In early June, the JAN3 boss also touched on that topic. According to that tweet, Mow believes that in order to finally surpass $100,000, the world’s largest cryptocurrency Bitcoin needs first to exceed the all-time high of $73,750 it managed to achieve in March.
After that, Mow continued, the recursive demand shock will step in and will drive BTC all the way above the $100,000 price line.
In one of his tweets published this summer, Mow said he expects Bitcoin to skyrocket to a whopping $1,000,000 within the next year. Even if it happens later than this time frame, he said later, it is still a matter of the nearest future.
Those describe stages of attitude of crypto investors to Bitcoin as they begin to like and understand BTC stronger and finally come to Max Keiser’s famous thesis that “everything is going to zero against Bitcoin.”
The first stage is “I just heard about BTC, I can fix it.” The second one shows an investor’s admiration toward Bitcoin, even though it is not as high as that to altcoins. That is followed by beginning to use BTC for payments (adoption). Then Bitcoin becomes a new asset class for investors and the “best store of value ever.”
By saying that the third stage is being implemented in El Salvador now, where Keiser is the president’s advisor on BTC, he admitted that these stages do not only describe retail investors but also countries. Keiser expects the fourth stage (“BTC = new asset class; best store of value ever”) to arrive soon in the U.S. as well.
This article was originally published on U.Today
Source: Cryptocurrency - investing.com
