Argentine analyst Maslatón considers that Bitcoin is a liberal advance in a world that is moving to the extreme left. He denies that someone is manipulating Bitcoin’s price and predicts that it will reach more than USD 50,000.
Attorney and market analyst Carlos Maslatón recently talked about the relationship between Bitcoin’s price and that of fiat currencies. “If Bitcoin’s price reached millions of US dollars, there would be a [new] political reality in the following five years. That situation would lead to the fall of fiat currencies [at the global level],” he said.
According to the former Xapo treasurer, “we may be in a process of melting compulsory legal tender fiat currencies.”
“Compulsory legal tender is a political mechanism through which the State prints banknotes to pay taxes, obligations, debts, and contracts,” explained Maslatón.
This Argentine market analyst, who defines himself as a right-wing liberal, considers that Bitcoin is a liberal advance. He says that it is now available in a world that “is moving to the left and the extreme left.” Maslatón explained that Satoshi Nakamoto’s creation has the advantage that adherents to different political expressions support it. “Ultraliberalism, as well as some US- and Nordic-style lefties, supports Bitcoin. The reason for that is that they initially saw that it challenged the might of banks,” he stated.
Growing Institutional Investment
Before talking about institutional investments, which have reached Bitcoin on a large scale, he said that “something quite impressive is now happening.” Institutional investors have the Bitcoin equivalent of more than USD 20 million in their hands.
“Now banks also want to enter, which is excellent for the strength of the product. That would allow denying that [the cryptocurrency] is speculation in the style of the 17th-century tulips,” Maslatón added.
This market analyst also rejected the premise that someone is manipulating Bitcoin’s price. “This is a clean market, where there is no possibility of manipulating it. Neither sharks nor whales can do it, which is mere sensationalism,” he said.
Bitcoin’s Possible Price in 2021
The lawyer specializes in Elliot’s wave theory, which allowed him to extensively explain his estimates for Bitcoin’s price. In other words, he believes that it can reach USD 50,145 within the next 3 or 4 weeks, or even less.
According to Maslatón’s predictions, the BTC price chart will make a triangle that will last for about 3 months. He considers that “during those months, which he calls “a break”, there must be fright, fear, and confusion.” After this stage, he estimates that BTC could reach a maximum of USD 93,213 in 2021.
“I recently made an estimate taking into account Bitcoin at USD 95,000. I found that this would lead to a market capitalization equivalent to all the banknotes and coins of the United States,” said the market analyst.
Maslatón considers that this situation “will be a complete novelty at the global scale.” He wondered whether some people would say that it is “a tulip” or “speculation.” He also believes that they might attribute it to “whales or sharks”.
By Alexander Salazar
