{"id":18208,"date":"2024-10-30T19:32:32","date_gmt":"2024-10-30T17:32:32","guid":{"rendered":"https:\/\/forklog.com\/en\/bitwise-predicts-bitcoin-surge-to-200000\/"},"modified":"2024-10-30T19:32:32","modified_gmt":"2024-10-30T17:32:32","slug":"bitwise-predicts-bitcoin-surge-to-200000","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bitwise-predicts-bitcoin-surge-to-200000\/","title":{"rendered":"Bitwise Predicts Bitcoin Surge to $200,000"},"content":{"rendered":"<p>Bitwise&#8217;s Chief Investment Officer, Matt Hougan, has suggested that the price of the leading cryptocurrency could rise to $200,000. He stated that a collapse of the US dollar is not a prerequisite for this increase.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">1\/ A financial advisor asked me a great question over dinner last week:<\/p>\n<p>Does the U.S. dollar need to collapse for bitcoin to hit $200,000?<\/p>\n<p>The answer is \u00abno.\u00bb Here\u2019s why\u2026<\/p>\n<p>\u2014 Matt Hougan (@Matt_Hougan) <a href=\"https:\/\/twitter.com\/Matt_Hougan\/status\/1851306064571949208?ref_src=twsrc%5Etfw\">October 29, 2024<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\n<cite>\u00abWhen you invest in bitcoin, you are actually making two bets simultaneously: that bitcoin will establish itself as a new store of value asset, and that governments will misuse fiat currencies, increasing demand for store of value assets,\u00bb he wrote.<\/cite><\/p><\/blockquote>\n<p>The market capitalization of the leading cryptocurrency is approximately 7% of gold&#8217;s $18 trillion valuation. If bitcoin &#8220;matures&#8221; and reaches 50%, its price could soar above $400,000, according to Hougan.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\n<cite>\u00abThe second argument: the store of value market is growing because governments are misusing their currencies. If this market triples and bitcoin simply maintains its 7% share, each BTC will be worth more than $200,000,\u00bb stated Bitwise&#8217;s Chief Investment Officer.<\/cite><\/p><\/blockquote>\n<p>Hougan believes these arguments complement each other.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\n<cite>\u00abIf bitcoin matures and the store of value market doubles, you quickly reach seven-figure numbers. I consider this the most likely scenario,\u00bb he added.<\/cite><\/p><\/blockquote>\n<p>To reach the $200,000 mark, digital gold needs to continue its &#8220;current path of maturing as an institutional asset,&#8221; the expert noted. A collapse of the US dollar is not a necessary condition for such growth.<\/p>\n<p>In the early hours of Wednesday, October 30, the price of the leading cryptocurrency surpassed $73,000, but failed to reach a new all-time high. The last record on Binance was set on March 14, 2024, at $73,777.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"640\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2024-10-30-v-19.26.58-1024x640.png\" alt=\"Snimok-ekrana-2024-10-30-v-19.26.58\" class=\"wp-image-244201\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2024-10-30-v-19.26.58-1024x640.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2024-10-30-v-19.26.58-300x188.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2024-10-30-v-19.26.58-768x480.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2024-10-30-v-19.26.58-1536x960.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2024-10-30-v-19.26.58-2048x1280.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Hourly BTC\/USDT chart on Binance. Data: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSDT\/\">TradingView<\/a>.<\/figcaption><\/figure>\n<p>At the time of writing, bitcoin is trading at $72,000.<\/p>\n<p>Previously, analysts at Bernstein reiterated <a href=\"https:\/\/u1f987.com\/en\/news\/bernstein-predicts-bitcoin-to-reach-200000-by-end-of-2025\">their forecast<\/a> of the leading cryptocurrency reaching $200,000 by the end of 2025, calling it &#8220;conservative.&#8221; Similar expectations of $220,000 are held by TV host and Heisenberg Capital founder Max Keiser.<\/p>\n<p>In October, Hougan outlined the conditions for digital gold to rise above $80,000 by the end of 2024.<\/p>\n<p>Among them are Donald Trump&#8217;s victory in the US presidential election, a 50 basis point rate cut by the <span data-descr=\"Federal Reserve System of the United States\" class=\"old_tooltip\">Fed<\/span> with new stimuli from China, and the absence of major surprises in the industry.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitwise&#8217;s Chief Investment Officer, Matt Hougan, has suggested that the price of the leading cryptocurrency could rise to $200,000. He stated that a collapse of the US dollar is not a prerequisite for this increase. 1\/ A financial advisor asked me a great question over dinner last week: Does the U.S. dollar need to collapse [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":18207,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[949,1146],"class_list":["post-18208","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitwise","tag-cryptocurrency-market-forecasts"],"aioseo_notices":[],"amp_enabled":true,"views":"23","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/18208","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=18208"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/18208\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/18207"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=18208"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=18208"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=18208"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}