Bitcoin (BTC), the world's first and largest cryptocurrency, whose price recently crossed the $40,000 mark after the market corrections could spike 10 times in the next two years, according to Peter Brandt's speculations. The veteran crypto expert and analyst took to Twitter to share his opinion on Bitcoin's price predicting stating that the digital coin could spike a whopping 10 times in its price crossing its present levels in the next two years.
Brandt's prediction came after a user tweeted that the decentralized digital currency will "explode upwards like nothing on this planet."
Analyst Tuur Demeester tweeted, "Bitcoin has long consolidation periods. But when it rallies it explodes upwards like nothing on this planet. Except when Bitcoin rallies, then it sets our hair on fire and leaves the S&P500 in the dust."
"The past two times $BTC advanced 10X or more required an average of 33 months before the next stage of the rocket kicked in. If history repeats itself (which I do not believe it will), the next rocket stage will be ignited in May 2024. What do you all think?" the crypto analyst asked crypto influencers and investors on Twitter, the platform which Elon Musk wants to own. Musk often shares his thoughts about Shiba Inu, DOGE and other altcoins on the rise in the crypto space apart from Bitcoin as the Tesla CEO sees a huge potential in cryptocurrency.
Bill regulating Bitcoin, crypto market in Brazil Expected to be Approved Soon
BTC has been already accepted as a legal payment by El Salvador giving hopes to investors that the digital coin could be adopted as legal payment option in other countries as well. Latest reports suggest that a bill regulating Bitcoin and crypto market in Brazil is expected to be approved in 2022.
"Few understand how dramatically #Bitcoin will alter the course of history. We can only begin to understand the magnitude of this innovation. It's not just on par with the discovery of the printing press, fire, the wheel, and mathematics... it's arguable greater than all of them," tweeted Dennis Porter, the host of @RealDennisShow.
BTC Trading Price
At the time of publishing, BTC was trading at $40,953.87, up by +3.00% in the past 24-hour period, according to crypto trading platform CoinMarketCap.