Bitcoin

Gold

<p>The post <a href="https://coinpedia.org/price-analysis/adam-back-drops-bombshell-prediction-bitcoin-to-soar-to-700000-in-1-2-years/">Bitcoin Price Prediction: BTC Price Poised To Hit $700K, Crypto Expert Reveals Timeline</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>Adam Back, a well-known expert in cryptocurrencies and one of the early supporters of Bitcoin, believes that Bitcoin could become more valuable than gold sooner than we thought. He suggests Bitcoin could hit $700,000 if it surpasses the gold <a href="https://coinpedia.org/news/analyst-predicts-bitcoins-surge-to-2-trillion-market-cap-by-september-2024/">market cap</a>, which is currently hovering at $13.5 trillion.</p> 
<h2 class="wp-block-heading" id="h-bitcoin-s-to-flip-gold-700k">Bitcoin’s To Flip Gold – $700K</h2> 
<p>Recently, Adam Back took to the X to shake up the Bitcoin community with a bold Bitcoin price prediction.&nbsp;</p> 
<p>According to his prediction, Bitcoin will undoubtedly flip physical gold, and it might just happen sooner than we think, maybe during this Bitcoin halving cycle. Perhaps he thinks it might take just “a year or two.”&nbsp;</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="550" data-dnt="true">
   <p lang="en" dir="ltr">so maybe <a href="https://twitter.com/hashtag/bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#bitcoin</a> flips gold fast than the ~$700k/BTC would imply from ~$13.5 trillion market cap, if <a href="https://twitter.com/hashtag/bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#bitcoin</a> gets gold out-flows pulling gold down to meet in the middle. all good, just another source of inflows.</p>— Adam Back (@adam3us) <a href="https://twitter.com/adam3us/status/1757851138580217866?ref_src=twsrc%5Etfw">February 14, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>Back points out that Bitcoin, often seen as digital gold, is heading towards surpassing the market value of physical gold. As per his calculations, reaching this milestone could trigger a bullish trend, propelling Bitcoin to an impressive $700,000 per unit.&nbsp;</p> 
<h2 class="wp-block-heading" id="h-bitcoin-stealing-gold-s-thunder">Bitcoin Stealing Gold’s Thunder</h2> 
<p>Back’s statement came as a reply to the impressive <a href="https://coinpedia.org/news/bitcoin-could-hit-112k-cryptoquant-ceo-drops-insider-info-on-etfs-history-making-trends/">performance of Bitcoin ETFs</a>. New data indicates that the total money invested in the top ten Bitcoin ETFs, including popular ones like GBTC, has doubled in just the past three days, hitting over $3 billion.</p> 
<p>This rapid growth sharply differs from gold ETFs, which took almost two years to reach a similar achievement.</p> 
<h2 class="wp-block-heading" id="h-bitcoin-set-to-dominate-commodity-etfs">Bitcoin Set to Dominate Commodity ETFs</h2> 
<p>This isn’t the first time Adam Back comparing Bitcoin with gold. He has <a href="https://twitter.com/adam3us/status/1748324570912751779">previously forecasted</a> that Bitcoin ETFs will outperform gold ETFs, eventually rising as the premier commodity ETF.</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="550" data-dnt="true">
   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#bitcoin</a> will soon become the largest ETF commodity.<br><br>BTC ETFs &gt; silver ETFs and soon BTC &gt; gold ETFs too!<br><br>data silver ETFs $11bil, <a href="https://twitter.com/hashtag/bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#bitcoin</a> ETFs $30bil (so far), gold ETFs $90bil.<a href="https://t.co/wocrDl5xxo">https://t.co/wocrDl5xxo</a></p>— Adam Back (@adam3us) <a href="https://twitter.com/adam3us/status/1748324570912751779?ref_src=twsrc%5Etfw">January 19, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>Currently, Bitcoin ETFs have exceeded $27.5 billion, surpassing silver ETFs and closing in on the $90 billion held by gold ETFs. This shows a big change in how people invest in digital money.</p> 
<p>The introduction of Bitcoin ETFs mirrors the impact created by the launch of gold and silver ETFs in the early 2000s, offering simpler access to commodities without the necessity for physical handling.</p>

Bitcoin Price Prediction: BTC Price Poised To Hit $700K, Crypto Expert Reveals Timeline

Obsah

CoinPedia News

Ďalšie články zverejnené 15. 2. 2024

What are the best AI crypto trading bots, and can you trust them?

Q4 Brings Unprecedented Growth to Polkadot Network; Promising Returns Expected for Hedera and The...

Altcoins Target New Heights as Crypto Market Climbs

New and Best Meme Coins To Buy Wednesday, February 15 – Jupiter, Floki Ceo, Bitcoin Inu, Smog

Bitcoin Price Surges Past $50,000

BlockDAG Presale’s Swift 1 Billion Coin Sellout Sinks Chainlink and Solana Price Predictions

Pripojte sa k nášmu bezplatnému bulletinu a získajte denné aktualizácie kryptomien!