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Home Cryptocurrency news Bitcoin

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

Tony Spilotro by Tony Spilotro
8 months ago
in Bitcoin, Cryptocurrency news
Reading Time: 2min read
bitcoin one million btc
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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.

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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.

Related Reading | McAfee Just Backtracked From His Infamous $1 Million Bitcoin Price Prediction

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.

Related Reading | Poll Reveals Majority of Crypto Investors See Bitcoin Price at $100,000 to Millions Long-Term

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.

 

 

Tags: bitcoinbtcbtcusdcryptoRaoul Pal
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Tony Spilotro

Tony Spilotro

I'm Tony Spilotro. Behind the pseudonym, I'm a digital media executive and global remote work leader with a decade of content experience and excellent. Here, I explore my newfound passions pertaining to privacy, finance, economics, politics, cryptography, property rights, and other libertarian-esque views. I am a Bitcoin evangelist, maximalist, and educator whenever I can be, helping to spread its message of freedom from government control, monetary policy mismanagement, and passing the buck - literally – to future generations. My journey from a curious retail crypto investor to a serious Bitcoin advocate, trader, and technical analyst is an unusual one, but life-changing nonetheless and has become less about money and more about a long-overdue revolution. While a firm believer in the laws governing math and science, I am profoundly fascinated by the impact of astrology and astronomy including moon and solar cycles and planetary alignment and their ability to influence and potentially predict markets. It hasn't yet clicked for me as to how to put anything to use, but I consider it my current rabbit hole I can't yet dig out of. My perspective of growing up alongside the internet, the dot com era, the Great Recession, and roots in video games collecting coins and rare items caused Bitcoin to immediately make sense to me. Through all of these lenses, I seek to produce content that is educational and entertaining, and I thank you sincerely for taking the time to read what I have to say. Please follow me on Twitter and feel free to drop me a line if you would like to work together.

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