Bitcoin’s and Gold’s Market Capitalizations Could Be Equal Since They Serve the Same Function
In addition, the Fortune team’s analysis predicts that the combined market capitalization of Bitcoin and Gold will ultimately equalise since they both serve the same objective.
As indicated in the following statement, the market value of Bitcoin owned by institutional investors will not rise until volatility stabilises to a level that is comfortable for investors.
As long as Bitcoin’s volatility remains high, institutional investors won’t be able to utilise it to manage their risk to the same extent as gold.
It is Guggenheim’s Chief Investment Officer’s opinion that Bitcoin will retest $8,000. The research by the Fortune MAgazine team suggested that Bitcoin’s short-term price movement might fall to below $20,000.
Scott Minerd, Chief Investment Officer at Guggenheim, spoke to Bloomberg at the World Economic Forum in Davos, Switzerland, on Bitcoin’s potential to trade below $20,000. To put it another way, Mr Minerd said that the crypto industry is populated with a bunch of yahoos’ in his interview.
‘Rampant money production’ by the US Federal Reserve is the primary reason why Bitcoin should be worth $400,000, according to his calculations. Flashing up to $8k may be required in order to allow for further expansion. The Bitcoin and Cryptocurrency markets have yet to meet the standards of reliable institutional investments, he said further.
At this stage, Bitcoin and other cryptocurrencies have not proven themselves as viable investment for institutional investors.
Almost everything is suspicious. The crypto-paradigm has yet to be broken. 19,000 digital currencies exist, but most of them are worthless garbage.
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