According to prominent cryptocurrency advocate Michael Thaler, by 2026 it could recapture its all-time high of November 2021, and even skyrocket if the fundamentals of its valuation change.
Thaler – Chairman of Business Intelligence Software Company
(Ticker: MSTR)—mentioned on MarketWatch’s Money Festival’s Best New Ideas It announced Wednesday that Bitcoin could return to its $68,990 peak “within the next four years.” He has the largest cryptocurrency market capitalization of –Often billed as “digital gold”— Match real gold.
Bitcoin is It’s trading around $19,200 on Wednesdaymore than two-thirds below the all-time high from last year.
a dramatic defeat Dominating the digital asset market By 2022, Bitcoin has taken the lead, with the sector’s market capitalization dropping from just under $3 trillion a year ago to less than $1 trillion.The decline is being driven by forces within the crypto — like key token meltdown— also saw widespread sell-off in the stock market as investors parted with assets vulnerable to blistering inflation and risk. rising interest rates.
Now Thaler said he is looking to Bitcoin’s four-year simple moving average (around $20,000) to look for potential bottoms in the crypto market. he said. “Bitcoin’s next logical stop is to replace gold as a non-governmental value asset.”
This is Thaler’s well-known rhetoric,
— which he co-founded in 1989 — has been marked by big bets on crypto in recent years. MicroStrategy has emerged as an influential “whale” in the cryptocurrency market, with him beginning to buy bitcoin in mid-2020 to maintain its balance sheet.
sailor retired from the role of CEO Earlier this year, the company focused on crypto strategy. At his MarketWatch festival, he added that the company is also developing Lightning, a payment network built on Bitcoin.
Cryptocurrencies continue to polarize. On the same day as Thaler’s statement,
JP Morgan Chase
(JPM) CEO Jamie Dimon doubled his views He said that bitcoin is “worthless” and crypto tokens are “a decentralized Ponzi scheme, and the idea that it’s good for everyone is unbelievable.”
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