Crazy Bitcoin Price Prediction! BTC Price (Explosion) Is Inevitable!

Crazy Bitcoin Price Prediction! BTC Price (Explosion) Is Inevitable!

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In this video, Robert Breedlove shares why he believes that Bitcoin will surge to as high as $307K this year. Here is the summary of the interview:

It must be noted that nobody has a crystal ball, so not all predictions will be right. But we're still on track for a large all-time high in Bitcoin which would be above the previous high of $64,000. However, most people couldn't foresee the mass mining exodus out of China. This is a net benefit to Bitcoin in the long run because mining will now be decentralized outside of a single jurisdiction. But in the short run, it has a big impact on hash rate forces because there has been much selling to cover the logical expenses of moving the miners.

Breedlove still thinks his $307,000 projection is still achievable. But with the caveat that the price cycles will start to break down. Every time the new issuance rate of Bitcoin is contracting by 50%, it's driven by the supply and demand dynamics of the halving cycle. But with each contraction in the new issuance, it becomes less of an overall component of the selling of Bitcoin. So, the miners are selling less Bitcoin to cover costs over time.

There will be much inflationary pressure on the US dollar, either late this year or early next year. In this world, uncertainty is increasing more and more. We see many people sitting on the sidelines. Many individuals and institutions are sitting in cash.

Banks are also heavily positioned in cash. Everyone is expecting some downward movement if central bank policy intervention does not keep its current pace. There is now much inflationary pressure on the dollar and it's loosing purchasing power relative to goods and services. However, the US dollar will continue to strengthen for some time until we see some shocks.

Should we have any inflationary shock, people will move back to the market and that could be enough to decrease the deflationary pressure on the dollar. So, Bitcoin will resume its rally and we'll get to as high as $307,000. But may not happen until the third or last quarter of this year.

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