Bitcoin (BTC) in the accumulation phase: ready for take-off?

The majority of financial market experts and analysts agree that bitcoin (BTC) will experience exponential growth over the next few years. This growth will be driven in particular by a wider adoption of digital assets around the world. While some of them remain modest and indicate that bitcoin will cross the $100,000 mark within the next decade, others are much more ambitious.

An 8-digit bitcoin, a sharp depreciation of the dollar

Robert Breedlove is the founder and CEO of Parallax Digital, a crypto investment company. He is also a former hedge fund manager. In interview recently granted to Altcoin Dailyhe said that the price of bitcoin will reach $12.5 million in 2031. According to him, this explosion in the value of BTC will be caused by a sharp drop in the value of the US dollar, among other things.

“I think the US dollar will be at basically zero, or close to it, by 2035. I know the DXY [indice du dollar américain, Ndlr] has risen a lot recently, but I expect it to become volatile before crashing. If so, I have a bitcoin price prediction of $12.5 million, by 2031”he said.

Robert Breedlove joins a handful of analysts who see BTC reaching $10 million, in the short term. Furthermore, he estimates that with the announced depreciation, $12.5 million in 2031 would only be the equivalent of about $1 million today.

“To better understand, take the price of bread and milk in 2020, multiply by 12. The result represents what these things would cost in this hypothetical future of 2031. So if bread is $5 a loaf in 2020, it will be $60 a loaf in 2031. The price of bitcoin would be $12.5 million. But that’s only a million dollars compared to today’s purchasing power”he explained.

Given the state of the global economy and the Fed’s monetary policy, Robert Breedlove estimates that the dollar will approach zero by 2035. This tumble will propel bitcoin to new heights. By 2031, the flagship crypto could, he says, be worth $12.5 million.

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