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If Bitcoin retraces $20,000 and also falls listed below that essential assistance degree, then "something is incorrect" claimed Florian Grummes, managing director of Midas Touch Consulting.
In the medium term, financiers can anticipate the price to touch $50,000 to $100,000, with the current bull cycle targeting $300,000 a coin, Grummes claimed.
" If Bitcoin does the exact same point in the last advancing market in 2016 and 2017, we're mosting likely to $320,000 this time around," he claimed.
0:00 – Bitcoin's bull situation
6:40 – Bitcoin's flooring
8:08 – Bitcoin vs gold, which climbs quicker?
11:08 – Gold price expectation
13:23 – Rising cost of living
17:04 – Altcoins
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Which will come first: $300k Bitcoin or $9k gold? - Florian Grummes
If Bitcoin retraces $20,000 and falls below that key support level, then “something is wrong” said Florian Grummes, managing director of Midas Touch Consulting.
In the medium term, investors can expect the price to touch $50,000 to $100,000, with the current bull cycle targeting $300,000 a coin, Grummes said.
“If Bitcoin does the same thing in the last bull market in 2016 and 2017, we’re going to $320,000 this time,” he said.
0:00 - Bitcoin's bull case
6:40 - Bitcoin's floor
8:08 - Bitcoin vs gold, which climbs faster?
11:08 - Gold price outlook
13:23 - Inflation
17:04 - Altcoins
__________________________________________________________________
Kitco News is the world’s #1 source of metals market information. Our videos feature interviews with prominent industry figures to bring you market-affecting insights, with the goal of helping people make informed investment decisions.
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