Bitcoin, dubbed “digital gold,” is set to become the go-to safe haven for investors in traditional finance. A crypto analyst predicts a 3,000% increase in BTC’s market value, potentially reaching $20 trillion.
In a significant development for the crypto market, a senior analyst has suggested that Bitcoin, often referred to as “digital gold,” is entering a bull market phase. Drawing parallels with gold’s traditional status as a safe haven in times of economic uncertainty, the analyst anticipates a surge in institutional investments in Bitcoin. The expert’s prediction points to an extraordinary 3,000% increase in Bitcoin’s market value, potentially reaching or even surpassing $20 trillion in the coming years.
The analyst stated, “Yes, digital gold will start functioning for big money just like gold does. This is what I mean by Bitcoin approaching the market capitalization of gold.” While Bitcoin has a long journey ahead to compete with gold’s colossal $13 trillion market value, the expert believes that it is on the right path.
Crypto analyst Dave the Wave also pointed out that Bitcoin has officially entered the bull zone by surpassing the zero level of the MACD indicator on the monthly chart. This marks a pivotal moment for the cryptocurrency, reinforcing its role as a safe haven in turbulent macroeconomic conditions. Currently valued at $672 billion, Bitcoin is trading at $34,414, as reported by 21milyon.com.
