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Tuesday

19 January 2021

Mike McGlone: Bitcoin Likely to Hit $170,000 In Two Years | Live Bitcoin News

Mike McGlone: Bitcoin Likely to Hit $170,000 In Two Years | Live Bitcoin News


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He commented in a recent interview that over the past year, bitcoin has followed a specific pattern of adding a zero to its price following every 12 months.

First off, it’s a bit of a stretch to assume that bitcoin would just add another zero to its price each year.

It was going for about $4,000 at the time, which means that between the end of that year and the following one, bitcoin only added about $3,000 to its overall price.

For bitcoin to add another zero to its price by 2022, it would have to jump up by more than $100,000 within the same timeframe, which seems largely unrealistic as even by 2020’s terms, the currency has only added about $10K to its overall position.

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