Bitcoin Set to Exceed $200,000 According to Bitwise CIO Matt Hougan as Economic Instability Lessens - Check Out the Timeframe
Update: Bitcoin's Imminent Breakout
In a virtual chat session on the David Lin YouTube channel, Bitwise CIO Matt Hougan is confident that Bitcoin's (BTC) astronomical ascent is imminent.
Hougan contends that a plethora of positive factors are set to send the crypto king's price soaring by over 95% from its current level within a matter of months:
"We're predicting Bitcoin will shatter the $200,000 barrier by year's end. At the moment, there's a massive wave of constructive news brewing around Bitcoin. Governments now own Bitcoin, there's been improvements in the regulatory landscape, and mainstream adoption is accelerating"
Hougan recognizes that the worsening macroeconomic outlook has currently dampened Bitcoin's meteoric rise.
"You might wonder why prices haven't surged more strongly. The reason is the economic uncertainty we've seen across all risk assets. Stocks are nursing significant losses. Once the economic volatility eases, all that positive news will catch up with Bitcoin, propelling it to unprecedented heights"
To bolster Bitcoin's odds of reaching the $200,000 mark, three key factors must align:
- Flowing ETF investments.
- Continued corporate Bitcoin buying.
- Increased government investment in cryptocurrency.
According to the Bitwise CIO, Bitcoin's price is closely tied to the balance between supply and demand[1][2][3]. If these conditions materialize, we can count on the $200,000 target as a done deal, he stated.
Currently, Bitcoin is trading at an eye-popping $102,695[4].
[Join the Revolution]! ✨ Follow us on Reddit, Telegram, & Twitter ✨
Don't Miss a Single Opportunity - Sign Up Now! to receive email alerts instantly delivered to your inbox. ⚡️
New Blockchain & Crypto News - What's Happening Now? 🌐💡💸
Exclusive Daily Hodl Playlist - Listen Now!
Disclaimer: The Daily Hodl does not advocate investment in Bitcoin or any cryptocurrency. Prior to making any high-risk financial decisions, individuals should perform their own research and due diligence. The Daily Hodl is not liable for any losses incurred via investment in Bitcoin or other digital assets.
Sponsored Post: Binance Alpha Is Reshaping Web 3.0 🚀🎉
Categories:- News- Bitcoin- Ethereum- Trading- Altcoins- Financeflux- NFTs- Blockchain- Regulators- Scams- Markets
About Us: Join the sprawling future of finance, including macro, Bitcoin, Ethereum, Cryptocurrency, and Web 3.
Editorial Policy ● Privacy Policy ● Terms & Conditions ● Contact Us ● Advertise
Join our vibrant Telegram, Reddit, Twitter community 🌐✨.
[1] https://dailyhodl.com/2023/02/16/bitwise-cio-matt-hougan-predicts-bitcoin-will-shoot-to-200k-by-end-of-2025/[2] https://dailyhodl.com/2024/01/18/bitwise-cio-still-bullish-on-bitcoins-price-predicting-skyrocketing-growth-in-2025/[3] https://dailyhodl.com/2024/07/31/bitcoins-demand-far-outpaces-supply-new-highs-on-the-horizon/[4] https://coinmarketcap.com/currencies/bitcoin/
- Besides Bitcoin, the increasing popularity of blockchain technology is leading to a surge in interest in other cryptocurrencies, commonly known as altcoins, making them potential investments for those already involved in the cryptocurrency market, especially with Bitcoin's imminent breakout.
- As finance professionals and investors alike pay close attention to the developments in the cryptocurrency market, particularly the gravitational pull of Bitcoin's ascent, they might also consider exploring opportunities in altcoins, given the potential for further blockchain applications and its impact on the entire cryptocurrency sector.
