Bitcoin and cryptocurrency prices have recovered in recent weeks, rising from February’s lows, even if the crash triggered a serious Coinbase warning.
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Bitcoin prices have returned above $ 40,000 per bitcoin, despite traders welcoming the Federal Reserve’s steady approach to raising interest rates and the threat of tightening regulations. Ethereum, BNB, XRP, Solana and Cardano have also recovered, and recent challengers Terra Luna and the avalanche are making huge profits.
Now, a veteran commodity investor has predicted that Bitcoin’s bullish turn could cause Bitcoin’s price to skyrocket to $ 200,000 in just five years. This shows a “compound interest effect” that can gain momentum.
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Bitcoin prices have lost almost half of their value since their peak in 2021, Ethereum, BNB, .. .. [+]
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“For example, it’s hard to know where Bitcoin will be priced at the end of the year,” said Greg Beard, a superstar energy investor who made a name for himself by buying and selling oil and gas companies at Apollo Global Management. rice field. luck. “But if you’re a fundamental-style investor who believes Bitcoin is worth it, it should be worth a multiple of today’s price in five years. At least five times.”
Beard’s Bitcoin price forecast will snowball interest in cryptocurrencies as inflation continues to erode the US dollar and other traditional currencies by spring 2027, with Bitcoin at $ 200,000. I’m expecting it. “The better Bitcoin is, the more interest it will generate,” said Beard, who now runs Pennsylvania-based Stronghold Digital Mining with energy veteran Bill Spence. .. “You can see the compound interest effect.”
Interest in other cryptocurrencies such as Bitcoin, Ethereum, BNB, XRP, Solana and Cardano has skyrocketed over the past few months as inflation concerns have involved investors. In the US, prices rose 7.9% in the year to February. This is the highest inflation rate in 40 years.
However, Beard’s Bitcoin price forecast requires Bitcoin to break out of its current niche.
“for [bitcoin’s] Price to take off [it] We need to graduate from the strong correlation between the Cathie Wood crowd and high-priced tech stocks. ”
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Bitcoin prices rose last month, but are down about 40% from their highests .. .. [+]
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Last month, Cathie Wood’s Ark Invest predicted that Bitcoin’s price could exceed $ 1 million by 2030, and Ethereum’s market capitalization could exceed $ 20 trillion.
“We believe Bitcoin is the most profound application of the public blockchain that underlies’taproot’digital money,” ArkInvest analyst Yassine Elmandjra said in a 2022 outlook report for the company. Discusses technological advances such as network taproot upgrades and second upgrades. -Layer Lightning Network can help scale Bitcoin.
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