting $100k.
What’s going to drive the price upwards?
When talking about who is interested in buying BTC in this rush, Demeester pointed to institutions and referred to the phenomena as a ‘land grab phase’ among firms looking for a marketplace separated from the usual assets.
He continued sharing his viewpoints on Twitter, adding that institutions and whales can spark one more parabolic rally in the Bitcoin price if they can accumulate enough.
Other people in the cryptocurrency sphere were not that controversial. For example, BitMEX Chief Executive Officer (CEO) Arthur Hayes believes the price will go back down to $3k once more, but still predicts that the crypto will reach $20k by the end of the year.