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

Influential Crypto Analyst Says Bitcoin Could Reach $5 Million – But Most Traders Will Lose Money

by Daily Hodl Staff
October 4, 2020
in Bitcoin, Trading

A well-known Bitcoin influencer and analyst just gave one of the most bullish Bitcoin predictions on record, saying the top cryptocurrency could skyrocket to $5 million.

The pseudonymous analyst, known in the industry as Carl the Moon, has a collective following of 170,000 on Twitter and YouTube. In a new interview with Coin Post, he says the bold prediction depends on the future of fiat currency.

“If you look at the currency supply of the world, it is currently valued at $100 trillion. If Bitcoin takes over this whole pool of liquidity, this fiat money pool, then this means that Bitcoin could potentially take over this market cap and that would put Bitcoin at approximately $5 million per Bitcoin.”

Carl says he believes the current global economic landscape is favorable for the number one cryptocurrency. 

“I think it’s obvious that Bitcoin is eventually going to break $20,000. We’re seeing central banks printing currency like never before. And what we’re seeing is [an] historical amount of currency printing, this is the exact scenario that Bitcoin was created for. Fundamentally, Bitcoin is looking extremely bullish, much more bullish than on a technical level.”

While the pseudonymous analyst is bullish on Bitcoin, he says that most traders will likely lose money trying to time BTC’s price action.

“I think that people that hold Bitcoin will be the biggest winners in the world because Bitcoin has been the best performing asset of the previous decade. It will continue to be the best performing asset of this decade in my opinion.

Traders can make more money than holders if they actively trade and if they know what they’re doing. But people that are not experienced tend to lose money when trading. Approximately, 80 to 90% of people that trade actually lose money over time.”

In the short-term, the analyst says Bitcoin just needs to break $14,000 in order to start the big uptrend. 

“I believe Bitcoin is currently in a bull market but I’m not so sure that we have started the big Bitcoin bull run just yet… The big question is will Bitcoin be able to break this previous high. There was a high at approximatey $14,000 back here in June – July 2019. I think that when we break this level, then I can say for sure we are guaranteed in a bull market.” 

Carl, who, says Bitcoin must stay above a crucial technical indicator to have a chance to breach key resistance of $14,000 and then move on to $20,000.

“For us to reach $20,000 obviously we’re going to have to reach $14,000 first, but more importantly we have to break it. If we get rejected here, then that would be a bad sign…

If Bitcoin can hold above this 20-weekly moving average here, then the 20-weekly might look something like this and we will see the Bitcoin price maybe do something like this. In that case, maybe we could see Bitcoin break above $14,000 before April 2021. When we break the $14,000, then I think we’re going to see a huge candle. We’re going to see a massive move up to $20,000.”

I
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.
Submit a Press Release

Industry Announcements

  • Devour and AlterVerse Partner To Bring the World’s First Web 3.0 Food Ordering Marketplace to the Metaverse
    June 1, 2023
  • Bumper’s Breakthrough DeFi Protocol Set To Reshape Options Pricing
    May 31, 2023
  • MetaZone Secures Funding To Expand the World’s First Tokenized App Platform for the Metaverse
    May 30, 2023
  • The QWAN Launch – A Token for the Global Gaming Industry
    May 30, 2023
  • Bitcoin.com’s VERSE Token Now Available for Trading on Kucoin
    May 29, 2023
  • Huobi Set To Launch Trading Service in Hong Kong
    May 26, 2023
  • Stably Launches #USD As the First BRC20 Stablecoin on the Bitcoin Network
    May 25, 2023
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$27,002.23
$27,002.23
0.29%
Ethereum
$1,873.42
$1,873.42
0.38%
Cardano
$0.366944
$0.366944
2.21%
XRP
$0.508891
$0.508891
0.93%
Dogecoin
$0.072045
$0.072045
0.53%

Spotlight

  • Bitcoin To Explode by Over 75% Once It Overcomes Critical Level, Predicts Jason Pizzino – Here’s the Timeline
    May 25, 2023
  • Ethereum (ETH)-Based Altcoin Is One To Watch As Whale Transactions Explode: Santiment
    May 25, 2023
  • Trader Known for Calling Bottoms Says Bitcoin (BTC) and Ethereum (ETH) Set for Move Lower – Here’s His Target
    May 25, 2023
  • Bitcoin Price Has Yet To Catch Up to These ‘Crazy Strong’ Fundamentals, Says InvestAnswers
    May 25, 2023
Coinfest Asia Banner
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