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CoinShares Research Director: BTC only needs to rise about 33% to reach $100,000, which is just 10% of the gold market share

CoinShares Research Director: BTC only needs to rise about 33% to reach $100,000, which is just 10% of the gold market share

Bitget2024/11/10 15:01
BTC+0.30%

On November 10, CoinShares Research Director James Butterfill previously expressed the view that there are four catalysts that will drive future Bitcoin price increases: changes in the leadership of the U.S. Securities and Exchange Commission, friendly regulation towards cryptocurrencies, further adoption of cryptocurrencies by large companies, and interest rate cuts by the Federal Reserve. James Butterfill further explained that a rise in Bitcoin to $100,000 means there is still a 33% growth space for its price, and a $100,000 Bitcoin "doesn't sound so unreasonable" because its market value is equivalent to "only 10% of the gold market share". Plus Trump's victory and Republican control of Senate could make it easier to push for an "expected relaxed regulatory framework", so it should be possible to achieve this. (CNBC)

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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