Despite the ongoing battle between bitcoin bulls and bears for the $ 50,000 price tag and down 8.7% in the last 24 hours, a large number of analysts and commentators have pulled their crystal balls to bring down the bright future of bitcoin prices .

On March 4, Mike McGlone, chief strategic officer at Bloomberg Intelligence, pointed to historical data indicating that Bitcoin is close to $ 100,000.

McGlone’s logic centers on increased discounts on Grayscale Bitcoin Trust shares, which is in line with last year’s Black Thursday crash. The discount applies to cases where Grayscale Bitcoin Trust shares are traded at less than the Bitcoin value (usually traded at a premium).

He said that looking at the historical data

Twitter user Lee Hendrix was not convinced, suggesting that pressure from future ETFs and other cryptocurrencies could be the catalyst for Grayscale’s opponent. (Although this may also be optimistic.)

Bloomberg strategist is not the only expert with high hopes for BTC: Trusted blogger and YouTube Lark Davis said on March 4: “We have just passed the first big wave of awards,” and there are two bigger waves to come.

On March 2, technical analyst Kaleo released a chart showing that BTC will reach $ 100,000 in early April this year.

This is a continuation of his analytical chart, “Bitcoin Era price doubles bonus” two years ago, according to which the price will reach $ 200,000 by mid-2021. Two weeks ago he wrote on Twitter that he still believes it:

“This is without a doubt the most accurate long-term forecast I have ever seen for Bitcoin … BTC will reach $ 200,000 in this cycle.”
Another analyst, known on Twitter as MasterChangz, told his 10,000 followers that he believes Bitcoin will reach $ 200,000 by mid-2021, and possibly in early April. He said the next increase is expected to reach $ 77,000 over the next two weeks.

And there are other, bolder predictions: Kraken CEO Jesse Powell said the cryptocurrency could reach $ 1 million or even “infinity” in a Bloomberg TV interview on March 4, adding that it would eventually become the global currency.

He said: “We can only guess, but when you measure it in dollars, you have to believe it goes on indefinitely.” “True believers will tell you that it will reach the moon and Mars and eventually become the world currency.”

Dan Heald, CEO of Kraken, echoed this prediction on March 5 and tweeted:

Bitcoin is more likely to be worth $ 1,000,000 than $ 0.
Even former bitcoin skeptics have become cryptocurrency supporters: investment firm Sanders Morris Harris’ George Ball admitted to Yahoo Finance on March 4 that he believes cryptocurrencies are now “attractive” as a “small part” of any portfolio.

“I think there’s a fundamental shift in cryptocurrencies that makes them attractive as part of, and fraction of, almost any wallet,” Paul said.

Despite this wave of optimism, the date also indicates that March may be a bloody month, as the Bitcoin price fell 5.8% over six of the last nine years. The last one happened last year on Black Thursday, when the price was down to 50%. However, the second largest monthly light in Bitcoin history occurred in March 2013 when the price rose by 179%.

Source: CoinTelegraph