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Su Zhu, the co-founder and CEO of fund management firm Three Arrows Capital, is revealing an astronomical Bitcoin price prediction of $2.5 million per BTC.

In a new interview with UpOnly, Su Zhu compares Bitcoin to gold, asserting that gold is likely undervalued and that in the long run, Bitcoin is primed to take over a large portion of the precious metal’s market share.

“I mean, I think there’s an argument that gold itself is very undervalued. If it was the dominant store of value cause this thing was at like $1,700 years ago… and let’s say gold should have 5X’d if there wasn’t Bitcoin, then really we’re looking at a $50 trillion market cap.

So then you’re already halfway there to $100 trillion and that will get you to $2.5 million per BTC and I think that that is definitely possible.”

The CEO says he expects BTC to jump up in sudden price surges along the way and, due in part to institutional investors, simply refuse to return back down to previous levels.

Eventually, says Zhu, the asset will likely look like gold does now – relatively stable.

“I think that at the top of it, it will behave like how gold is now, so low volatility-ish. And I think the way that people should think about how that process will go is that it will be [in] bursts, right. Where the markets look linear in like the short term – it’s always up $1,000, down $1,000 and then you get these bursts. And you get these big repricings and people can never buy again [at the same price].”

As for what Zhu believes will come of the meme crypto asset Dogecoin (DOGE), a project that has caught the eye of Tesla CEO Elon Musk, the Three Arrows co-founder says that it could have a significant amount of upward potential with Musk’s support.

“Elon [Musk is] shilling DOGE a lot and he must have a plan for it. So it’s tough to say. It can go up high.”

In other trending Bitcoin News today:

FRACTAL FROM LAST BULL RUN SAYS BITCOIN WILL HIT $100K BY MAY

Here’s a look at the similarities between the two cycles, and the roadmap that takes the price per BTC to $100,000 and higher within the next couple of months.

Bitcoin volatility is picking up, starting with an explosive move from $10,000 to $50,000 in a few short months. The complete repricing of the coin has been due to institutional investors scrambling to buy what they can of the scarce crypto asset.

At only 21 million coins and a market cap of under $1 trillion, Bitcoin is expected to grow in the long-term reliably. And in an economic climate where growth is challenging to come by, the cryptocurrency has become especially attractive.

But as Bitcoin price discovery takes place, volatility is bound to ensue and is has in recent weeks as the cryptocurrency recently shed 20% in a single day. At prices of $50,000 per coin, a 20% dive means $10,000 in value apiece evaporating into thin air, compared to the $1,000 per plunge crashes during the last bull market.

If the same path is followed, Bitcoin could see further collapse before experiencing a sharp rebound to more than double the price. The price action will play out quickly, taking Bitcoin price first to $75,000 in April, then $100,000 by the time May rolls around.

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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.

Show Notes / Resources:

Previous macro tops have occurred when thousands of transactions worth 5 to 7 million dollars each were flooding the blockchain. True FOMO. Currently, no such FOMO in sight for $BTC. pic.twitter.com/s9Cbgn4n8Q

— whalemap (@whale_map) February 25, 2021

#Bitcoin doesn’t look too great for a bull continuation coming period.Still, retest at $54,000-55,000 could happen, but I’m cautious when we get there. If we lose $47,000, then I’m looking at $42,000-44,000 and $37,000-38,500 next.

That should be the low.

— Michaël van de Poppe (@CryptoMichNL) February 25, 2021

Fractal From Last Bull Run Says Bitcoin Will Hit $100K By May

https://cointelegraph.com/news/bitcoin-price-macro-top-not-so-fast-data-shows-the-real-fomo-isn-t-even-here

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Didi Taihuttu, his wife, and three kids bet ‘everything’ they have on Bitcoin. 

This is how the legend of the BTC family begins.

In 2017, CNBC spoke to the Dutch family of five when they were in the process of liquidating their assets — from a profitable business and 2,500-square-foot house, to their shoes — and trading it all in for the popular cryptocurrency and a life on the road. 

Nearly four years and 40 countries later, Taihuttu and his family still don’t have bank accounts, a house, or all that much by way of personal possessions. All of the family’s savings remain tied up in highly volatile cryptocurrencies. 

“We stepped into bitcoin, because we wanted to change our lives,” said the 42-year-old father of three.

When the price of bitcoin collapsed in 2018, Taihuttu added more to his investment portfolio. He says he was always a firm believer that the cryptocurrency was poised for a major rebound. 

“I think in this bull cycle, we are going to see a minimal peak of $100,000. I won’t be surprised if it hits $200,000 by 2022.” 

The price of bitcoin reached an all-time high on Monday, as it closed in on $20,000. And some analysts say the cryptocurrency still has a lot of room to run higher. 

Mike Novogratz, CEO of investment firm Galaxy Digital, thinks this comeback rally is only just getting started. He sees bitcoin rising to $60,000 by next year. 

And Tom Fitzpatrick, global head of CitiFXTechnicals, said the charts signaled that bitcoin could reach $318,000 by December 2021, in a report meant for Citibank’s institutional clients and obtained by CNBC.

Taihuttu bought the bulk of his bitcoin holdings when it was was trading at around $900 in early 2017, just months before it reached nearly $20,000 a coin. 

