Bitcoin (BTC) hitting new all-time highs by Christmas is beginning to look conservative, but one analyst called current levels back in August.
As noted by consumer investment service Swan Bitcoin on Nov. 18, the cofounder of The Investor’s Podcast Network, Preston Pysh, predicted 90% end-of-year returns for BTC/USD when the pair traded at $11,400.
Pysh: 2020 gains could be “insane”
“You should be making a new all-time high by Christmas 2020. That means we’ve got 80-90% upside from here, which is insane, right because there’s not that many more months between now and Christmas,” Pysh said during an episode of the company’s Swan Signal podcast.
“So to think that that much of a jump could occur between now and then is going to be a dramatic, dramatic narrative that I think very few are ready for.”
He added that gold would fail to match “anything like” Bitcoin’s growth, something which since came true as the precious metal