Cryptocurrency enthusiasts and investors seem to be very bullish about the future of the cryptocurrency market. In a recent poll by the crypto trader Magic Poop Cannon, 72% of respondents believe that bitcoin (BTC) will surpass $20,000 in the long-term. 42% of the respondents said that bitcoin would grow up to $100,000 and eventually reach $1 million.
Could bitcoin Reach $1 Million?
In a recent tweet poll, Magic Poop Cannon, almost 3,000 votes gave their opinion regarding the future of the crypto market. 72% of the respondents mentioned that bitcoin is going to be traded above $20,000 in the long-term.
This is very bullish for , a digital asset that has been in a bear trend since December 2017. At that time, bitcoin was traded close to $20,000 but then it dropped down to $3,250 just a few months ago. That represents an 80%+ decrease in over a year. The whole cryptocurrency market has been affected. There are several digital assets that lost more than 90% of their value.
Magic Poop Cannon is a professional trader that gives his views on the crypto market. He predicted back in May that bitcoin was going to be falling under $6,000. He has also mentioned that bitcoin has already bottomed and that there will be a period of accumulation before the start of a bull market.
The trader said that he sees bitcoin going to $100,000 and it could eventually reach $1 million. About it, he commented:
“For my long term view, I see bitcoin going to at least $100,000 within four years. I think it could even reach $150,000 in that time. Eventually, I believe it could surpass $1,000,000. Where do you see BTC going in the long term?”
For my long term view, I see going to at least $100,000 within four years. I think it could even reach $150,000 in that time. Eventually, I believe it could surpass $1,000,000. Where do you see going in the long term?
— MAGIC (@MagicPoopCannon)
There are other analysts and crypto experts, such as John McAfee, that have also predicted bitcoin to reach these levels. For example, Mr. said that bitcoin is going to reach $1 million before the end of 2020.
Mark Jeffrey, the author of the crypto book “bitcoin Explained Simply,” expects bitcoin to be traded close to $250,000 in the future.
At the time of writing this article, bitcoin is being traded around $3,881. It also has a market capitalization of $68.18 billion.
Published at Fri, 01 Mar 2019 21:05:37 +0000
