The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

Kraken Executive Says Bitcoin (BTC) Could Soar to $2,000,000 in Massive ‘Super Cycle’ – Here’s Why

by Daily Hodl Staff
April 15, 2020
in Bitcoin

The director of business development at Kraken says he believes that the environment is ripe for Bitcoin to begin a major long-term bull run.

In a new YouTube interview with Lark Davis, aka the Crypto Lark, Dan Held explains why he thinks Bitcoin’s time has come.

So far, Held argues, Bitcoin has managed to weather the worst of the coronavirus pandemic without the need for intervention.

[the_ad id="93550"]

“We’ve got a halvening. We’ve got a huge macro backdrop where banks are literally printing a million dollars a second, which happened a few weeks ago with the US, the Fed and the Treasury. And so, there couldn’t be a better moment for Bitcoin than now. I’ve waited eight years to see this.”

The crypto exchange executive says the industry as a whole has grown immensely over the years, citing the rise in the number of investors holding onto BTC as well as an increase in mainstream coverage from outlets like CNBC.

According to Held, the current macro backdrop is fuel for the world’s leading cryptocurrency, considering its limited total supply of 21 million units. Optimistic about Bitcoin’s future, Held points to a contrarian argument that BTC could begin a “super cycle” and move far beyond even the most bullish predictions.

“We’re seeing a scenario where there’s a literal infinite amount of fiat that will be printed, and there’s only 21 million Bitcoin. It’s hard to predict, but long-term, maybe late 2021, is when a lot of the models predict what we might see in historical cycles. The classic models show us at $80,000 to $300,000 per Bitcoin. We could see that. We could see something a little crazier. I call this the Bitcoin super cycle.

We could see Bitcoin enter a super cycle where everyone’s seen that graph of Bitcoin’s price – that log price graph, and you get a little boom bust, boom bust, boom bust. But what if [BTC] went a level step up on a log chart?

If the world truly fears their money being devalued – every institution, every sovereign wealth fund, every central bank – if they all truly fear that, Bitcoin’s not going to stop at $100,000 or $300,000. It could go up to a million or two.”

Despite his optimism, Held warns that Bitcoin is not for everyone, and says anyone considering an investment in the extremely risky asset must be prepared for BTC to lose 85% of its value at any time.

“After you get through your first time of losing 85% of your net worth – that’s happened to me three times. Early 2013, late 2013 and 2017… It’s really fucking hard to hodl Bitcoin. The volatility is so intense…

Satoshi actually hypothesized that Bitcoin’s intense volatility would act as a viral loop bringing people into Bitcoin. He said, as the price increases, more people [will] become aware of it, and wanting to take advantage of the increasing value they buy in, which then further pumps up the price and brings more awareness. And he wrote this before Bitcoin was worth a penny.

So Satoshi very intimately understood human psychology.

And all my bet really is, is will people choose to preserve their wealth? Which is almost unanimously yes. And will they act greedy? And both are kind of one and the same, and I think we can assume humans will act like humans.”

Check Latest News Headlines


 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/sdecoret

Submit a Press Release

Industry Announcements

  • Bunzz Raises $4.5 Million Seed Round To Expand Its Smart Contract Hub for DApp Development
    January 24, 2023
  • Dogecoin and Shiba Inu Better Watch Out – Floki Just Had Three Big Things Happen for It
    January 24, 2023
  • Crypto Marketing – What Initiatives Will Bring More Value and Users in 2023
    January 23, 2023
  • Make Crypto Payments on BChat Web 3.0 Messenger – BChat Integrates Beldex Wallet
    January 22, 2023
  • KEY3.id Supports Multi-Chain Transaction, Partnership With KuCoin Wallet, CoinHub Wallet and Wallet3 To Launch 2023 Lucky Transaction Campaign With Over 30,000 Participants on Social
    January 20, 2023
  • Deposit EUR/GBP at Zero Percent Fees With Newly Launched SEPA/FPS Channels on Bitget
    January 19, 2023
  • Coinbase Lists Kava, Advancing Ethereum–Cosmos Interoperability
    January 18, 2023
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$23,105.19
$23,105.19
1.33%
Ethereum
$1,597.47
$1,597.47
1.63%
Cardano
$0.389393
$0.389393
4.36%
XRP
$0.412401
$0.412401
1.43%
Dogecoin
$0.087631
$0.087631
3.17%

Spotlight

  • Former High-Ranking SEC Official Blasts Crypto Lender Nexo’s $45,000,000 Settlement Deal With US Regulator
    January 20, 2023
  • Little-Known Ethereum Altcoin Soars 106% After Receiving Surprise Boost From Coinbase
    January 23, 2023
  • Crypto Analyst Who Nailed Bitcoin’s 2018 Bottom Warns Binance Coin and One Ethereum Rival Primed for Pullbacks
    January 26, 2023
  • Ethereum (ETH) Rival Launches New Ecosystem Fund Amid Bullish Price Action in Crypto Markets
    January 21, 2023
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX •
Futuremash •
Industry Announcements

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2023 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX

© 2023 The Daily Hodl