Are you ready to take your investment game to the next level? Bitcoin is currently making headlines as it closes in on $100,000 for the first time, but what does the future hold for this cryptocurrency? According to BCA Research, Bitcoin could still double after reaching the $100,000 mark.
Analyst Dhaval Joshi predicts that while there may be a near-term retracement following Bitcoin’s recent surge, the long-term outlook remains strong. In fact, Joshi believes that Bitcoin’s structural uptrend will ultimately propel it to $200,000 and beyond. This bullish stance is based on the idea that Bitcoin, like gold, is a “non-confiscatable asset,” offering protection against hyperinflation, banking failures, and state expropriation.
The concept of non-confiscatable assets is gaining traction as global wealth continues to rise. Joshi points out that Bitcoin currently represents less than 10% of the total market for non-confiscatable assets, leaving plenty of room for growth. As Bitcoin’s share of this market expands and its supply approaches its limit, the potential for price appreciation is significant.
While Bitcoin’s rally has recently paused, the cryptocurrency is still on track for a 16% weekly gain, according to Coin Metrics. The price of Bitcoin has surged 32% since the U.S. presidential election, showcasing its resilience and appeal to investors in uncertain times.
At Extreme Investor Network, we understand the importance of staying ahead of investment trends and opportunities. Our team of experts is dedicated to providing you with valuable insights and strategies to help you navigate the ever-changing world of investing. Whether you’re a seasoned investor or just starting out, our platform is designed to empower you to make informed decisions and achieve your financial goals.
So, are you ready to join the Bitcoin revolution and explore the potential of non-confiscatable assets? Stay tuned to Extreme Investor Network for the latest updates and expert analysis to help you make the most of your investments. Let’s unlock new possibilities together and elevate your investment game to the extreme!