Bitcoin Price Is In For ‘Super Hyperinflation’ Before It Hits $1M

On November 13, 2019, Marius Landman, a crypto analyst and asset manager, forecasted massive incoming inflation for the Bitcoin (BTC) price before it surges to $1 million.

Landman tweeted that BTC will be unable to reach $1M unless it first goes through ‘super hyperinflation’. 

The cryptocurrency is protected from inflation, which is why miners’ rewards get cut in half and every four years, with the next halving due to occur in May 2020. 

The analyst highlighted the major Bitcoin price decline, as seen recently when its value dropped by 2.6% and 3% at the end of weeks Nov 3rd and 10th respectively.

BTC has also failed for three straight weeks to close above the 3-month trend line sloping downwards from the 2019 high of $13,880.

The inability to pass that mark (currently around $9,335) has weakened the bullish case put forward by the high-volume rise from $7,300 to $10,300 on Oct. 25–26.

Bitcoin’s ‘Subito Motus’ Is Coming

Landman says that Bitcoin’s scale of price movements will be much bigger, which will be stunning for ordinary investors and technical traders. 

In fact, he is predicting two upcoming ‘subito motus’ (‘sudden movements’) of Bitcoin and Litecoin that will surprise the crypto community and leave them ‘scratching their heads’.

Only one more person, it seems, also believes that Bitcoin will hit the price level of $1M – the former antivirus entrepreneur and crypto enthusiast John McAfee. He estimates BTC would reach that by the end of 2020.

Other Bitcoin analysts, such as Fundstrat’s Tom Lee and Max Keiser, go for much more modest forecasts for the maximum BTC price level.

BTC is Expected to Drop Further 

Bitcoin’s recent consecutive weekly losses and numerous failures at key resistance have shifted risk in favour of a drop to around $8,550.

Daily chart indicators over the last few days have turned bearish for the first time in over a month, indicating that a deeper decline is expected in the short term. 

That price analysis seems to support Landman’s case of an incoming (BTC) inflation before the price surges.