Teeka Tiwari, well-known financial analyst, Palm Beach Letter editor and New World Money author, has become a name in the cryptocurrency industry. With bullish Bitcoin predictions and alleged millions made from cryptocurrency investment, he holds a reputation for his opinion and advice in the market.

Tiwari’s rise to fame came about in 2015 when he accurately predicted the boom of Bitcoin, urging investors to consider adding cryptocurrency to their portfolios. With experience in hedge fund management, Tiwari has a wealth of insight into saving, investment, and portfolios designed to combat falling economies. As Bitcoin has recently boomed, Tiwari’s insights are proving beneficial once more to the market.

As the world has suffered from the global pandemic, Bitcoin has gained health in both adoption across the world and the value. With institutional investment emerging stronger than ever before, the US dollar sinking, and a rise in regulations, the crypto industry seems to be headed for a strong bull run – one which Teeka Tiwari has predicted.

Teeka Tiwari Bitcoin predictions

In a recent call with Chris Lowe of Legacy Research Group, Tiwari told that he predicts Bitcoin will reach $60,000 USD or $70,000 USD “a lot sooner than most people realize.” Without putting any time frames on the token’s increase, he offered that the industry will reach multi-trillion-dollar caps, similar to the high-earning stocks:

“You will see cryptocurrencies with multitrillion-dollar market caps – like how you now see stocks like Amazon and Apple with multitrillion-dollar market caps.”

He added that he thinks the current rally is just the beginning of the price surge: We’re in maybe the second half of just the first inning of this bull market. You’re going to see bitcoin reach $60,000 or $70,000.”

Factors which could cause Bitcoin to surge

Institutional investors are increasing

Institutions like Grayscale Investment and Square are adding massive amounts of Bitcoin to their assets under management (AUM). As more Bitcoin is bought by institutions, Bitcoin demand increases which reduces the amount of cryptocurrency available. With the capped supply of Bitcoin, the demand ultimately sends the price upwards.

The US dollar is unstable, and Bitcoin is a clear hedge

With the global economy battling to regain strength, fiat currencies are struggling. The US dollar, in particular, has had a hard time as a result of the global pandemic with broken supply chains and small and medium-sized businesses battling to add to the economy from national lockdowns. To combat the falling value of the US dollar, investors have pooled their funds into hedge assets. Gold and Bitcoin have seen fresh investors as a result, which strengthens the price of the cryptocurrency and commodities market overall.

FOMO is driving the market upwards

The increasing price of Bitcoin has attracted a number of new investors (institutional, retail and large-scale whales) to the market as a result of the fear of missing out (FOMO) on potential profits. As new investors flood in, the price rises, which causes a cycle of increasing value.