Warren Buffett expert Preston Pysh believes the price of bitcoin will reach as high as $300,000 following next month’s halving event.
Pysh, who founded the financial learning platform Buffett’s Books, made his comments in a podcast interview on April 22 with host Nathan Lathka.
According to Pysh, the price of bitcoin is going to skyrocket following next month’s halving, with the possibility of reaching $200,000 – $300,000.
He said,
I would tell you that I think the next orbit level is $80,000 to $100,000. Do I think it’s just going to go to that number and stop? Hell no.
Pysh cited electrical expenses and mining costs as a main driver for the price of bitcoin. He also predicted a possibility for the coin reaching mainstream adoption several months after the halving, resulting in the price going higher than current market predictions.
He continued,
It's gonna go straight through that number, and it's probably gonna go to $200,000 or $300,000.
Pysh said if bitcoin failed to meet its “escape velocity” and breakout to his most bullish prediction, the price would likely settle back into the $80,000-$100,000 range until the next four-year halving.
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