Bitcoin

Where will Bitcoin be in 5 years?

Published

9 months ago

13 May, 2024

This important digital asset is poised to continue winning for investors.

It would take more than a few minutes to find an asset that has produced a better return over the past five years than Bitcoin (Bitcoin -0.26%). During this period, the world’s most valuable cryptocurrency soared by 1,000%. For comparison purposes, heavy technology Nasdaq-100 the index rose 128% during this period.

Bitcoin has performed fantastically over the last year and a half in particular. But things are cooling down as the price is 13% below the peak price (on the morning of May 5th). Investors are likely viewing this as a potential buying opportunity.

If we look at the next five years, where could Bitcoin be?

A unique asset

I think Bitcoin’s main value proposition is that it is a scarce asset. There will only be 21 million coins in circulation, with a scheduled inflation rate that has yet to change in Bitcoin’s roughly 15-year history. As demand for a fixed asset increases, so does the price.

This is in stark contrast to Bitcoin’s main competitor, fiat currencies. Thanks to irresponsible fiscal and monetary policies, especially in the USA, these currencies are constantly losing their purchasing power. Bitcoin’s structure seeks a more controlled solution.

Another factor driving the price of Bitcoin is the advent of a more robust financial services infrastructure. The most recent development in this regard was the approval of spot ETF products in January. So far, these have been largely successful in driving capital flows into Bitcoin. Furthermore, the Securities and Exchange Commission’s decision to approve ETFs can be seen as a regulatory stamp of approval.

There are many companies, from Wall Street banks to scrappy start-ups, all working on different Bitcoin-related products and services. Therefore, it is easy to believe that this asset will reach more portfolios over time.

I am quite confident that in five years the price of Bitcoin could be double what it is today. However, if history is any indication, this may prove to be a very conservative perspective.

Risks to take into account

After learning about some of Bitcoin’s features, it’s hard not to be optimistic. This is a special asset worth owning. And I believe this has significant advantages in the long term. However, investors also need to be aware of any risks.

The main risk factor is that the US government bans Bitcoin within its borders, essentially making it illegal to own or mine the cryptocurrency. This would essentially leave out a huge pool of capital, resulting in weaker demand for Bitcoin. But as the value of Bitcoin continues to rise, and more people from the wealthy and political class begin to own it, the possibility of an outright ban diminishes.

Another risk that we cannot ignore is of a more technical nature. Perhaps an approved update to the Bitcoin blockchain will create a software bug that exposes everyone’s private keys, rendering the network useless. Or progress towards quantum computing allows Bitcoin’s encryption to be broken, again undermining the security of the network.

But to help alleviate these potential threats, it’s best to realize that Bitcoin us they will not approve any update that they believe could cause havoc. And when it comes to quantum computing, there is a high probability that Bitcoin developers will come up with a way to strengthen the security of the network.

Once you understand these risks, you can set more realistic expectations. While I don’t believe Bitcoin’s returns over the next five years will be similar to the last five years, it’s definitely worth taking a closer look at this cryptocurrency for your own portfolio. Just remember to maintain a long-term mindset and be prepared for the inevitable ups and downs.

Neil Patel and its clients do not have a position in any of the stocks mentioned. The Motley Fool has positions and recommends Bitcoin. The motley fool has a disclosure policy.

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Bitcoin

What to watch for in the markets

Published

6 months ago

21 July, 2024

SatoshiTimes Staff

Photo: Andrew Harnik (Getty Images)

After witnessing one of the largest global IT outages on record, affecting the travel, finance and healthcare sectors worldwideThis week is set to see more political drama, events, and earnings reports from tech giants.

Donald Trump’s ‘Lovefest’ Sets Jamie Dimon Up for Consideration for Treasury Secretary Job

Let’s take a look at what awaits us:

Major companies will release their earnings reports

Major tech companies and others will release their earnings reports this week, paving the way for what the second half of 2024 will look like.

Monday

Verizon will report earnings before the start of operations.

Tuesday

Coca-Cola, Comcast and UPS are all set to report earnings before the market opens.
Tesla will report earnings in the morning, while General Motors will report earnings in the evening.
Alphabet and Visa will report results after the market closes.

Wednesday

AT&T will release its report before the market opens.
Ford and Chipotle will report earnings after the market closes.

Thursday

Earnings reports from AstraZeneca, American Airlines and Southwest Airlines will be released before the market opens.

Trump to speak at Bitcoin conference

Presumptive Republican presidential nominee Donald Trump will speak at the next Bitcoin Conference in Nashville, Tennesseewhich is scheduled for July 25-27. While this is the first time a presidential candidate will attend the conference, it has sparked a debate over whether the crypto-friendly Trump will receive support from the crypto community in the upcoming election.

