Bitcoin News

Bitcoin Price to Reach $50,000, Marketcap to Cross $1 Trillion, Says Crypto Kanoon Chief

Crypto Kanoon chief and popular crypto influencer of India Kashif Raza posted a new video on Twitter, in which he claimed that BTC price will soon reach $50,000 and the total market cap of Bitcoin will stand at a whopping $1 trillion. To substantiate his claims, he quoted hedge fund manager Paul Tudor Jones, who recently said that they have invested 1% of their funds in Bitcoin, and many other funds are expected to follow suit.

Kashif also quoted Messari.io, a research company that conducted a theoretical study about the impact on the market if Paul Tudor Jones’s indications happen to be true.

Kashif also quoted

He also added that hedge fund managers will definitely have the first-mover advantage, along with the Retirement Funds, which have a humongous market in the US itself. Fascinatingly, such predictions have always been doing rounds in the crypto space, though none of them materialized.

For a very long time, influencers like Max Keiser and John McAfee have predicted that Bitcoin will reach a $1 million price point in a few months. However, McAfee backed off his prediction in the latter half of 2019, saying that Bitcoin is finished. Likewise, price predictions of $50,000, $75,000, $100,000, etc., have been made time and again, and none of them turned out to be accurate.

That being said, none of the previous claims had as much substance as Kashif’s claim, since it is backed by thorough research. This makes it interesting even more, as investors across the globe would be looking for newer investment opportunities due to the economic crisis knocking on the door.

Adam Billingsley

Adam Billingsley is a lead blockchain news writer at CryptonewsZ. His work revolves around the applications of blockchain technology and cryptocurrencies like bitcoin, Ripple, and other coins.

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