Although BSV’s Craig Wright (who claims to be Satoshi Nakamoto) criticises Bitcoin, his sister (also a crypto trader) has made a bullish case for Bitcoin. According to Lisa Edwards’ estimate, the price of Bitcoin could hit $142,760 in a couple of years.
On 16 February, Edwards published a chart on Twitter that appeared to forecast the above price target with the aid of trend lines.
Edwards clarified its forecast of Bitcoin’s future price with the aid of the “Elliott Waves” (EW) theory, which predicts patterns based on investor psychology. She estimated that the commodity would first hit $90,000 this May, after which the price of Bitcoin would fall to $55,000 in January 2022.
According to Edwards’ price study, by March 2023, Bitcoin would reach the $142,000 range. At the same time, Edwards concluded that the price of Bitcoin is more likely to “take some time with corrections in between” before it hits those highs.
However, when one Twitter user asked her what would happen at the end of the so-called supercycle, Lisa Edwards thought that the “bear market” might follow.
Earlier, JPMorgan analysts estimated that Bitcoin could grow to $146,000 in the long run. Even Guggenheim’s Global Chief Investment Officer, Scott Minerd, continues to believe that the price of Bitcoin will hit $400,000.
Contrastly, Edwards’ brother Craig Wright thinks that Bitcoin is a Ponzi scheme, but she argued that it wasn’t. Alongside the map, Lisa Edwards wrote that cryptocurrencies are here to stay and that we were still in the early stages. She also hoped that the market would “continue to grow,” but more importantly, Edwards explained:
“Why BITCOIN is not a PONZI is the strong demand within the market currently, and with demand we achieve growth.
As long as DEMAND is high and increasing, and Bitcoin SUPPLY which we know is fixed or limited, the price will continue to grow.”
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