Bloomberg Intelligence senior commodity strategist Mike McGlone has explained that a Bitcoin supercycle may be happening, noting that the king crypto is beating gold by almost 10 times so far this year. The strategist added that if past trends hold, the BTC volatility is more likely to recover compared to commodities when Bitcoin “heads toward new highs.”

Also Su Zhu, the co-founder of Three Arrows Capital, revealed an astronomical Bitcoin price prediction resulting from a BTC supercycle:

“I mean, I think there’s an argument that gold itself is very undervalued. If it was the dominant store of value cause this thing was at like $1,700 years ago… and let’s say gold should have 5X’d if there wasn’t Bitcoin, then really we’re looking at a $50 trillion market cap. So then you’re already halfway there to $100 trillion and that will get you to $2.5 million per BTC and I think that that is definitely possible.”

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