Expert: Bitcoin Price Will Soar to $750,000


Joe Burnett, Senior Product Marketing Manager at Unchained Capital, predicts Bitcoin will hit $750,000 in a YouTube video. Burnett believes the market may be undervaluing Bitcoin this cycle, losing sight of its global financial ecosystem context.

Why Bitcoin Could Reach $750,000

Burnett addresses a major market analysis mistake: comparing Bitcoin's current cycle to its past without considering its changing market environment. “I think it’s possible that many people are underestimating Bitcoin this cycle,” Burnett said, underlining the need to see Bitcoin in the context of global wealth.

Burnett detailed the Rational Root HODL approach on the podcast “What Bitcoin Did.” The model predicts a pivotal moment in 2020, when Bitcoin's third halving limits the quantity of fresh bitcoins distributed to miners for confirming transactions.

Burnett says, “This model is fascinating because it shows a logical inflection point in 2020 around the third halving. It shows that illiquid supply as a fraction of overall supply was at an all-time low and has been progressively rising subsequently. He believes this indicates a trend toward long-term Bitcoin ownership over mining and speculation.

Burnett claims Bitcoin has entered a new phase with less liquid coins beyond 2020. “Until the third halving, Bitcoin was really just distributing coins via proof of work mining; almost 90% of all coins were mined by 2020,” he says. After halving, coin creation decreased, causing a gradual shift from a freely circulating supply to a more closely held asset.

Burnett compares his estimate to gold, a strong store of value. He disputes this by pointing out gold's economic faults, specifically its yearly supply rise of 1% to 2%, which creates sell pressure. Since gold isn't rare like Bitcoin, it has a negative feedback loop. Burnett notes that hundreds of billions of dollars of fresh gold are produced yearly

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