„There is a distinct possibility that we may see a few days of 250% earnings, or even more“.
In a newsletter released today, Quantum Economics founder said that Bitcoin’s recent high of over $23,000 – a gain of about 29% in one week – does not necessarily mean the market is „overheating“ and heading for a crash like December 2017.
„In our opinion, things are just beginning,“ Greenspan said. „We probably shouldn’t use old patterns when it comes to determining what types of percentage gains are possible.
„If demand continues to increase from these levels and supply continues to tighten, there’s a distinct possibility that we may see a few days of gains of 250%, or even more.
Greenspan said there is „no one on the planet who can predict“ when Bitcoin (BTC) will go down, if ever, but the price can be „any number between $23,800 and $1 million per currency“. He also hasn’t ruled out Scott Miner’s claim from Guggenheim Partners that the crypto engine scam asset „should be worth about $400,000.
„Now that we’ve surpassed previous highs, there are no remaining levels on the chart that can indicate where the price can go to the top,“ Greenspan said. „But it will end at some point. You can be sure of that.“
Other figures in the crypto space, such as Binance.US CEO Catherine Coley, also see the current Bitcoin race as evidence of sustained growth:
„When the Fed and other governing agencies around the world are apparently OK with the effects of inflation on fiduciary currencies, we will continue to see the thesis of diversification in BTC’s rise, with the price breaking through the main technical levels.“
The price of Bitcoin was US$22,863 at the time of publication, having risen 9.8% in the last 24 hours.