Bitcoin is still gathering strength ready for the next move, and this is arguably more likely to be further gains to the upside. It could be more risky to be out of bitcoin than in bitcoin, as the upcoming price surge might promise to be the most prolific yet.
More to come from bitcoin
Investors still sitting on the sidelines could be looking at bitcoin with a view to jumping aboard before the next train sets off. However, they might also be thinking that the train left the station way back at the beginning of 2023, and that the eventual destination may not be far off.
They can’t really be blamed for thinking like this, given that bitcoin has had such a great price trajectory thus far. Nevertheless, if previous bull markets are anything to go by, we still have another leg or two to go before this bull run ends at some point in 2025.
There is much speculation across social media as to just how far and how high bitcoin can go over the course of this next phase or two of growth. Figures bandied about from respected analysts within the crypto space span a wide spectrum. Most analysts would probably agree that $100,000 is probably a conservative target for $BTC, and then there is $150,000 to $250,000, with a lesser group calling for even higher.
Nobody really has a clue, and a lot of the figures are based on Fibonacci levels and just big round numbers. That said, the vast consensus is certainly that bitcoin will go higher.
Why the pessimists are wrong on bitcoin
The dogged pessimist might still not be convinced of this. They might say that bitcoin has already reached its top, and that we are slowly rolling over, and about to enter a bear market ahead of time.
Why would they be wrong?
One only has to look at the economic horror show that is unfolding before our very eyes. Interest rates in the US are already high enough to cause a huge dampening effect on economic activity. While at the same time, inflation is rearing its ugly head again, and if rates are not kept the same, or God forbid, are pushed even higher, inflation could get out of hand once again.
In this sort of environment the average investor needs assets, and most of these assets need to have the least possible amount of third-party risk. This is because once the dominos start falling, anything tied to the traditional monetary system could also fall.
Therefore, bitcoin and other ‘hard’ monetary assets, are likely to attract a lot more value, as investors flee into something that cannot be printed into oblivion.
Bitcoin is the train to be on
At least for the next year or so, until it completes its bull market, bitcoin is the train to be on. Even if it only gets to $100,000, this is still a 50% or so gain from here. Try getting that from cash, bonds etc.
And then, bitcoin goes into its bear market. How long does this last? About a year. Would it be a good idea to hold some bitcoin through this, given the precarious state of the economy? Probably.
Bitcoin is the digital store of value of the future. Nothing in all of monetary history compares with it. In order to also come to this conclusion, you need to do your own research on this. Given the horrendously unstable economic system we are trapped within, the sooner you do this the better.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
