Adam Beck: Bitcoin will rise to $ 667,000

Cryptocurrency analyst Thor Demister and crypto punk Adam Beck have suggested that the price of bitcoin BTC $91,003.48 Bitcoin -0.45% Market capitalization $1.8 trillion VOL. 24 hours $2.22 billion could reach $ 600,000 or even more.

Demister compared the current market to the situation in 2017, when many investors lost faith in growth prospects before bitcoin soared to $ 20,000. Now, in his opinion, the market may mistakenly consider the current price level to be a peak, which could lead to a new strong growth.

Adam Beck supported this opinion, calculating that bitcoin could potentially reach a maximum of about $ 667,000. The analyst believes that to reach this level, a significant inflow of capital is needed, in particular through exchange-traded funds (ETFs), which can stabilize the market and strengthen its stability.

Crypto experts note that a steady flow of investments and an increase in the number of owners who do not want to sell their assets can support a long-term bullish trend and lead to a price increase to record highs.

Earlier, VanEck CEO Jan VanEck predicted that the value of bitcoin could reach $ 300,000. In an interview with the US broadcaster CNBC, VanEck noted that the first cryptocurrency will soon update its historical high and continue to grow, as its market capitalization may approach half of gold’s capitalization. According to him, this comparison makes the $ 300,000 target a «balanced forecast.»