January 28, 2021

Tone Weiss: Bitcoin will cost more than $ 1 million in 2044

On March 30, a live trader of Bitcoinization, famous trader Ton Weiss, told what he expects from the price of the first cryptocurrencies in the near future and in 20 years, as well as which one sees the entire crypto industry in the future.

The trader still believes that the minimum value of the bitcoin price has already been passed. He does not expect a repeat of the collapse of March 12-13:

“I think the market will fall a little more, but the worst has already happened to him. On the contrary, I'm trying to catch a good time to buy bitcoins. "

According to him, measures to inject into the economyadditional funds adopted by many central banks will not lead to a “giant depression”. In the long run, this will harm those who choose government money, and at the same time play into the hands of bitcoin holders.

In the meantime, "the global economy is losing more money than they print." According to Weiss, in one or two years the economy will calm down and inflation will come to the place of deflation.

Ton Weiss believes that after halving bitcoinwill demonstrate growth, but not immediately. Nevertheless, a panic may begin on the market - people will begin to worry that miners are not earning anything and are leaving the industry. This, according to the trader, can lead to a short-term drop to about $ 4,500 within a month after halving the block reward.

However, disabling unprofitable devices will not destroy the unique properties of bitcoin, the trader believes, and growth will resume.

In his opinion, the Bitcoin exchange rate should not fall below $ 3850:

“I expect that we will now rise to about$ 6800 and then, maybe, we’ll drop to $ 6300. I think that the price of bitcoin will stay at about $ 6,000 to $ 8,000 until the end of the year, and then we will begin to rise. ” - said the trader.

At the same time, you should not expect that Bitcoin will becost $ 20,000 in a year, Weiss is sure. The probability of such a scenario last week was announced by Dan Morehead, CEO of Pantera Capital cryptocurrency hedge fund.

“This year, people will lose so much money because ofthat they no longer have a job. Nobody will run to buy bitcoin right now. And because so many will miss the opportunity to buy it at a price between $ 4000 and $ 6000, for example, " - noted Tone Weiss.

In his opinion, such opportunities will not beso much. At the same time, he believes that the level of $ 20,000 can be broken by the end of next year. Moreover, the long-term expectations of the trader exceed the recent forecast of Kraken experts, who suggested that in 2024 bitcoin will cost $ 350,000.

“I expect that after more than 20 years, one bitcoin should cost much more than $ 350,000. By this time, bitcoin should become the main world currency,” Weiss stated.

He suggests that this will take at least ten years, and instead of saying how much one bitcoin costs, we will check how much one satoshi costs:

“I expect that one satoshi should cost about $ 1. And this means that bitcoin will cost more than $ 1 million. That's what I expect in 2044. "

If by this time Bitcoin does not become a world currency, it will remain a collectible product, but it will cost less, Weiss added.

As for the digital currencies of central banks, he believes that electronic money now is their analogue.

“No matter what they call their new currency, all they are trying to do is remove paper money,” sure trader.

Ton Weiss also does not see the possibility of creating another decentralized asset that would become an alternative to bitcoin:

"It's almost impossible. Maybe in 20-30 years someone will come up with a serious new technology. All projects after Bitcoin were centralized. It’s impossible to make a new bitcoin. "

Recall, recently, Ton Weiss suggested that the likelihood of a drop in the rate of bitcoin below the recent minimum of $ 3800 is 20-25%.