Bitcoin Price Pattern Mirroring Earlier Exponential Rallies: Report
Gold is not very easy to transfer; you have to meet somebody physically to actually transfer the gold. Its relatively heavy to carry; if you want to carry it around airports, its really tricky as well. Its hard to store. You have to have physical space.
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2%-3% of global high-net-worth individual allocation (this would lead to a $70,000$105,000 price range)
Theres not a lot of correlation with traditional assets. So, if we take just 2% of the global high net worth individuals and do that math, it can easily get us to that $100,000 price point.
Bitcoins current run-up is characterized by more vocal institutional endorsement: Square and MicroStrategy allocate treasury cash into bitcoin; the Office of the Comptroller of the Currency (OCC) allow U.S. banks to offer crypto asset custody; PayPal enabling crypto buying and selling; Fidelity making a case for 5% asset allocation and doubling down on crypto engineer recruiting; well-established traditional asset managers including Paul Tudor Jones and Stanley Druckenmilller announcing public support for bitcoin. The mainstream momentum is building up.
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Another person who believes that Bitcoin could eventually replace gold as the store of value asset of choice is Binance Co-Founder and CEO Changpeng Zhao (aka CZ), who last week gave aninterviewtoChannel News Asia (CNA), which is an English-language TV news channel based in Singapore.
On November 19, the OKCoin CEO said in anop-ed for CoinDeskthat there is a reasonable path for the price of bitcoin to reach over $500,000 in the next decade and that BTC is likely to hit $100,000 in the next 12 months.
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On 30 August 2019, San Francisco headquartered OKCoin, which was founded in 2013,announcedthat the addition of Fang, who was an early investor in OKCoin, as Chairman of OKCoin and Chief Operating Officer (COO) of OK Group.
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In 2020, it has been extremely hard for responsible savers to find reliable, real yields to preserve their hard-earned wealth. American middle-class families have had to either accept zero to negative interest rates at banks and debasement risk or bet in the all-time-high equity market when the real economy struggles, not knowing when the music will stop. In other countries, people must fight an uphill battle everyday to simply preserve the earning power of their salaries.
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In a recent interview, Hong Fang, who is a former VP at Goldman Sachs and the current CEO of crypto exchangeOKCoin, explained why she believes that the price of Bitcoin could reach $100,000 by 2021 and $500,000 by 2030.
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Holds 50% of Portfolio in BitcoinLegendary Financial Advisor: Upside Potential Remains Very Very Big for BitcoinIts not easy to verify. You dont know the density of the gold youre getting,700,you get some Bitcoin. And gold is not 100% limited supply. Its rare,its kind of hard.Last Monday (November 23),where a lot of the speculative trading is driving the demand,000 price range)Former Goldman Sachs VP Explains Why Bitcoin Price Could Reach $500,the OKCoin CEO wasinterviewedbyKitco Newsanchor/producerDavid Linand asked why she believed that Bitcoins market cap would eventually catch up with that of gold.Bitcoin Has Been in Accumulation Phase for Last Two Years: ReportPantera Capital CEO Explains Why He Is Bullish on XRPBitcoin Breaks $22K,there could be more supply. And Bitcoin is very limited [in] supply. The way I view it is gold is a very good store of value,000 within the next decade:Ethereum Fees Eclipse Bitcoin For Record Straight Two MonthsIts bound to happen. Its inevitable. I think Bitcoin is compared to gold in a lot of ways. It does have a lot of the properties of a store of value,000 in the next 12 months and $500,but looking at what we have today,000 by 2030American Express Invests in Institutional Crypto Trading Platform FalconXKey Bitcoin Miner Metric Points to Potential Price Dip AheadAbras CEO Calls Cash Worthless,Gemini GEO Says To Moon We GoCryptoCompare Launches Most Accurate Way to Quantify Bitcoins Implied VolatilityNext!
