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“Keep Dreaming. The Bitcoin price is never going to hit $100,000”
Peter Schiff responded on Twitter seemingly in a bid to quash the hopes and dreams of industry hopefuls.
Even though Schiff didn’t explain his rationale in this latest tweet, he has been quoted as saying that BTC is an unreliable store of value and an improper investment, especially when pitted against precious metals.
While Schiff believes that Bitcoin will never reach a six-digit price point, one of the most recognizable and accurate price models for the cryptocurrency says otherwise.
PlanB’s stock-to-flow scarcity model for Bitcoin, which uses the cryptocurrency’s stock-to-flow ratio (effectively the inflation rate) and relates it to BTC’s market capitalization predicts a BTC price of $50,000 and $100,000 after the Bitcoin halving in May, 2020.
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.