Bitwise CEO Matt Hougan, who thinks that Bitcoin and Ethereum would rise, argued that his last decline was temporary. While the sales of major investors in the crypto market causes billions of dollars of depreciation, investors think that this process can create a purchase opportunity.
What does historical data say about Bitcoin?
Matt Hougan said there was no change in Bitcoin’s basic dynamics despite market decreases. According to historical data, large market decreases often prepare the ground for a new bull cycle.
In the last 10 years, when the S&P 500 fell by 2 percent or more, Bitcoin decreased by 2.62 percent, and gold gained 0.11 percent. However, one year after such decreases, Bitcoin increased by 189 percent on average. This shows that BTC can perform strongly in the long run despite short -term fluctuations.
Bitcoin and Gold Comparison
Bitcoin has performed better than gold in recent years. However, some analysts argue that Bitcoin cannot reach a safe port status due to excessive volatility. On the other hand, Bitcoin supporters historically, BTC says that high -time gains in the long run.
Gold and Bitcoin comparison is a long -standing debate about which existence of investors will prefer during crisis periods. The price movements of the BTC and the increase in corporate interest makes it a strong opponent against gold.
Support from Finance Analysts
Jim Cramer from CNBC said Bitcoin could be a good investment for a portfolio under current market conditions. However, investors, Cramer’s past estimates reversed this interpretation cautiously welcomed. After his positive comments about Nvidia shares, the company’s shares had decreased by 17 percent.
Positive statements to Bitcoin are supported by increasing the regulatory developments and institutional interest in the United States. Investors believe that the demand for Spot Bitcoin ETFs will push the BTC price upward in the long run.
The target of $ 115,000 for Bitcoin
Positive developments in the US markets increase the interest in crypto currencies, while the level of $ 115,000 for BTC may be a new breaking point. With the increase in Altcoin entrances, a new mobility is expected in the defi market.
Despite the expectation of ascension, the price of BTC may continue to experience fluctuations in the short term. However, in the long run, Bitcoin’s potential to reach new peaks seems strong. Analysts think that Bitcoin can rise up to $ 200,000 until the end of 2025.
