Several crypto enthusiasts admit the possibility of BTC growth
10T Holdings CEO Dan Tapiero voiced the likely reason for the growth of the first crypto coin to $90,000 and above. In his opinion, this is possible if Bitcoin manages to overcome the “critical mark” of $65,000, after which the crypto asset can rise in price by at least 45%.
BTC is currently experiencing a downward consolidation after an extended bullish trend. Tapiero believes that Bitcoin has almost completed this period, and the crypto market will experience significant growth in the near future.
The head of 10T Holdings allowed the US Federal Reserve to lower interest rates due to the situation in the commercial real estate industry. There is no serious inflation in this market that would require interest rates to be lowered to 3%.
The founder of Cane Island Alternative Advisors, Timothy Peterson, also allowed the main crypto coin to grow significantly in the coming months.
According to Peterson, Bitcoin could exceed $100,000 by Q4 2024 or Q2 2025 at the latest. The expert argued that the general markets are usually stable and variable between September and October.
According to Peterson, for the BTC rate to rise, the US high-yield corporate bond rate needs to drop to 7% or 6%. Now it exceeds 7.5%.
Peterson also noted that rates are an important factor for participants in the digital currency market, as their decline leads to a fall in the income of investors in securities. Nowadays, more and more investors are interested in high-risk assets in order to achieve greater returns on their investments.
The owner of the consulting company Edelman Financial Services, Rick Edelman, expressed his opinion that the cost of the main digital coin is likely to increase to $420,000. He said that conservative investors are ready to diversify their portfolios.
If they all invest at least 1% of their funds in bitcoins, the volume of the BTC market will reach $7.4 trillion. American ETFs based on BTC will help investors.
“They’re incredibly inexpensive, 20–25 basis points cheaper than going to say Coinbase or other crypto exchange and being in a brokerage account, you can rebalance, you can dollar cost average, you can tax loss harvest,” Edelman highlighted,” said Rick Edelman.
Do you agree with the opinion of the experts?
