- The bitcoin price is firmly fixed to support $ 30,000, and the leading cryptocurrency by market capitalization could trip 10x by October 2021, according to Raoul Pal’s Global Macro Investor Report.
The bitcoin price is firmly fixed to support $ 30,000, and the leading cryptocurrency by market capitalization could trip 10x by October 2021, according to Raoul Pal’s Global Macro Investor Report.
GMI’s model uses Metcalfe Value to predict and suggests that the cryptocurrency is currently worth several times under. Could this high target be just nine months away? Here’s what past market cycles have to say about the forecast.
Raoul Pal’s GMI report says $ 300k for Bitcoin before end of 2021
Raoul Pal has decades of global macro investment experience. He regularly talks about Bitcoin and its long-term value proposition. The GMI founder had specifically made predictions about the cryptocurrency before the explosion in the fourth quarter of 2020.
Valuations increased significantly. However, according to a new model from a GMI Report focusing on Metcalfe Value, Bitcoin could go up even more.
The chart includes the GMI Model Metcalfe Value and its proximity to the Bitcoin price. “Value” served as a sort of midpoint for the valuation of the cryptocurrency.
According to the report, Bitcoin is currently significantly below the Metcalfe Value. Past examples of Bitcoin bull markets have always gone beyond Metcalfe Value, but in this case simply capturing the value will increase the cryptocurrency to $ 300,000 per BTC by October 2021.
The value of Metcalfe can suggest more
The project is indeed in line with forecasts by other analysts, firms, and more.Metcalfe marks a peak of around $ 325,000 per BTC.
However, if the Metcalfe Value is indeed correct and the cryptocurrency goes up that much, $ 300,000 as the ceiling would be an extremely prudent estimate. Again, past examples of bull market peaks have always risen beyond Metcalfe Value according to the GMI Report chart.
Prices where previous peaks reached beyond value will put the price of each bitcoin closer to $ 1 million.
If this is the case, buying at any point over the next nine months could be the biggest opportunity of our lives.