Bitcoin will reach $100,000 in five years and $1 million by 2035, said Nugget News CEO Alex Saunders to Cointelegraph.
Speaking in an interview with Cointelegraph Markets analyst Michaël van de Poppe on November 18, Saunders described current conditions as a “perfect backdrop” for new highs.
“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,” he said.
Saunders spoke as BTC/USD came out of the recent highs of $18,400 to move through a broad corridor, which has become $17,700. Gains were fast, with weekly output alone delivering up to 15% returns. Looking ahead, Saunders claimed that there was a way out of six or seven figures for Bitcoin, but that a variation 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.
The predictions tend to be rather optimistic relative to some of the current price forecasts, like the common stock-to-flow series, which expects at least $100,000 by next year. Saunders’ worries regarding legality in the event of large price increases echo those of major investor Ray Dalio, whose comments on Bitcoin earned him significant publicity this week.
In the meantime the outlook is much higher in terms of the biggest altcoin Ether (ETH). Saunders considers that there is a strong probability that new all-time highs for ETH/USD will be a year away or fewer. considering current results, this will entail approximately 200 percent upside from press-time levels of$470.
Like other altcoins, Ether has struggled to imitate recent Bitcoin updates, even though the long-awaited Ethereum 2.0 has been launched and the related roadmap transforming the network is being implemented.
According to cointelegraph.com, Van de Poppe nonetheless agrees that the future is likely bright for Ether, with the next bull run halting only at an order of magnitude above the peak of the previous one. “Next cycle ATH for ETH probably between $10,000–20,000,” he told Twitter followers on Wednesday.