Bullish sentiment for cryptocurrency continues with Mohamed El-Erian.
The Bulls are Lining Up
John McAfee for example believes Bitcoin could be worth $1 million by 2020.
“Why don’t we look at the last Bitcoin? We have thousands of people to mine one coin. What is that coin going to be worth? Maybe billions. Mathematics doesn’t lie. Say what you want, mathematics doesn’t lie. If it’s not a million dollars in 2020, it has to be. The end of 2020, December. That’s my prediction, I’m going to stand by it… it is the number 1 coin for processing transactions. Run the numbers.”
In addition, Fundstrat’s Tom Lee says it can reach $20,000 by the close of 2018.
Tim Draper says the market cap of cryptocurrencies will increase 400 times over the next 15 years to $80 trillion.
Tim Draper said Bitcoin is not some kind of fad and is “the future of the world,” he explained to CNBC. “There are many many reasons and many many uses.[….]This is going to be a major change in the future of the world.[….]It’s a major breakthrough and I can’t wait for us to be sort of one world with our currencies as opposed to having it tied to some political influence or another, or some government just decides to inflate or decides that they’re just going to take a bunch of currency.[….]This is a great opportunity for the people to run their businesses unfettered by political whims.”
Binance CEO Changpeng Zhao believes cryptocurrency still has plenty of room to grow by more than 1,000%.
Even Galaxy Digital CEO and billionaire, Michael Novogratz says cryptocurrency prices have bottomed. John Pfeffer, a partner at his London-based family office Pfeffer Capital, has a Bitcoin target of $700,000.
Now, Mohamed El-Erian is Bullish
Allianz Chief Economic Advisor, Mohamed El-Erian is bullish on cryptocurrency, as well.
“Crypto isn’t dead, and, certainly, the underlying technology is not dead. We’re going to see more widespread adoption, by both the private and public sector, of the blockchain technology and related technologies,” he says, as quoted by Oracle Times.
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