Dan Held of Kraken said the cryptocurrency space is matured for Bitcoin to initiate a major long-term bull run.

Lark Davis (also called Crypto Lark) interviewed Held and he gave reasons why he believes it is time for Bitcoin to do better.

According to Held’s argument, Bitcoin has been able to weather the worst of the coronavirus pandemic without any form of intervention.

He mentioned the halving and a massive macro backdrop which involved the printing of USD by the U.S. Fed and the treasury as the factors which should make Bitcoin better at the moment. I have waited eight years to see this, he said.

Held stated that the growth of the cryptocurrency space over the years is immense, mentioning the increase in the number of investors holding Bitcoin and more mainstream coverage.

The current macro backdrop will prompt Bitcoin based on its limited aggregated supply of 21 million units. He said that Bitcoin might start a “super cycle” and surge above even the most bullish predictions.

He said we could see the predictions of the classic models pointing to $80k to $300k per Bitcoin happen. It is possible to see something a little crazier and “I call this the Bitcoin super cycle,” he said.

Bitcoin will continue to surge above $300k if the world is truly in fear of money devaluation; Bitcoin could reach $1 or $2 million, said Held.

Although Held is optimistic, he warned that the world’s leading cryptocurrency is not for everyone, and the people interested in investing in it should be ready to lose 85 percent of its value at any time. He shared his experience; he lost his money three times.

Held talked about Satoshi’s hypothesis that the severe volatility of Bitcoin would bring people into it, and the price increment will bring more awareness.