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1 Top Cryptocurrency to Buy Before It Soars 635% to 5,480%, According to

Select Wall Street analysts believe Bitcoin’s price is headed much higher in the coming years.

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Risk assets usually perform better when interest rates are low. So speculation that stubborn inflation will cause Federal Reserve policymakers to reduce rates more slowly than anticipated has been a headwind for cryptocurrencies in recent weeks.

Indeed, while Bitcoin (BTC 2.94%) rallied to a new record high of $73,000 in March, its price has since slipped 7% to $68,000. However, several Wall Street analysts see substantial upside for patient investors.

  • Tom Lee, managing partner and Head of Research at Fundstrat Global Advisors, believes the combination of recently approved spot Bitcoin exchange-traded funds (ETFs), the recent halving of Bitcoin block subsidies, and the eventual easing of monetary policy (lower interest rates) could push Bitcoin to $150,000 by 2025 and $500,000 by 2029. That last figure implies 635% upside from its current price of $68,000.
  • Anthony Scaramucci, founder and managing partner at SkyBridge Capital, recently told CNBC spot Bitcoin ETFs could propel the cryptocurrency past the market capitalization of gold, which is currently about $16 trillion. In that scenario, a single Bitcoin would be worth about $800,000, implying about 1,075% upside from its current price.
  • Cathie Wood, CEO and CIO at Ark Invest, believes spot Bitcoin ETFs will eventually capture about 5% of institutional assets under management, pushing the price of a single Bitcoin to $3.8 million. That estimate implies about 5,480% upside from its current price.

As a caveat, investors should never put too much confidence in price targets. They are simply educated guesses about what might happen in the future. That said, Bitcoin warrants further consideration given the tremendous upside implied by the price targets above. Here’s what investors should know.

The investment thesis for Bitcoin is simple

The price of Bitcoin is based on supply and demand. However, because supply is limited to 21 million coins, demand is the most consequential variable. That means the future price trajectory of Bitcoin depends on whether demand increases or decreases from its current level.

Two recent developments could boost demand in the coming months and years. First, the Security and Exchange Commission (SEC) approved spot Bitcoin ETFs in January 2024. Second, the Bitcoin block subsidy was cut in half in April 2024.

Spot Bitcoin ETFs could bring institutional investors to the market

Spot Bitcoin ETFs provide investors with direct Bitcoin exposure through their brokerage accounts, meaning they do not need to create new accounts with cryptocurrency exchanges. Additionally, while spot Bitcoin ETFs charge annual fees expressed as an expense ratio, they are often lower than the transaction fees charged by cryptocurrency exchanges.

In short, spot Bitcoin ETFs reduce friction for both retail investors and institutional investors. When I say institutional investors, I am referring to…

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