Millionaires Focus on Cryptos
According to research by financial consultancy firm deVere Group for 2022, millionaires are focusing on cryptocurrencies, especially Bitcoin. According to the results of the research, 82% of clients with investable assets between £1m and £5m sought advice on cryptocurrencies. Despite the crypto market having a tough year in 2022, eight in 10 high-net-worth (HNW) individuals have asked their financial advisors to include cryptocurrencies like Bitcoin in their portfolios. Source
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The crypto market went through tough times in 2022, and as fear and anxiety escalated, Bitcoin lost almost 75% in the bear market. In the crypto winter, many investors, especially individual investors, exited cryptos, which kept the bear market alive. But some investors, especially wealthy investors, are aware that Bitcoin and cryptocurrencies are the future of money, so most of them do not exit cryptos, but rather they are eager to enter more. I don't have any proof, but my personal opinion is that in 2022 individual investors sold their assets mostly to wealthy investors.
It is not yet clear whether the bear market is over at the moment, but it seems clear that the crypto winter is starting to thaw in 2023. Bitcoin, which is the leader in terms of market cap, gained approximately 40% in 2023. Despite the difficulties and declines in 2022, it is quite remarkable that wealthy investors show such interest in Bitcoin and cryptos. Because as the crypto markets recover and continue to rise, the interest of wealthy investors in crypto will increase more. This indicates that the bull run that may start in the future may be much faster than the previous bull runs.
I don't know when the bull market starts, but when it starts, I think it will not be difficult for Bitcoin to exceed $100,000. What do you think?
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100k is certainly the target for the next bullrun in 2024/25. Could well go even further towards 250k or more. We will see. Cathie Woods is still mega bullish on Bitcoin to go beyond 500k until 2030.
I strongly believe that it will reach $500K by 2030. But the first target is 100K then 220K. We'll wait and see. !PIZZA
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Yes, 500k is also my longterm price target. Whether that is 2028, 2030 or 2032. We will see.
It is quite remarkable that most people agree that one day Bitcoin will reach 500K.
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Well that responds just to the „store of value / digital gold“ narrative. That would be a market cap of 10 Trillion $, ~80% of the value of all Gold. 😉
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While everyone is focused upon price, the true crypto projects are building. This is going to do more to impact price since the network effect will kick off.
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Those who focus on building in the crypto winter will definitely be greatly appreciated in the future. That's why in a bear market it's best to focus on building rather than price. !PIZZA
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Depends on Fed policy. But I think either case will lead to an increase in the price of Bitcoin:
Every day more people realize crypto is the future of money.
The Fed's monetary policy directly affects the money markets, but I think cryptos will not be affected (negatively) by the Fed's interest rate decisions after a point.
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