Apex Cryptocurrency Bitcoin BTC/USD remains the most valuable in the world with a market capitalization of $450 billion, more than twice that of second-ranked Ethereum. Despite the high valuation, bitcoin is still well below the high it set for November 2021.
Here’s a look at what an all-time high could mean for hodlers and investors alike.
What happened: Bitcoin remains the most valuable cryptocurrency and one of the most discussed cryptocurrencies in the world. Top Cryptos Remain a Preferred Future Investment Option for Notable Investors Like Cathy Wood,
The war in Ukraine sparked more discussion on countries adopting bitcoin as a currency, and some analysts have raised their price targets and bull cases for bitcoin in the future.
global investment management company VanEck Said money has changed due to sanctions on Russia’s central bank, and the result could be traditional reserve currencies taking a backseat to bitcoin.
Wood, Who is the CEO of Arch Funds, More companies have been asked to add bitcoin to their balance sheets. If all corporations put 1% to 10% of their cash balances into bitcoin, the coin’s valuation could increase significantly.
In 2021, Arc Funds highlights $500,000 price target for bitcoin. A bull case for bitcoin from Arc Funds calls for the coin to reach $1 million per bitcoin by 2030.
the ark is stick to that price target According to its latest Big Ideas report.
VanEck analysts Eric Fine and Natalia Gurshina released a note titled “How One Bond Manager Values Gold and Bitcoin in April 2022.”
In the note, both target value of $1.3 million to $4.8 million for bitcoin if the cryptocurrency is adopted as a global reserve currency.
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$100 investment in bitcoin: $100 invested in bitcoin today could buy 0.00429 BTC, based on the current price of $23,349.88 at the time of writing.
Bitcoin hit an all-time high of $68,789.63 in November 2021. The coin failed to reach the price of $69,420, a figure suggested by some can break the internet Combination of two most popular memorized numbers.
If bitcoin returns to its all-time high, a $100 investment today would be worth $295.11. This would represent a return of 195.1%.
While bitcoin may never reach the $500,000 or $1 million price target from Arc Invest, the potential for a return to all-time highs could be high. Those who have followed cryptocurrencies over the years know that there are many waves and cycles, and bitcoin could reach new all-time highs during the next bull run.
Read further: Exclusive: Will Bitcoin, Dogecoin, Ethereum or Solana Gain More in 2023, Say 39% of Benzinga Followers