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Learn about the decentralized oracle ecosystem and how Flare Network aims to revolutionize it, as discussed by co-founder Hugo Philion. (Read More)
Over the past seven months, the price of Bitcoin has moved in a range between $73,777 and $49,000, significantly depressing sentiment across the market. In a new analysis published via X, Will Clemente III, co-founder of Reflexivity Research, addresses the prevailing sentiment of impatience and uncertainty among investors, sharing why he still remains bullish. Clementes bullish sentiment draws from a long-term perspective over the next decade. Drawing upon his expertise in portfolio construction and asset allocation, Clemente emphasized the importance of identifying major economic trends likely to unfold over the next decade. “Been thinking a lot about portfolio construction lately and position sizing. I keep coming back to there’s nothing I’d rather go into a coma for 10 years and hold than Bitcoin,” Clemente stated, emphasizing his confidence in Bitcoin as the superior long-term asset. His analysis is grounded in the anticipation of certain macroeconomic trends. Clemente suggests that investors should consider what the biggest trends are likely to be over the next decade and adjust their portfolio accordingly. This involves either significantly increasing investment in the highest confidence trend or spreading investments across several promising trends based on their potential impact. Related Reading: Critical Bitcoin Indicator: Analyst Foresees Major 75% Correction Ahead He personally favors focusing on the most probable trend, which he identifies as the ongoing growth of the US deficit and the subsequent need for the government to debase the currency to service this debt. This scenario, according to Clemente, offers a more predictable outcome than other technological trends like AI or space exploration. Compared to other technological trends, the debasement one is pure math. In addition, the way to bet on other technological trends, for example AI or space, isn’t as clear as debasement, given there’s not a way to position for it as clear as Bitcoin, Clemente writes. How High Can Bitcoin Go In 10 Years? Clemente’s bullish stance on Bitcoin is reinforced by his analysis of potential capital inflows from sovereign wealth and pension funds. He estimates that if these entities were to allocate just 1% of their capital to Bitcoin, it would result in approximately $460 billion of new investments into BTC, potentially doubling its market cap and driving prices to between $150,000 and $200,000 per Bitcoin. He further speculates on the impact of an increased allocation, suggesting that if concerns over the deficit intensify, these institutions might allocate as much as 3%, translating into $1.4 trillion entering Bitcoin. And the upside potential is even larger. What happens if it eats into the $10t-$15t of gold’s monetary premium? How about the combined monetary premium in treasuries/equities/real estate that’s currently parked into these assets as SoV to protect against currency debasement? Clemente pondered. Related Reading: Will Bitcoin Repeat History? Analyst Sees This 2019 Pattern In Current Market Concluding his analysis, Clemente reasoned that a $1 million price per Bitcoin by 2034 is not out of the realm of possibility when factoring in the reduced purchasing power of the dollar. Also would like to sprinkle on top that this is not factoring in dollars being worth significantly less in the future due to debasement, so $1mm BTC in 2034 is not as crazy as $1mm BTC in 2024, the analyst remarked. However, Clemente also acknowledged, I do think Bitcoin’s days of 100%+ CAGR are gone, but that’s not to say it won’t outperform equity indices by a lot — and on a confidence-adjusted basis, I don’t see anything as compelling in the marketplace today. At press time, BTC traded at $56,481. Featured image created with DALL.E, chart from TradingView.com
Zach Bradford, CEO of Bitcoin (BTC) mining firm CleanSpark, has predicted that the premier cryptocurrency may peak close to $200,000 this cycle. Bradfords Bullish Take On BTC Price In an interview with research and brokerage firm Bernstein, CleanSparks CEO noted that historically, post-halving periods have led to several positive adjustments for BTCs price. It should be recalled that Bitcoin underwent its fourth halving in April 2024, when its block confirmation rewards were slashed from 6.250 BTC to 3.125 BTC. In a note to clients shared today, Bradford remarked: Based on my current analysis, I believe we could see bitcoin peak just under $200,000, sometime in the next 18 months. Thatll likely be a peak. But I do think well see a rapid jump, and then hopefully, an extended elongated period of it being up before we revisit a bear cycle. Related Reading: Historical Trends Put Bitcoin At $400,000 With Shocking Timeline Bradford stressed that he sees Bitcoins extended flat period as a positive sign. It indicates that a sustained rally to the upside may last longer than usual. However, he cautions that this depends on macroeconomic events and other relevant