Bitcoin could hit $1m by 2035, says analyst

19 Nov 2020

Bitcoin could reach $100,000 in five years and $1 million by 2035, according to the CEO of Nugget’s News, Alex Saunders.

During an interview with Cointelegraph Markets analyst, Michaël van de Poppe, Saunders said the current conditions are a “perfect backdrop” for fresh highs.

He stated: “It’s either going to keep going like right now in the next few weeks and get to $20,000 very quickly, or it’s going to have its bit of a range now and then hopefully positive into next year.”

Saunders made the prediction following BTC/USD recent highs of $18,400, swift gains and a weekly performance delivering up to 15% returns.

Looking to the future the Nugget’s News CEO added that there was a way to go yet for Bitcoin to hit six or seven figures, but a combination of money and adoption meant that there was now “no way out.”

“I honestly think that Bitcoin will hit $100,000 in the next five years, and then it’s going to become about, ‘Well do they actually try and shut it down, or how do they regulate it and trade it?’” he told Van de Poppe.

“And if it’s allowed to just continue on its mission and absorb all the money from around the world and become a global reserve currency… I think we can get to $1 million per coin in the next, whatever that is, 15 years,” he added.

Furthermore, in regard to Ether, Saunders said there is a strong chance that record highs for ETH/USD are a year away or less.

Taking into account the current performance, this would require close to 200% of upside from press-time levels of $470, reports Cointelegraph.

Van de Poppe agrees that the future is bright for Ether, saying on Twitter on Wednesday: “Next cycle ATH for ETH probably between $10,000–20,000.”