Bitcoin
Bitcoin Will Surge to $100K After Q4, Here’s Why
Dan Weiskopf, portfolio manager at Tidal Financial Group, spoke with David Lin and discussed the future prospects of Bitcoin. The focus was on the future of Bitcoin, especially its potential to reach $100,000. The talk also touched on recent market trends, noting strong interest in Bitcoin ETFs as a possible boost to its price. Looking ahead, there is hope that more platforms will approve Bitcoin ETFs, possibly pushing its price to $100,000.
Forecasts and Volatility: The Path to New Highs
While some predict Bitcoin could go as high as $150,000 or even $1 million, Dan agrees that it needs to hit $100,000 first. Dan also acknowledged Bitcoin’s volatility, saying that large price drops of as much as 50% to 70% could happen, drawing on his experience since 2017.
“We’re going to new highs because I think partly because ETF inflows have been really strong lately. Yeah, and then I think you’ll have more platforms approving spot Bitcoin ETFs in Q4, and we’re going to go up to 100K,” he said.
Big Investors and the Transformative Power of Bitcoin
He also discussed what is persuading large investors to get in on this cycle. He mentioned two key factors. Many argue that if you haven’t invested in Bitcoin, you’re missing out, citing its strong performance over the past decade. This pressure could influence returns and client expectations.
However, he emphasized a deeper reason: if you are not embracing the transformation driven by Bitcoin and digital assets, you may face challenges. This technology has the potential to reshape industries, just as the internet revolutionized business.
“A lot of people look at Bitcoin and crypto and don’t appreciate that with higher prices comes more supply. We talk about 100K, I would expect more supply to come into the market as we go up, and that’s not really new news, but it’s higher demand that’s offsetting that supply,” he added.
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