In addition to Trump, independent presidential candidate Robert F. Kennedy Jr. will also discuss crypto during the conference. Crypto advocates such as ARK Investment’s Cathie Wood, MicroStrategy’s Michael Saylor, and whistleblower Edward Snowden are among some prominent names who will be participating in the conference.

Ether ETFs are on the way

New Ether Spot ETFs are set to begin trading on Tuesday, July 23. Much like the spot Bitcoin ETFs, these ETFs will allow investors to buy the second most popular cryptocurrency like stocks. BlackRock, Ark Invest/21Shares, VanEck, Grayscale, Fidelity, Bitwise, Franklin Templeton, and Invesco/Galaxy Digital are all set to offer Ether ETFs. Crypto asset manager Bitwise predict that trading in the Ether ETF will drive the price of Ether higher, potentially surpassing $5,000.

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Bitcoin

Cryptocurrency’s Biggest Winners and Losers in a Second Trump Presidency

Published

6 months ago

21 July, 2024

SatoshiTimes Staff

Cryptocurrency’s Biggest Winners and Losers in a Second Trump Presidency

Bitcoin miners and cryptocurrency companies that have been blocked from going public in the U.S. could ultimately be the biggest winners in the digital asset world under a second Donald Trump presidency. Foreign companies at risk of losing market share could end up being the biggest losers.

That’s the view that’s taking hold among market participants and observers in the wake of the former president’s growing embrace of cryptocurrency as his chances of election grow. survey released Thursday by CBS News showed Trump with the majority — 52 percent — of likely voters in his likely November rematch with President Joe Biden.

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Bitcoin

Bitcoin, Ethereum, Solana and Cryptocurrency Markets Look Ready to ‘Send’ as Stars Align, According to Investor Chris Burniske

Published

6 months ago

21 July, 2024

SatoshiTimes Staff

Bitcoin, Ethereum, Solana and Cryptocurrency Markets Look Ready to ‘Send’ as Stars Align, According to Investor Chris Burniske

Cryptocurrency investor Chris Burniske says Bitcoin (BTC), Ethereum (ETH), Solana (SUN) and the cryptocurrency market in general seem poised for a run.

Former Head of Cryptocurrency at ARK Invest account his 292,200 followers on social media platform X that several catalysts are aligning, suggesting that digital asset markets are on the verge of a bull run.

According to Burniske, a partner at venture capital firm Placeholder, the highly anticipated launch of Ethereum-based exchange-traded funds (ETFs), Republican presidential candidate Donald Trump speaking at an upcoming Bitcoin event, and the current state of the BTC, ETH, and SOL charts all suggest significant optimism for the cryptocurrency markets.

“With ETH ETFs set to go live, Trump speaking at The Bitcoin Conference, and BTC, ETH, and SOL charts looking [they do] (while stocks are weak), it’s hard to imagine a world where we don’t ship next week.”

Reuters recently reported that preliminary approval for ETH ETFs has been granted as the Bitcoin Conference is scheduled to take place from July 25-27.

BTC, ETH, and SOL are trading at $67,333, $3,528, and $174 at the time of writing, respectively.

The venture capitalist too provides an update on his prediction that the total crypto market cap will eventually hit $10 trillion. According to his chart, the path to $10 trillion is currently “23%” complete, as it sits around $2.2 trillion.

Source: Chris BurniskeX

Earlier this month, Burniske he said in an interview with Real Vision CEO Raoul Paul that he has his eye on the Move ecosystem, which was originally built by social media giant Meta and then used to develop layer 1 blockchains Sui (IUE) and Apts (APT).

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Bitcoin

Here’s the next target for BTC before bulls can hold out for $70K

Published

6 months ago

21 July, 2024

SatoshiTimes Staff

Here’s the next target for BTC before bulls can hold out for $70K

Bitcoin’s recovery is going well, and the market is seemingly poised to create a new all-time high in the near term.

Technical analysis

Per NegotiationRage

The daily chart

As the daily chart shows, the price of Bitcoin has been rising since it broke above the 200-day moving average.

The market has also reclaimed the $60K and $65K levels and is moving towards the $68K resistance zone, which could be the last hurdle before creating a new all-time high. With the RSI also indicating that the price has clear bullish momentum, it could be just a matter of time.

Source: TradingView

The 4-hour chart

Looking at the 4-hour chart, it is evident that the price has been rising rapidly since breaking the downtrend line to the upside. The market also broke the $65K resistance level with momentum, turning it into a support.

While almost everything points to a new record high in the coming weeks, there is one worrying sign. The RSI is showing a clear bearish divergence between recent price highs, which could indicate a correction or even a reversal in the near term.

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