Investment advisor Preston Pysh is convinced that Bitcoin could reach $300,000 after the May halving
“I would tell you that I think the next orbit level is $80,000 to $100,000. […] It’s gonna go straight through that number, and it’s probably gonna go to $200,000 or $300,000.”
Pysh says that electrical expenses have been the main driver of the price. Hence, he expects BTC to start another run in a month or two after the halving.
When asked about such high-flying stocks such as Zoom, Pysh abstained from recommending his listeners to sell them, but he did say that it was something that they should be doing.
Despite being a Warren Buffett expert, Pysh himself doesn’t own any equities at the moment.
He recalled a recent Ray Dalio interview, in which the billionaire hedge fund manager warned about a looming economic depression.
Gold to 2,000?
Back in January, before the novel coronavirus started making headlines around the globe, Pysh predicted that Bitcoin would significantly outperform gold.
The yellow metal recently reached its seven-year high while its digital competitor is yet to catch up.
Pysh explains that investors are rushing to a currency with a fixed supply that cannot be debased, but he is not certain whether gold can skyrocket to $2,000 in three months.