Bitcoin’s current rally ‚is just the beginning,‘ explains Mati Greenspan

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Mati Greenspan, founder of Quantum Economics: „There is a real possibility of days with increases of 250% or more“

In a newsletter published yesterday, the founder of Quantum Economics explained that Bitcoin’s recent rise above $23,000 (an increase of about 29% in one week) does not necessarily mean that the market is „overheated“ and destined to crash, as it did in December 2017.

„In our view, this is just the beginning,“ Greenspan said. „We probably shouldn’t use comparisons to the past to determine possible percentage increases.“

Continuing, he added:

„If demand continues to rise and supply continues to fall, there is a real possibility of days with increases of 250% or even more.“

Greenspan pointed out that „no one can predict“ when (and if) Bitcoin’s (BTC) trend will turn bearish, but the price could reach „anywhere between $23,800 and $1 million per coin.“ He also didn’t rule out what Guggenheim Partners‘ Scott Miner suggested, that the crypto asset „should be worth around $400,000.“

„Now that we have surpassed the previous all-time high, there are no levels left on the chart that could indicate where the price will end its climb,“ Greenspan explained. „Eventually, it will reach its high. There’s no doubt about that.“

Other figures in the crypto sector, such as Binance US CEO Catherine Coley, see Bitcoin’s current bull run as evidence of its sustained growth:

„While the Fed and other government agencies around the world seem not to care about the consequences of inflation on fiat currencies, we will continue to see the consolidation of the argument for diversification into BTC, and the price will surpass fundamental technical levels.“

At the time of publication, Bitcoin’s price stands at $23,060, after a 9.2% increase in the last 48 hours.