Bitwise CIO: Bitcoin can reach $200,000 without the dollar crashing
On October 30th, Matt Hougan, the Chief Investment Officer of Bitwise, stated that when investing in Bitcoin, you are actually making two bets: one on Bitcoin becoming a "new store of value asset" and the other on governments continuing to "overprint fiat currency." As demand for traditional store of value assets rises, more investors will lean towards owning value assets. Bitcoin and gold are both means of storing value against inflation, and as investment in value storage assets continues to grow and fiat currency continues to depreciate, Bitcoin's price will soon rise to six figures, with each BTC being worth $200,000. Bitcoin's total market value is $1.43 trillion, which is currently about 7-8% of gold's market value of $18 trillion.
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.
You may also like
New spot margin trading pair — HOLO/USDT!
FUN drops by 32.34% within 24 hours as it faces a steep short-term downturn
- FUN plunged 32.34% in 24 hours to $0.008938, marking a 541.8% monthly loss amid prolonged bearish trends. - Technical breakdowns, elevated selling pressure, and forced liquidations highlight deteriorating market sentiment and risk-off behavior. - Analysts identify key support below $0.0080 as critical, with bearish momentum confirmed by RSI (<30) and MACD indicators. - A trend-following backtest strategy proposes short positions based on technical signals to capitalize on extended downward trajectories.
OPEN has dropped by 189.51% within 24 hours during a significant market pullback
- OPEN's price plummeted 189.51% in 24 hours to $0.8907, marking its largest intraday decline in history. - The token fell 3793.63% over 7 days, matching identical monthly and yearly declines, signaling severe bearish momentum. - Technical analysts cite broken support levels and lack of bullish catalysts as key drivers of the sustained sell-off. - Absence of stabilizing volume or reversal patterns leaves the market vulnerable to further downward pressure.
New spot margin trading pair — LINEA/USDT!
Trending news
MoreCrypto prices
More
