Analyst Calls 2,400% – 4,900% Bitcoin Moonshot, Says BTC and Crypto Will Benefit From Global Monetary Madness
The founder of Albright Investment Group says the total amount of currency in circulation is poised to double in the US in the coming years, setting the stage for a massive Bitcoin and crypto rally.
In a new piece on Seeking Alpha, Victor Dergunov says BTC’s scarcity and max supply of 21 million coins will come into focus when central banks around the world roll out new rounds of quantitative easing (QE).
He expects the US to enter a recession, fueling the Fed to implement far more extreme “real QE” that will double the country’s monetary base from $4 trillion to about $8 trillion by 2025.
As inflation increases, Dergunov says he thinks the use of crypto as a currency and store of value will boom, bringing the overall crypto market cap as high as $10 trillion.
“Right now, it is only worth about $200 billion, thus we could see an increase of roughly 2,400% – 4,900% from current levels. Furthermore, Bitcoin currently represents about 66.5% of the entire cryptocurrency complex’s market cap.
Even if Bitcoin’s dominance declined to 50%, we may be looking at a market cap of around $2.5 – $5 trillion for Bitcoin under such a scenario. This would put Bitcoin’s price at roughly $140K – $280K per coin within the next 5 years or so.”
Although Dergunov says his scenario is plausible, he also notes there are a number of roadblocks standing in the way of such a pivotal shift in the price and adoption of cryptocurrency.
He points to potential efforts by the US and other governments to ban crypto, as well as scaling concerns and security issues for crypto exchanges and wallets, as critical factors that could hold the market back.