CNBC Host Predicts $55,0000 By May 2020
Joe Kernen, CNBC’s host of Squawk Box, has become a crypto hero of sorts who often push Bitcoin amongst his co-anchors and guest and often defends the emerging asset class during debate with regulators, finance elite and crypto skeptics alike.
He believes the stock-to-flow model that helps put a realistic value on Bitcoin which he expects to reach $55,000 by May 2020 based on the said model.
The model focuses on the scarcity coded into Bitcoin and the impact each halving has on supply and demand, using a scarcity model similar to that is used to determine the value of precious metals like gold and silver.
100TrillionUSD model is one of the best models to predict the price action of Bitcoin which gives Kernen additional confidence on the long-term value of bitcoin.
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