Recently, the author of the 2013 book called “Bitcoin Explained Simply” Mark Jeffrey had quite an interesting prediction to make regarding the price of BTC.
He said that he sticks by his previous prediction that Bitcoin is set to reach a “third act” that will bring the coin to the price of $250k.
During The Next Billion Seconds podcast, he compared the crypto bear market to the crash of the dot-com bubble that began to burst back in 2000.
“I think this is very much like the dot com boom and bust cycle that we saw in the late 1990s, early 2000s. We’ve just gone through the analog of that cycle in the crypto universe in a compressed time frame,” he said.
Jeffrey continued and explained that “I think people got very over exuberant and probably extended themselves a little bit too far, and then they got scared. And don’t forget that the [traditional] markets have also experienced a lot of crashing and volatility, so it’s not isolated to just crypto. So I think that is affecting the crypto universe to a certain degree.”
He said that this is not at all the end of the story, but only the middle part, “the second act.”
Tom Lee’s BTC prediction
Tom Lee, Fundstrat co-founder and head of research, also had a positive outlook for Bitcoin and crypto this year as you can see in his tweet.
CRYPTO: we see 9 incremental improvements in the landscape that ultimately support higher prices.