The moves that Bitcoin has made in the past will condition its future, according to Maslatón. The researcher considers that Tether saved Bitcoin in the bearish market of 2018.
The price of Bitcoin will reach USD 1 million in the long term, but it will do so indirectly, according to Carlos Maslatón. The financial markets analyst predicted the behavior in the price of the first cryptocurrency for the next few years.
The researcher explained that Bitcoin (BTC) had shown multiple cycles or volatile behaviors since January 2009. Maslatón believes that those upward or downward behaviors, typical of the crypto asset, will increase until 2026 and beyond.
The expert said that three remarkable figures would hit Bitcoin at some point. In the remainder of 2021, the price of the cryptocurrency could reach USD 95,000 per unit. That way, the capitalization of BTC would be equivalent to that of all existing physical US dollars in the world. The Bitcoin investor commented that Bitcoin is worth more than all printed US dollars together.
In the second estimate, Maslatón predicted that the price of Bitcoin would reach USD 1 million. He believes that the first cryptocurrency on the market will hit that number in 2025. He said that BTC is not close to USD 1 million right now but will get there indirectly in waves. He explained that it is necessary to establish when, how, and through which sequence of waves. He added that the past of the cryptocurrency is what determines its future.
Bitcoin Could Go Through a New Streak of All-Time Highs
Maslatón estimated the third price of Bitcoin, which would occur before July 2022. The value of the pioneering cryptocurrency would move between USD 357,000 and USD 464,000 in less than a year. In other words, the analyst believes that the price of BTC could multiply ten times in the coming months. Bitcoin is trading at around USD 50,218 and has grown by about 6.8% in the last seven days, according to CoinGecko.
The expert believes this will cause a global scandal as the sector has almost become a political movement. He stated that the US Federal Reserve (Fed) does not know how to stop those decentralized currencies nobody manages.
If the prediction of the price for 2025 is striking, then the estimate for 2026 would beat all the odds. Maslatón predicted that the value of the cryptocurrency would reach USD 1.6 million that year before falling by 50% or 60%.
Regarding the bearish markets of the past, the finance expert said that the stablecoin Tether saved Bitcoin in 2018. In that year, there was a lot of violence in the market, as in 2014. He commented that those were awful years in which anything would have happened without Tether.
The analyst said nothing about the monetary policy of Bitcoin or other technical aspects of the network. However, he stressed that the US dollar is undergoing a decline, the same as all national fiat currencies.
Over the past few weeks, Bitcoin has seen a rebound in its price. After trading around USD 28,000, the cryptocurrency regained ground and is approaching USD 50,000. Analyst Willy Woo recently noted that intensive purchases by investors are driving the price of BTC higher.
By Alexander Salazar
