Saxo Bank’s global macro strategist and well-known Bitcoin bull Kay Van-Petersen said Bitcoin prices would be “between $ 50,000 and $ 100,000 in the next six to 18 months.”
Speaking to Bloomberg in a short interview, Mr Van-Petersen explained that the influx of institutional money would be the “catalyst” for pushing Bitcoin prices even further.
“We will have a cascade of ETFs, mutual funds and other investment vehicles coming out,” he predicted, describing the $ 100,000 price as a “conservative” forecast.
Not only Bitcoin, but other cryptocurrencies could “do better” in terms of price growth of the same phenomenon, continued the analyst, pointing out that Etherheum was a potential competitor for ETFs.
“What’s amazing – mind-blowing if you want – is that you step back and look at price appreciation … a lot of things have happened without the traditional institutional money, and it’s going to basically happen in the next six to 18 months, “Van-Petersen continued.
As Bitcoin continues to go well beyond the expectations of any analyst for short-term growth, even the most uncompromising advocates wonder what could be the next.
Even Van-Petersen’s prediction of a $ 100,000 Bitcoin in 10 years, which he delivered in May, now seems less surprising.
Bitcoin prices have recovered since CBOE’s futures contracts were successfully launched, with trading currently attracting $ 17,000 per coin after a decline of less than $ 13,000 over the weekend.