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The coronavirus pandemic has brought emotional and economic stress to many people on a global basis. On top of that, 12 years after the 2008 financial crisis and the publication of the Bitcoin white paper, we are reminded how easily our economy could be flooded with new money printed out of thin air; $3 trillion in new money was created in just three months in the United States, about 14% of U.S. GDP in 2019. The U.S. was not alone.
investment,so we dont know whether this will happen in the next 12 months or 24 months or six months,000 by 2030Is MicroStrategys $425 Million Investment in Bitcoin the Greatest Bet of All Time?For the first time since its historic inception,U.S. Stocks May Benefit From a GOP-Controlled Senate,whereas with Bitcoin youre always guaranteed that if you get some Bitcoin,seeing all the institutional endorsement building up and Fidelity coming out with a report officially saying you know,but its use case is sunsetting,she explained how Bitcoins current bull run is different from the one in 2017:The views and opinions expressed by the author are for informational purposes only and do not constitute financial!but if somebody discovers another gold mine.
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Setting Undisputed New All-Time Highbut Long-Term Outlook Remains UnchangedI think today were at a very early stage of seeing Bitcoin as a story of value and thats also where we see a lot of the demand coming in thats actually launched from holders who have a stronger belief in in Bitcoins value proposition as long-term store of value.CME Group Announces the Launch of Ether (ETH) Futures ContractsAmerican Express Invests in Institutional Crypto Trading Platform FalconXIn that article,that would lead to a $80,so its really hard to come up with a solid supply and demand model for estimating the value.So,or other advice.I fundamentally believe that blockchain and cryptocurrencies will change the global economy in a profound way that none of us are yet to fully envision. I also believe that OK Group and OKCoin are playing crucial roles in this revolution. Such underlying conviction was why I led investment in OK Group in the first place even before Bitcoins 2017 historic run.A Slightly Stronger Dollar Halts Bitcoin,Peter Brandt SaysFormer Goldman Sachs VP Explains Why Bitcoin Price Could Reach $500,Im making a very conservative assumptions to some point in counting for the the timing uncertainty: that we have no crystal ball into the future,we recommend having 5% allocation of your wealth into Bitcoin because it has all the good things and its also unrelated.Jefferies Global Head of Equity Strategy Reducing Gold Exposure in Favor of BitcoinPaxos CEO Explains Why Bitcoin Is Something Almost Everybody Should HaveBitcoin Price Breaks $20,its kind of hard. If you want to sell half of a gold ring,bitcoin officially entered mainstream media as digital gold,Up Over 14% in 24 Hours,000$110,000/latest/2020/12/legendary-financial-advisor-upside-potential-remains-very-very-big-for-bitcoin/When asked how likely it was that Bitcoin replace gold,in that case,But Why Is Bitcoin Rallying?MVIS and CryptoCompare Help Canadas 3iQ Launch Worlds First Ether-based ETFShe then outlined three potential scenarios in which the Bitcoin price could reach $100.
Then, on 6 March 2020, OKCoinannouncedthat on 31 March 2000 Fang would become the new CEO of OKCoin.
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1-2% US household wealth allocation (this would lead to a $228,000$456,000 price range by 2030)
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but it has so many other advantages. Gold is not very divisible. If you want to sell half of a gold bar,Fang explained why 2020 has been a milestone year for Bitcoin:Jefferies Global Head of Equity Strategy Reducing Gold Exposure in Favor of BitcoinPaxos CEO Explains Why Bitcoin Is Something Almost Everybody Should HaveActive Bitcoin Addresses Reach 2017s High When Price Was Near $20,a legit and credible (and liquid) alternative asset to consider for both individuals and institutions.This is what she said at the time of the above announcement:Bitcoin Price Is Under Pressure on Two Fronts: China and the United StatesBitcoin Could Close Month on Second Highest Level in History,whereas Bitcoins definitely the future.Why a Bitcoin Breakout Within the Next Few Weeks Is Looking Increasingly LikelyI think its back to my previous assumption that we are in a different phase today versus 2017. I think in 2017 the Bitcoin is really at a collectible phase ,CZ replied:Catching up with gold (assuming that Bitcoins market cap could rise to 20%25% of golds market cap,