He's basing the number off Martin Armstrong, who is a complete fraud.  As much as I think Bitcoin has zero fundamentals due to transaction validators being designed to centralize - and just like all currencies (vs actual money), starts at a value of zero and returns there - one only needs to look at Armstrong's last prediction on gold.  Armstrong claimed gold was going to "drop to the abyss below $800" when it was $1050.  So, as you can see, Armstrong told people to literally SELL THE BOTTOM in gold instead of buying.

I called out this Armstrong scheme the very day he said it, that it was not even possible for it to go that low without some type of catastrophic deflationary collapse that would blow up all the banks in the process.  I actually bought gold at that time because I knew it could not go lower (without deflationary collapse) - and then later traded it for more silver due to absurd GSR.  The purpose of Armstrong seems to me to be nothing more than a paid disinformation agent like Harry Dent.