May 28, 2024

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Is Bitcoin a “golden digital”? Odds of reaching $100,000 in 2023 and betting with… a million | News about the economy

Is Bitcoin a “golden digital”?  Odds of reaching $100,000 in 2023 and betting with… a million |  News about the economy

previously, Bitcoin, recorded a 70% increase, With the announcement of analysts aVery optimistic about its performancewith some mentioning that the popular cryptocurrency May set all-time highs

previous bitcoin history, Registered in November 2021reaching an all-time high From $68,990.90. Since then, it has fallen about 60%.

In a statement to US CNBC, Marshall Byrd, chief strategist at cryptocurrency exchange Gemini, said: $100,000 could be a potential for bitcoin.

Specifically, he estimates that bitcoin is likely to break its all-time highs in 2023, adding that the price of $100,000 is an “interesting number”. It is worth noting that the previous record was $69,000, which is very close to 100,000. Provided that it increases by about 270%. to reach this amount.

Paolo Adreno, CTO of coin issuer Tether, has a similar assessment, stating that bitcoin It could “repeat” its all-time high near $69,000.

Thus, expectations indicate a new record high a more optimistic outlook compared to January, When industry executives told CNBC They expect 2023 to be a year of caution.

Is Bitcoin “digital gold”?

Part of the bullish industry view of bitcoin right now actually stems from how the origin is He performed during the banking turmoil which was caused Since the collapse of the Silicon Valley bank and the failure of two crypto-friendly lenders, Silvergate Capital and Signature Bank.

Bitcoin supporters say this is proof Bitcoin offers an alternative to the traditional banking system As a place for people to keep their money safe.

For many years, bitcoin proponents have argued That cryptocurrency is a form of “digital gold” An asset that is considered a safe haven and can be offered to investors hedge against inflation An investment in times of turmoil. But in recent years, bitcoin has been trading in correlation with stocks, particularly the high-tech Nasdaq.

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Now there are signs of a break in the Bitcoin connection To significantly outperform the Nasdaq index. Many other risky assets and gold this year.

His bet… $1 million

The debate over where the digital currency price could head this year has been intense since Balaji Srinivasan, an investor and former chief technology officer at Coinbase, made a bet on March 17 that bitcoin would be worth $1 million or more in 90 days. Bet $2 million.

The bet was in response to a Twitter user Who stated that he would bet one million dollars on the United States They will not go into hyperinflation.

It is noteworthy that Bitcoin was taken Because of the banking crisis, which may reduce the capacity of the US Federal Reserve To continue to take an aggressive stance in raising prices, which would act supportively towards cryptocurrencies.

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