Analyst Reveals Bitcoin Price Targets, Compares BTC Market Cap to Gold – The Daily Hodl
The former leader of the analyst team at crypto analytics firm Glassnode predicts that Bitcoin (BTC) will reach six figures during this cycle.
During a recent interview on the Blue Collar Bitcoin YouTube channel, James Check stated that Bitcoin could see an increase of over 120% from its current value.
He also anticipates that Bitcoin’s market cap will eventually match that of gold in future cycles.
According to him, if Bitcoin is seen as a competitor to gold, the price target would be at least $1.2 million Australian dollars ($803,034 USD) based on the weight equivalence of 10.8 kilograms of gold per Bitcoin. He believes that reaching the six-figure mark for Bitcoin is highly likely, with a potential to even go beyond $250,000. He is optimistic about Bitcoin’s growth potential and does not expect it to cap out before reaching $100,000.
As of now, Bitcoin is trading at $68,076, showing a slight increase in the last 24 hours.
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook, and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should conduct their own research before engaging in high-risk investments in Bitcoin, cryptocurrency, or digital assets. All transfers and trades are at the individual’s own risk, and any losses incurred are their responsibility. The Daily Hodl does not endorse the buying or selling of cryptocurrencies or digital assets, nor does it provide investment advice. Please be aware that The Daily Hodl engages in affiliate marketing.
Generated Image: Midjourney
Source link
#OnChain #Analyst #Unveils #Bitcoin #Price #Targets #BTC #Competitive #Golds #Market #Cap #Daily #Hodl
