Carlos Maslatón, an early cryptocurrency adopter from Argentina who previously worked as head of treasury at cryptocurrency wallet Xapo, has revealed he believes the price of bitcoin could hit $1 million by 2026.
At La Bit Conf, a key cryptocurrency conference in Latin America, Maslatón made the price prediction, which he has been defending for a while. During his presentation, the Argentine technical analyst and lawyer predicted the bull market that started in November 2018 would continue until it hit $1 million in 2026.
The cryptocurrency’s price, he said, would endure a significant correction before reaching that target, according to Benzinga. Per Maslatón, bitcoin’s “first big wave since it started trading secondarily in the formalized market” saw it hit $1,163 in 2013, and led to a correction that saw BTC trade slightly above $150 in 2015.
That drop, he said, allowed BTC to move up to $19,000 in December 2017 before entering a year-long bear market. On March 12, 2020, a new rally started that will see bitcoin go from $3,850 to $399,750 high in two years.
To Maslatón, the price of BTC will then endure a heavy “leveraged cleansing correction” that will take $120,000 to $150,000 away from its price. Only then will the cryptocurrency skyrocket to hit $1 million.
The Argentine analyst’s prediction is among the more bullish ones out there. As CryptoGlobe report, a bitcoin price prediction made months ago has proven to, so far, only be off by less than 1% on its intended targets, prompting followers to claim it’s “amazingly accurate.” It sees BTC hit $135,000 by year-end.
The CEO of Celsius Network sees BTC hit $140,000 to $160,000 this year as the cryptocurrency is a “very good” store of value and should be used as such, and not to pay for everyday transactions.
Similarly, analysts at JPMorgan have recently published a deep dive into the cryptocurrency space and renewed in their analysis their $146,000 per bitcoin price prediction in the long run, if the cryptocurrency’s volatility drops and institutional investors prefer BTC over gold.
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.
Featured image via Pixabay