The representative of venture Fund Obsidian Capital Ernie hill believes that the capitalization of Bitcoin to reach one trillion dollars in the foreseeable future. About this expert told in an exclusive interview to journalists of the portal Bitcoinist.
Today Bitcoin is trading at 10 867 USD. For the past day, the price of bitcoin has grown 1.7 percent. Recently BTC has reached line 11 thousand dollars, then there was a small rollback. However, according to co-founder of the exchange Gemini Tyler Winklevoss, Bitcoin does not remain almost any obstacles on the way to the level of 15 thousand dollars.
Bullrun of unprecedented proportions
Ernie hill had some Parallels between ballroom 2017 and the current price movement of Bitcoin.
Bitcoin broke through an important resistance level in the area of $ 9,000. Glasses on different exchanges don’t look too big, so large and institutional investors have accumulated a lot of cryptocurrencies near the line of local minimum of $ 3,000. Bitcoin price is already several times could increase by thousands of percent in just a couple of years, as it was in 2017.
In addition, hill noted the growing level of acceptance of Bitcoin and major altcoins among the serious players on wall street. Moneybags are showing more interest in BTC, which will necessarily affect its prospects for growth. Ernie more than confident that in the foreseeable future the main cryptocurrency will set a new historical maximum value.
Analyst shared his research of the Average Dormancy Theory. This metric determines how many total bitcoins was transferred on the blockchain for the last time. Judging by the increased activity in the transactions of cryptocurrencies recently, she has finally moved from bearish trend to bullish.
The expert also has a opinion on the next Bitcoin price peak. According to hill, in the foreseeable future, cryptocurrency will be traded in the range of 45 to 55 thousand dollars. Will have to wait not so much — from 12 to 18 months. The capitalisation of BTC will reach unprecedented heights — trillion dollars. Taking into account the capitalization of altcoins the cost of the entire stock market can do to reach two trillion dollars.
Note that the capitalization of the gold market recently reached 7.5 trillion dollars. Even with the planned hill situation, Bitcoin will still remain the potential for growth.
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