Reserve

Cryptocurrency

FOMO

Galaxy

<div class="finbold">
 <p class="paragraph">Bitcoin (BTC) has surged over 140% this year, surpassing other investment options such as stocks and gold, with considerable optimism for continued gains in its value. Does Bitcoin’s resurgence to the $40,000 level indicate the preparedness of the industry and the initiation of another bullish trend, or is there a possibility of the coin facing setbacks again?</p>
 <div></div>
 <p class="paragraph">After a cryptocurrency market crash last year, Sam Bankman-Fried, the founder of FTX, is currently in jail for fraud. Simultaneously, Binance, a prominent exchange, and its founder Changpeng Zhao have admitted guilt to U.S. anti-money laundering and sanctions violations, leading to fines of $4.3 billion and $50 million, respectively.</p>
 <p class="paragraph">Despite this, Bitcoin has recently surpassed a $41,000 threshold, a level not seen since April 2022, driven by factors such as anticipation of a Federal Reserve interest rate reduction and optimistic prospects for increased demand from exchange-traded funds (ETF).</p>
 <p class="paragraph">The sector is anticipating the decision on applications from entities such as BlackRock for the introduction of the initial U.S. spot Bitcoin ETFs.</p>
 <h2 class="wp-block-heading" id="h-optimistic-outlooks-for-bitcoin">Optimistic outlooks for Bitcoin</h2>
 <div class="not-prose relative overflow-auto scrollbar-hide mb-8 mt-8">
  <div class="relative w-full flex gap-6 snap-x snap-mandatory overflow-x-auto">
   <div class="max-w-[300px]">
    <div class="py-0 first:pt-0 last:pb-0">
     <div class="flex gap-x-4">
      <div class="shrink-0  w-24"><img data-src="https://cdn.thebittimes.com/images/2023/12/04/0e8b7b6b16348fb7fdd276d3e23914dc.webp" alt class=" w-full rounded-md lazy">
      </div>
      <div>
       Cryptocurrency 
       <h3 class="font-bold leading-6 " id="rich-dad-r-kiyosaki-urges-fighting-back-against-woke-greenies-by-buying-bitcoin">‘Rich Dad’ R. Kiyosaki urges fighting back against ‘woke greenies’ by buying Bitcoin</h3>
       <div class="sm:flex gap-x-3 mt-2">
       </div>
      </div>
     </div>
    </div>
   </div>
   <div class="max-w-[300px]">
    <div class="py-0 first:pt-0 last:pb-0">
     <div class="flex gap-x-4">
      <div class="shrink-0  w-24"><img data-src="https://cdn.thebittimes.com/images/2023/12/04/18be7e9806a03ecf6ebe02a65929b44c.webp" alt class=" w-full rounded-md lazy">
      </div>
      <div>
       Cryptocurrency 
       <h3 class="font-bold leading-6 " id="rich-dad-kiyosaki-names-3-assets-to-win-next-great-depression">'Rich Dad' Kiyosaki names 3 assets to 'win' next Great Depression</h3>
       <div class="sm:flex gap-x-3 mt-2">
       </div>
      </div>
     </div>
    </div>
   </div>
   <div class="max-w-[300px]">
    <div class="py-0 first:pt-0 last:pb-0">
     <div class="flex gap-x-4">
      <div class="shrink-0  w-24"><img data-src="https://cdn.thebittimes.com/images/2023/12/03/840971e29156615ec00805c826e3926f.webp" alt class=" w-full rounded-md lazy">
      </div>
      <div>
       Cryptocurrency 
       <h3 class="font-bold leading-6 " id="google-bard-picks-5-cryptocurrencies-to-buy-in-december">Google Bard picks 5 cryptocurrencies to buy in December</h3>
       <div class="sm:flex gap-x-3 mt-2">
       </div>
      </div>
     </div>
    </div>
   </div>
   <div class="max-w-[300px]">
    <div class="py-0 first:pt-0 last:pb-0">
     <div class="flex gap-x-4">
      <div class="shrink-0  w-24"><img data-src="https://cdn.thebittimes.com/images/2023/12/04/0d962996689359f90f1ffee434b45618.webp" alt class=" w-full rounded-md lazy">
      </div>
      <div>
       Cryptocurrency 
       <h3 class="font-bold leading-6 " id="1-000-bitcoin-investment-in-january-2023-would-now-be-worth-this-much">$1,000 Bitcoin investment in January 2023 would now be worth this much</h3>
       <div class="sm:flex gap-x-3 mt-2">
       </div>
      </div>
     </div>
    </div>
   </div>
   <div class="max-w-[300px]">
    <div class="py-0 first:pt-0 last:pb-0">
     <div class="flex gap-x-4">
      <div class="shrink-0  w-24"><img data-src="https://cdn.thebittimes.com/images/2023/12/04/70926c1013c655dc28f369ebcc0a11b5.webp" alt class=" w-full rounded-md lazy">
      </div>
      <div>
       Cryptocurrency 
       <h3 class="font-bold leading-6 " id="3-cryptocurrencies-under-0-10-to-buy-next-week">3 cryptocurrencies under $0.10 to buy next week</h3>
       <div class="sm:flex gap-x-3 mt-2">
       </div>
      </div>
     </div>
    </div>
   </div>
  </div>
 </div>
 <div class="mb-4 bg-slate-50 rounded-md layout-adjustment">
  <div id="finbold.com_middle" style="min-width: 300px; min-height: 250px;">
