Kaleo, Bitcoin $99,683.26stating that the last month increased by 25 %, the possibility of reaching a level of $ 500,000 for the digital asset is more realistic in current market conditions. According to the analyst’s assessment, Bitcoin’s performance in the past shows that this goal is possible.
Explanations about Bitcoin
Kaleo, while evaluating Bitcoin’s current situation and potential, pointed out that it is important to compare digital assets with gold. According to the claim, the future rise of the gold market may increase significantly in parallel with Bitcoin. Analyst pointed out that Bitcoin left behind his gold performance during his previous rise.
KALEO: While the total market value of gold is approximately 22.6 trillion dollars, the price of ounce of $ 8,000 in the coming years may lead to the market value above $ 50 trillion. Although Bitcoin moves at the same rate as gold, although the current market value is below $ 2 trillion, it can reach $ 250,000. If Bitcoin performs 2 times the performance of the gold in previous rise, a Bitcoin may increase to $ 500,000 to create a market value of about $ 10 trillion. For the leader of the digital asset class, this does not seem unreasonable.
Market dynamics and other digital assets
Analyst argued that the expected increase in Bitcoin could trigger not only on this asset, but also on other digital assets. Kaleo said that the effect of FOMO (fear of missing opportunities) may play an important role in the market and that this situation could create a speculative mobility on alternative digital assets.
Kaleo: I think that Bitcoin’s reaching hundreds of thousands of dollars will create an unprecedented speculative mobility in the digital asset market. The current situation of the regulatory environment also supports the inevitability of this process.
While preparing the article, Bitcoin is traded at the level of $ 103,430, while the price of gold ounces is around $ 3,362. These data are based on the analyst’s evaluations.
Kaleo’s statements offer an optimistic look about the future aspect of the market, while investors bring important data to carefully. Market participants should consider the volatility of digital assets and the risks that may be encountered.
Interested investors should closely monitor market trends and act cautiously against fluctuations that may occur. The analyst’s views are shared to give ideas about the general market dynamics and investment decisions should be based on individual evaluations.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
