This post was originally published on Cointelgraph
Veteran trader Peter Brandt has pushed back on one of Bitcoin’s most aggressive long-term price targets.
“2030, we don’t go to a million,” Brandt tells Cointelegraph on the Chain Reaction show.
Despite strong calls from Coinbase CEO Brian Armstrong and ARK Invest CEO Cathie Wood for Bitcoin to reach $1 million within the next four years, Brandt says that timeline is nowhere close to realistic.
Brandt argues that the path to $1 million depends on fundamental changes in the global monetary system, rather than greater adoption or speculative momentum.
“For Bitcoin to go to $1,000,000, that’s basically, let’s say, a 10x move for fair value,” he says, explaining that the purchasing power of the US dollar would need to decline by a 5x value, a scenario he doesn’t see as likely over the next four years.
Peter Brandt spoke on Cointelegraph’s Chain Reaction show, which was published to X on Friday. (X/Cointelegraph)
“Then you get the volatility and both sides of fair value by Bitcoin, which at some point would put it up to a million dollars,” he says, adding:
“We’ll have to see real destruction of fiat currencies before that happens.”
“So at some point, we’re going
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