Saxo Bank Analyst Give Bullish Prediction Of Bitcoin Price

Kay Van-Petersen, a famous Bitcoin bull and global macro strategist at Saxo Bank has predicted that the price of Bitcoin will reach “$50,000 – $100,000 within the next six to 18 months.” In a small interview given to Bloomberg, Petersen indicated that the huge inflow of money from institutional investors shall help in providing a positive stimulus to hike up the price of Bitcoin further up the price ladder.

Peterson has forecasted that, “We’ll get a cascade of ETFs, mutual funds and other investment vehicles breaking out,” describing the price tag of $100,000 to be a highly “prudent” prediction. The analyst also predicted that the growth phenomenon will infiltrate into all forms of cryptocurrencies along with Bitcoin. He was highly hopeful about Ethereum which he believes to be the next in line contender especially for ETFs.

Van-Petersen was also quoted as saying:

“The astonishing thing – mindblowing if you will – is that you take a step back and look at the price appreciation… a lot of this has happened without traditional institutional money, and that’s basically going to be coming on board over the next six to 18 months.”

With Bitcoin slowly taking the shape of an ultimate financial safe haven, hard-line proponents are gaping in wonder and pondering about what would happen next. Even the prediction made by Petersen of Bitcoin reaching $100000 within the coming ten years doesn’t seem to surprise the general crowd anymore. And given its incessant growth surge, it’s absolutely possible. The price of Bitcoin had started experiencing a meteoric rise since the launch of CBOE futures last Sunday which can very well lead the Bitcoin price into $17000 category after its weekend dip to a $13000 figure.

Also Read:- Bitcoin Price Predictions For Year 2018 And Ahead By Bitcoin Experts

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