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Bitcoin needs to go more in line with gold, says crypto analyst

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Bitcoin needs to go more in line with gold, says crypto analyst 2

Jason Pizzino shared his opinion on the current situation of Bitcoin and noted that there are huge to come from Bitcoin.

Bitcoin completed its age more than 13 years and also continuously it will remain active in the world to provide decentralized technology-based investment and payment solutions without any restriction of borders. However in recent years, Bitcoin emerged as a hedge against inflation but the majority of the people are looking at bitcoin to see 10-25 fold profit, just like bitcoin performed in the past. 

Recently Jason Pizzino, a popular crypto YouTuber, shared his stance on Bitcoin through a video on YouTube and noted that Bitcoin may surge by 25× and can easily touch $1 million prices.

According to Jason, Bitcoin surged around 22× from 2018 to 2021 but it should go to around 25×, which is too far from what people are thinking, and more has to come shortly. 

“A 25x might seem like it’s a little far-fetched. But as we can see from December 2018 to the current top in 2021 in November, it’s been a 22x return. So 2,100% here. So it’s not too far out of the question. But I just think it’s going to take a lot more time than people are expecting.”

However, Jason claimed that Bitcoin is closer to its 25× continuos increment path but still he figured out the main issues which are big challenges against Bitcoin to hit $100,000. According to him, Bitcoin needed to decouple from equities. and also said that Bitcoin is much similar to the Nasdaq stock index.

Jason further added: 

“problem lies with the Nasdaq itself being that we could be in for more downside in the Nasdaq which means more downside in Bitcoin and Ethereum and of course cryptocurrencies.”

Jason further noted that Bitcoin should be traded like gold like reserved assets, which is still at an all-time high even in the present time of high inflation in the global economy.

Read also: Bank of England needs $419M to handle crypto regulations

Bitcoin needs to go more in line with gold, says crypto analyst

 

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https://bitcoinik.com/bitcoin-needs-to-go-more-in-line-with-gold-says-crypto-analyst/feed/

 

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