Bitcoin may soon hit the six-figure mark as a “store-of-value” asset that gains popularity. This surge doesn’t hinge on a collapse of the U.S. dollar but rather on growing investments in assets like Bitcoin and continued currency devaluation, per Bitwise CIO Matt Hougan.
Hougan argues that Bitcoin’s journey to $200,000 or more doesn’t require the dollar’s downfall. Instead, Bitcoin’s potential to mature as a “store of value” similar to gold could fuel significant growth. If Bitcoin’s market cap rises to 50% of gold’s, each BTC could reach over $400,000.
It means that in a macro “store of value” market, Bitcoin might still appreciate a lot without necessarily surpassing the valuation of gold. This trend reflects the growing preference by investors for resilient assets in an economy beset by inflationary pressures.
10x Research’s $100,000 Bitcoin prediction
Meanwhile, research firm 10x Research foresees Bitcoin reaching $100,000 by January 2025. Based on a track record with 86.7% accuracy, its model triggered a buy signal on October 14, forecasting strong price momentum.
According to their analysis, when Bitcoin reaches a new six-month high, a median return of 40% typically follows within the next three months. With BTC currently around $73,000, a rise would place it above $101,000 by January.
The worldwide increasing demand for stable assets and Bitcoin’s rece5nt bull signals are two things that prove that robust growth should occur in the future.
If Bitcoin grows into a real institutional-grade asset and conquers a bigger part of the market meant for “store of value,” that will necessarily make possible seven-digit prices as well.
However, Bitcoin’s contribution to the downside of economic instability and currency devaluation is also growing as the market goes ahead. Future economic events and monetary policymaking decisions may make Bitcoin touch new highs, thus indicating its strengthening in the financial spectrum.
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