Global Macro Economist Shares 3 Perfect Bitcoin Charts With $1M BTC Targets

Tony "The Bull" Severino

Last Updated: May 8, 2020 8:00 pm

2 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Created by industry experts and meticulously reviewed

The highest standards in reporting and publishing

How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

A global macro economist and well-known investor, has shared not one, or two, but three of what he refers to as “perfect” Bitcoin price charts.

Two out of the three charts point to realistic upside targets of $1 million per BTC. Can Bitcoin truly reach a valuation so high?

Realizing Bitcoin’s Long-Term Disruptive Potential

Bitcoin has incredible disruptive potential. It could one day replace all of the world’s money and become the global reserve currency, or it could fail and go to zero. It’s a risk that those who invest in cryptocurrencies are willing to take.

For anyone who did so earlier on, it led to life-changing wealth.

Bitcoin started its life virtually worthless, and over the course of the more than a decade in the market, has reached a peak price of $20,000.

The booming crypto asset after fell into a bear market, but ever since crypto investors have been salivating at what would be possible at the next peak.

Valuation models, charts, and more have all been produced to support theories that Bitcoin price could reach astronomical figures.

Predictions reach as high as $1 million per BTC, although that’s been back tracked on since. Polls across the crypto community also support these incredible valuations.

Economist Shares Three Perfect Charts, Two Point to $1 Million Per BTC

For the most part, these predictions have been pure speculation. Thankfully, a highly-respected macro economist and investor, has shared what he refers to as three “perfect” Bitcoin price charts.

Two out of the three charts point to a valuation of $1 million per BTC.

Raoul Pal is the Founder and CEO of Real Vision Group. He’s known as a global macro investor, investment strategist, economic historical, and more.

With his credentials, it gives any charts shared by the investors that much more credence and validity.

Chart 3 – The Perfect Regression Channel

That gives a 1 standard deviation move to $400,000 and a 2 standard potential to $1m (potential). pic.twitter.com/YV1SUOKWjn

— Raoul Pal (@RaoulGMI) May 8, 2020

The first of the three charts is “The Perfect Wedge.” This formation on the linear scale offers a price target of just $40,000.

The next chart is the same perfect wedge, but “on a log chart.” This one, provides the potential to “run” to $1 million per BTC.

The third and final chart, called the “Perfect REgression Channel” plots a standard deviation to $400,000, but with the second deviation to as high as $1 million.

With two out of three charts supporting prices of $1 million per BTC, could such valuations really be possible?

Bitcoin is incredibly scarce and was designed to only increase in value as the asset is adopted. Meanwhile, USD is heading toward hyperinflation. The perfect storm for Bitcoin to reach such prices is here and now.

Tony "The Bull" Severino

Tony "The Bull" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market.
A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony’s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements.

Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions.

In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony’s expertise to guide their trading strategies.

Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies.

Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders.
His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics.

Tony’s nickname, "The Bull," aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice.

In summary, Tony "The Bull" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.