Key Takeaways:
- Argentine analyst Carlos Maslatón says bitcoin price could reach $1 million by 2026
- The bold prediction was made at the Latin American bitcoin summit La Bit Conf
El Salvador Hosts a Range of Bitcoin Events
Bitcoin continues to make waves across retail traders, institutions and even whole countries. After El Salvador decided to be the first nation to adopt bitcoin as legal tender, the country became a bitcoin hub. As a result, El Salvador is currently hosting several major events focused on the original cryptocurrency.
One of them, the Lightning Summit, enjoyed high interest from investors and entrepreneurs. Key topics of discussions included widespread bitcoin adoption and improvements of the bitcoin technology.
Now, another large-scale bitcoin conference is taking place in El Salvador. The La Bit Conf, a key crypto conference in Latin America, has brought together analysts, programmers and bitcoin backers from all over the world.
Argentine Analyst Puts BTC at $1M by 2026
Among them, one of Argentina’s early cryptocurrency adopters, Carlos Maslatón, said bitcoin could reach $1 million by 2026. In his comments, he included key remarks over bitcoin past, current adoption cycle, and future outlook.
“The first big wave of Bitcoin goes since it started trading secondarily in the formalized market, 2011, to $1,163 in 2013,” he said.
“That wave is corrected. Markets always correct,” he continued. “That’s why in January 2015 we had that very sharp drop from $1,163 to $157 per Bitcoin.”
Strong Outlook for Cryptos Remain
Furthermore, he explained the drop prior to the 2017-rally was the reason bitcoin accelerated to nearly $20,000 in December 2017.
On this note, Mr. Maslatón made the bold prediction that bitcoin will hit $1 million by 2026. However, before that happens he sees a large correction that could take as much as $150,000 away from bitcoin’s price.
Still, even during the current market selloff, traders are using the drop to buy the dip, relying on strong fundamentals. In more detail, institutional support and growing crypto acceptance are defining this year’s rally.
Presently, bitcoin price hovers above $57,000 after dipping to a monthly low of $55,500 per token.