$67,193: Veteran Crypto Trader Explains His Oddly-Specific Bitcoin Price Target
Yashu Gola's original article for www.ccn.com reduced by 53%
Veteran trader Peter Brandt has an oddly specific bitcoin price target - $67,193. For Brand's analysis to come to fruition, one must assume an inverse relationship between how central banks view gold and how they view bitcoin. At the same time, a bank could short other assets to increase its bitcoin and gold reserves.
Central banks are more likely to dump the US dollar before gold, even if they do eventually begin loading up on bitcoin. By the time that happens, bitcoin may already have surged past the $67,193 price target suggested by Brandt. Why would a central bank treat bitcoin like a reserve asset when its value goes haywire every other day? Just don't expect central banks to dump all their bitcoin for gold.
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CN [too long; didn’t read]
Summarised crypto news.