factors. Adding to his comments, Bradford said he expects a considerable push in BTC price post-election through January 2025. Subsequently, this could help Bitcoin miners with efficient cost structures expand their profit margins. Interestingly, the CleanSpark CEO doesnt think its important who wins the US presidential elections in November 2024. Rather, the reduction in electoral uncertainty after the elections will help investors place more confidence in risk-on assets such as Bitcoin. Bradford opined that the US Federal Reserve (Fed) was late in cutting interest rates after hiking them over the past two years. He concluded that to correct its delayed action, the Fed might cut rates more aggressively in the next 15 to 16 months, leading to further BTC price appreciation. Bitcoin Price Looks For Further Upside, But Challenges Remain After hitting a low of nearly $53,900 on September 6, Bitcoin has rebounded by nearly 10% on the back of multiple positive developments, such as the Fed cutting interest rates by 50 basis points (bps), and increased net daily inflows to ETFs. Related Reading: Bitcoin Set For Biggest September Gains In A Decade: Heres Why Crypto analysts believe that there is room for further upside in Bitcoin price. For instance, analysts from 10x Research predict that BTC may reach $70,000 in the coming two weeks, followed by a new all-time high (ATH) price. However, there are reasons to temper this optimism. For example, the recent Bitcoin rally has been accompanied by a rapid increase in open interest, indicating the possibility of high price volatility in the near term. Similarly, another analyst highlighted the greater increase in derivatives trading compared to spot trading as a cause for concern regarding a healthy Bitcoin price trajectory to the upside. Bitcoin trades at $63,710 at press time, down 3.2% in the past 24 hours. Featured image from Unsplash, Chart Tradingview.com
NIO's ONVO brand introduces the L60 SUV, powered by NVIDIA DRIVE Orin, boasting advanced AI-driven features and innovative design. (Read More)
Discover top tools and strategies to clean up podcast audio, including ElevenLabs' voice isolator. Improve your podcast's quality with these expert tips. (Read More)
Both Robinhood and Revolut are reportedly considering issuing their own stablecoins as the industry continues to expand.
Vitalik Buterin noted that Celos second L2 testnet, Alfajores, will be upgraded to Ethereum L2 on Sept. 26.
It's an important step toward winning the tokenized RWA market as Circle continues to vye with stablecoin leader Tether.
Circle's 'Unlocking Impact' pitch competition series returns at the UN Summit, showcasing innovative projects aimed at achieving the UN's Sustainable Development Goals. (Read More)
In 2025, Circle, an issuer of stablecoins, intends to relocate its headquarters to Wall Street, as stated by CEO and founder Jeremy Allaire. The company is also proceeding with its initial public offering (IPO). In January, Circle submitted an initial public offering (IPO) application to the US Securities and Exchange
Stablecoin issuer Circle is moving forward with its public offering debut and plans to shift its headquarters to Wall Street in 2025.
Can Historical Election Trends Predict Bitcoins Next Move?
Ian Rogers of Ledger stresses the importance of self-custody and warns against complacency during crypto market booms.
Other Web3 infrastructure platforms, such as Circle, are also considering IPOs.
RedStone's integration with TON will introduce real-time asset prices, aiming to enhance DeFi, GameFi, and social applications.
Circle has significantly enhanced access to USDC by providing integrations with local bank transfers through PIX and SPEI, the real-time payment systems in Brazil and Mexico. This is a huge revolution for companies in both countries; they will no longer depend on slow and expensive international wire transfers. By bypassing the need to convert their […]
NVIDIA and Oracle collaborate to accelerate AI workloads using NVIDIA NIM and cuVS on Oracle Cloud Infrastructure, enhancing generative AI applications. (Read More)
CleanSpark has intensified its Bitcoin mining efforts by acquiring two new sites near Clinton, Mississippi. On Sept. 17, the Bitcoin miner revealed that the new sites were purchased for $5.775 million and can support 16.5 megawatts. According to the firm, the locations will house S21 Pro miners, providing a combined operating hash rate of roughly […]
The post CleanSpark doubles down on Bitcoin mining with new Mississippi acquisitions appeared first on CryptoSlate.
Johann Kerbrat, the General Manager of Robinhood Crypto, has raised eyebrows in the crypto space after hinting that the firm may consider launching its own stablecoin. Kerbrat appeared on the Thinking Crypto podcast with Tony Edward and discussed how stablecoins are increasingly becoming a part of the crypto market. However, he did not provide any […]
USDC is now integrated into the banking systems of Brazil and Mexico, allowing businesses to use the USD-pegged stablecoin directly through local financial institutions.
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