BTC/USD market mood: Would Bitcoin rise to 100.000$ in the next five years? [Video]
|Listen to the latest market mood for the BTCUSD.
Bloomberg Intelligence had a recent report on Bitcoin where they projected Bitcoin could rise to $100,000 in the next 5 years. The Bloomberg intelligence piece had a number of key points.
There is limited Bitcoin supply in a very favourable macroeconomic environment (low rates, QE etc). As stocks underperform that encourages even more QE and rising debt to GDP ratios. These are tailwinds for gold and bitcoin (via a weaker USD). There are favourable trends in decentralised finance (DeFi) and exchanges (DEXs. About 90% of the 21 million Bitcoins that will ever be mined have been. Bitcoin looks to be the leader in a paradigm shift towards digital money and stores of value.
Therefore expect BTCUSD buyers on a trend line break on the weekly chart.
Trade Risks
-
Heavy risk-off markets result in Bitcoin falls.
-
A change in Bitcoin’s appeal as the go-to cryptocurrency.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.