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Analyst Tuur Demeester Says That Bitcoin Price Could Rise Over $50K

2 min reading

Investor and analyst Tuur Demeester says that after halving, the price of bitcoin will not fall below $6,000 and may rise to $5,0000 in the future.

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In a video posted on Messari's YouTube channel on May 18, Demeester said that the most popular cryptocurrency after halving is "back in a bull market", and the bottom line is already behind us and it was in March when the price of bitcoin was $3000-4000

Later in the movie, the investor speculated on how the Federal Reserve could affect the price of Bitcoin. According to him, the low buying power of the USD may decrease the price of bitcoin. 

"I think a price target of like $50,000 is not insane at all... I would even say between $50,000-$100,000." said Demeester.

What will increase bitcoin prices?

“It’s institutions that are interested,” said Demeester, describing the rush to buy BTC as a “land grab phase” among companies seeking investments sperated from traditional form.

After the interview, Demeester posted on his Twitter account that if whales and institutional businesses are able to gather enough bitcoin, another "rally" of bitcoin prices will start.

Other member of the crypto community, BitMEX CEO Arthur Hayes forecasts the future of bitcoin quite differently. He believes that the price of BTC may fall back to $3,000, but he still forecasts that Bitcoin will reach $20,000 by the end of 2020.

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