  </div>
 </div>
 <p class="paragraph">The flagship crypto is benefiting from strong support from its investors. Optimists highlight the efforts to address dubious practices and the surge in ETF applications as indications of the industry’s maturation, suggesting the potential for a broader investor base in digital assets.</p>
 <p class="paragraph">This optimism is mainly driven by fear, uncertainty, doubt (FUD), and fear of missing out (FOMO) toward the ongoing ETF confirmation dates that will dictate whether $50,000 arrives sooner rather than later, as per X post by <em>Santiment</em> on December 3.</p>
 <figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="652" src="https://cdn.thebittimes.com/images/2023/12/04/a13c647638471ba6eca3c2045d39c88d.webp" alt="FUD and FOMO driving Bitcoin price.  Source: Santiment
" class="wp-image-141129" srcset="https://cdn.thebittimes.com/images/2023/12/04/a13c647638471ba6eca3c2045d39c88d.webp 1024w, https://cdn.thebittimes.com/images/2023/12/04/a13c647638471ba6eca3c2045d39c88d.webp 300w, https://cdn.thebittimes.com/images/2023/12/04/a13c647638471ba6eca3c2045d39c88d.webp 768w, https://cdn.thebittimes.com/images/2023/12/04/a13c647638471ba6eca3c2045d39c88d.webp 1536w, https://cdn.thebittimes.com/images/2023/12/04/a13c647638471ba6eca3c2045d39c88d.webp 2048w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   FUD and FOMO driving Bitcoin price. Source: Santiment
  </figcaption>
 </figure>
 <h2 class="wp-block-heading" id="experts-split-on-btc">Experts split on BTC</h2>
 <p class="paragraph">Another stark supporter of BTC and optimist is Mike Novogratz, CEO of Galaxy Digital Holdings, who foresees Bitcoin reaching its previous peak within the next year, fueled by growing expectations for the approval of the first U.S. ETF, as per a report by <em>Bloomberg</em> on November 29.</p>
 <p class="paragraph">With BTC’s recent resurgence, some financial experts and legends still haven’t forgotten the events plaguing this cryptocurrency.</p>
 <blockquote class="wp-block-quote">
  <p class="paragraph">Charlie Munger, the late vice chairman of Berkshire Hathaway Inc., denounced Bitcoin as “gambling contracts with a nearly 100% edge for the house, entered into in a country where gambling contracts are traditionally regulated only by states that compete in laxity,” further emphasizing the need for a federal law, in his opinion piece for <em>Wall Street Journal</em> on February 1.</p>
 </blockquote>
 <blockquote class="wp-block-quote">
  <p class="paragraph">Warren Buffett shared the same opinion when it comes to Bitcoin, calling it “ rat poison squared, “probably rat poison squared, and saying that he wouldn’t buy Bitcoin even if it dropped to $25.”</p>
 </blockquote>
 <p class="paragraph">Meanwhile, the market capitalization of Bitcoin just surpassed that of his company, Berkshire Hathaway.</p>
 <figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
  <div class="wp-block-embed__wrapper">
   <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
    <p lang="en" dir="ltr">Warren Buffett has called #Bitcoin "rat poison squared" and stated that "it is an asset that creates nothing".<br><br>Today, the market capitalization of $BTC surpassed that of his company, Berkshire Hathaway. pic.twitter.com/I0EtC4aRZ3</p>— Mark Harvey (@thepowerfulHRV) December 3, 2023
   </blockquote>
  </div>
 </figure>
 <p class="paragraph">Whether Munger and Buffet were right or will Bitcoin return to its previous highs, or even surpass them, remains to be seen; in the meantime, investors should carefully consider all the options and analyze the potential risks when dedicating their money to a particular investment.</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><strong><em> </em></strong><em>The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
 <p class="paragraph"></p>
 <p class="paragraph"></p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/should-you-invest-in-bitcoin-experts-are-divided-tbt72509.html">https://thebittimes.com/should-you-invest-in-bitcoin-experts-are-divided-tbt72509.html</a></p>

Should you invest in Bitcoin? Experts are divided

Table of Contents

TheBitTimes

Other articles published on Dec 4, 2023

Binance Announced the Listing of Four Altcoin Trading Pairs, Two of which are TRY!

Bitcoin Breaks $40,000 Milestone While Newly Emerging Bitcoin ETF Token Sails Past $2.4 Million –...

Best Crypto to Buy Now December 4 – ORDI, PEPE, Bitcoin Cash

Is Brazil the Next Major Crypto Hub to Emerge?

Institutional Investors Bullish on Bitcoin as per Bybit Research

OKX Wallet Announces Integration with REYIELD for Streamlined AI-Powered Investments

Join our free newsletter for daily crypto updates!