Even as bitcoin peaked, the family stayed invested in the cryptocurrency. Once the bubble burst, and the price tumbled down to about $3,000 in early 2018, Taihuttu and his family weren’t deterred. “When bitcoin dipped, we started to buy more.” 

When I asked Taihuttu on our Skype call whether he was worried that we could be in the midst of another bitcoin bubble, he doubled down on his investment. “I don’t see demand going down,” he added. “I think we’re headed for a supply crisis.” 

In other trending Bitcoin News today:

Billionaire Paul Tudor Jones Says Bitcoin’s ‘Crazy Rocket Ship Ride’ Is Just Beginning

Veteran investor and hedge fund manager Paul Tudor Jones is likening Bitcoin and crypto to the early stages of the internet.

In an interview with Yahoo Finance, Jones says that while he is not sure where Bitcoin will land in the financial landscape a decade from now, he is fairly confident that it is in the early stages of a major upward movement.

“So what I do know is that it’s no way possible today to know what the next 10 or 20 years are going to be like and I know if I had to take a position on it I’m going to take the brand name and I’m going to assume that it’s the wrong price for the possibilities that it has and I’m going to assume that the path forward from here is north.

I think crypto is going to have a crazy rocket ship ride, up and down along the way, but my guess is that something like Bitcoin in particular will be substantially higher 20 years from now than where it is right now and who knows what role it has in the monetary system.”

“Bitcoin reminds me so much of the internet stocks of 1999 because [when] the internet was in its infancy no one knew how to value it because of the world of possibility that lay ahead.

What you can be certain of is that probably 20 years from now is that we’ll be using some kind of digital currency.”

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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.

Show Notes / Resources:

Micro strategy now holds 40k bitcoin.There is about 2.44M bitcoin left to mine.So if we think of fresh supply coming in, there is only room for 61 more companies to hold as much as MSTR before the last sat is mined.

The rest has to be torn out of hodler hands.

— hodlonaut 🌮⚡🔑 🐝 (@hodlonaut) December 4, 2020

https://www.cnbc.com/2020/12/03/bitcoin-family-invested-their-retirement-and-savings-in-bitcoin-ethereum-litecoin.html

https://www.kitco.com/news/2020-12-04/Raoul-Pal-sold-his-gold-because-bitcoin-is-eating-the-world-300k-price-in-18-months.html?fbclid=IwAR3YwluljGeC37oo0hjLhP6MZ9E3Dohi4SrLYCxGQpXIEabt9PF_kdxOTYo

https://finance.yahoo.com/news/microstrategy-buys-additional-50m-bitcoin-225922648.html

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BITCOIN PRICE PUMPS 20%, ARE BULLS RUNNING INTO A TRAP?

With the BTC price registering gains of over 20% in the last 24 hours, many holders are getting excited.

But, it seems that the jury is still out on just how positive this latest pump is.

Could the bulls be running into a trap?

Bitcoin analysts can’t agree on whether this latest pump will keep seeing BTC price soar.

Some seasoned traders are celebrating Bitcoin’s decoupling from the stock market while others are calling for caution.

Indeed, throughout its 11-year trajectory, bitcoin price has widely been regarded as uncorrelated with the stock market.

We’re all well-versed in the safe haven narrative and comparing bitcoin to gold.

As stock markets plunge, Bitcoin has often held its own or even swung to the upside.

However, just days ago, that narrative appeared to have been called sharply into check.

The cryptocurrency market experienced a major sell-off alongside the S&P 500.

While there is a generally positive vibe in the air (at last), some traders are calling for caution.

After all, we’ve been burned before. This could be another liquidity grab before the next major downswing.

That said, many seem to be in agreement that the key support level bitcoin price needed to flip was $6400.

Both Josh Rager and CryptoBirb cited the $6,400 level as crucial.

CryptoBirb even went as far as to predict that bitcoin price could bounce all the way back to $7,600 as there is “little resistance between 6.4k and 7.6k.”

Rager also points out though, that even breaking $6.4k, stocks selling off is not bullish for BTC. Coinbase also warns that if the S&P 500 correlation sustains again in the future, “Bitcoin will enter uncharted territory.”

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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.

Show Notes / Resources:

I can not express how bullish I am on bitcoin. We are at risk of losing the entire system right now. I know they will find a way to save it but all trust is lost.

Gold guys/girls – you’ll be fine too. It’s just that $BTC has bigger upside, by far but is riskier than gold

— Raoul Pal (@RaoulGMI) March 19, 2020

$btc tapping ex-range lows flipped to resistance. Positive for bulls is that there is little resistance between 6.4k and 7.6k
Intraday consolidation breakout retest towards 5.4-5.6k would be the most healthy to confirm price action is slowly recovering after Friday 13th PTSD lol pic.twitter.com/6u1fUZjpU6

— Crypto₿irb (@crypto_birb) March 20, 2020

$BTC rejected off the point of control (highest traded volume price) – a level that we saw act as support twice before the breakdownFor me to start to feel bullish, price needs to flip at least $6400 on high time frames

Even then, stocks selling off is not bullish for BTC pic.twitter.com/CjrlzqZtRe

— Josh Rager 📈 (@Josh_Rager) March 20, 2020

Bitcoin Price Pumps 20%, Are Bulls Running Into a Trap?

https://cointelegraph.com/news/raoul-pal-super-bullish-on-bitcoin-price-after-miraculous-80-rebound