Chris Berniski predicts that Bitcoin will reach $ 50,000 in the next bullish cycle.
Berniski, who is a partner at Placeholder Capital, shared a number of posts on Twitter.
According to him, his prediction takes into account the historical model of Bitcoin, where the cryptocurrency offers a lower return with each subsequent bullish cycle. Berniski claims that even if BTC is 50% less volatile during the current cycle than last, investors can expect a price of $ 50,000 and a network valuation of $ 1 trillion.
The venture capitalist also said that the movement of Bitcoin to $ 50,000 will affect Ethereum. Berniski added that the second largest cryptocurrency could become the object of attention amid the inevitable excitement surrounding such a rise, attracting huge investments.
He pointed out that Ethereum could go for $ 7,500.