CIO of BlockTower Capital says Bitcoin could 10x-30x from current levels due to hyperinflation

in LeoFinance2 months ago

The CIO of hedge fund BlockTower Capital says that bitcoin is just beginning a massive bull market rally

In an interview with Cointelegraph, Ari Paul of BlockTower Capital said today that he thinks we could be returning to a high inflation environment like we saw in the 1970's.

And according to him, if we do return to that type of environment, gold could go up about 5x-10x from current levels and bitcoin could go up 10x-30x.

His exact quote:

“If we have a return to something like the 1970s, I think probably gold rallies five to 10X or more, I think Bitcoin probably rallies 10 to 30X or more”

(source: https://cointelegraph.com/news/blocktowers-cio-predicts-hyperinflation-could-send-bitcoin-parabolic )

If you get a chance to watch the video, it's got a lot of interest points from a very smart guy.

Ari Paul knew about STEEM long ago...

I brought an investor into STEEM several years ago that works for an investment firm that has direct involvement with BlockTower and Ari Paul.

In fact, the investor I brought in had Ari's phone number readily available and could get ahold of him any time he wanted.

At that time, BlockTower was one of the largest and most well know hedge funds in crypto.

I tried to get in touch with Ned Scott and let him know about this possible connection for STEEM and the numerous benefits a BlockTower involvement or investment might bring, but Ned never got back to me.

According to my investor friend, he eventually pitched STEEM to Ari himself and Ari said that while it looked interesting, he wasn't interested in the coin as an investment. Interestingly enough, he said BlockTower would be more interested in some sort of equity stake in steemit.com as opposed to buying the coin outright.

Anyways, it's all in the past now as Ned never got back to me, Ari and BlockTower moved on, and STEEM is what it is at this point.

Just thought I would share this little tidbit since Ari Paul is seeing his name in the news again.

Stay informed my friends.

-Doc

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Measured move is 200k-250k ish so it is very possible.

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There are a whole host of indicators and patterns pointing to bitcoin peaking somewhere between $100k and $300k during this next cycle peak. If it gets anywhere close to these numbers I think we will all be pretty happy.

My Target is the 240000-260000 range which is the top end of the logarithmic channel and I believe that this is where we go. Overthrow or underthrow possible each way but this has held true over the past 2 mega bulls

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The big fear...

You set your sell target at $240k and it gets up to $239k and then tanks 82%...

Lol...so true. that is why you ladder your sells on a large position :)

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That's quite a bold forecast! Given the state of the global economy, and the impact that Coronavirus has had and will have, it's certainly possible to see central banks printing money out of control. There's only so much in their war chest saved up, so we could absolutely see this massive gain in BTC as it becomes a more attractive form of representing wealth, either as investments or a currency.

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He's been decent with his predictions in the past. He was saying $50k BTC in late 2017 or early 2018, so he missed on that one.

Ah, interesting. Here's hoping his new prediction will hit the mark, eh? If gold can touch $2,000, then Bitcoin surely could get to $20,000!