Bitcoin Price Prediction: Fidelity Predicts BTC Market Cap to Break $6 Trillion

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Bitcoin (BTC), the king of crypto assets, is taking the world by storm again with a fantastic prediction from Jurrien Timmer, Global Director of Macro at Fidelity. He projects Bitcoin's market capitalization will reach $6 trillion, equivalent to a quarter of the "monetary gold" market share.

Factors Driving Timmer's Prediction

Timmer's prediction is based on several factors, including:

• Comparison with Gold: Timmer likened Bitcoin to gold, both known as "store of value" assets. Bitcoin has the potential to take over most of the monetary gold market share, which is estimated to account for 40% of the world's total gold outside the jewelry industry and other industries.
• Scarcity and Trust: Timmer emphasized Bitcoin's scarcity and its role as a hedge against inflation and currency devaluation. With the market cap currently above $1 trillion, Timmer's prediction points to significant growth potential for Bitcoin.

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Other Opinions and Supporting Factors

• Investor Opinion: While some investors, such as user X, consider Timmer's predictions to be a credible underlying model, others have different views. Some investors believe that Bitcoin could reach a market cap between $2.5 - $3 trillion.
• Supporting Attributes: To assess Timmer's prediction, we need to understand the fundamental features of Bitcoin that make it suitable as "digital gold":
  • Scarcity: The number of Bitcoins in circulation is limited, similar to gold.
  • Hedging: Bitcoin is increasingly recognized as an asset to protect investors from inflation and the decline in the currency's value.
  • Decentralization: Bitcoin's decentralized architecture makes it a modern alternative to gold, attracting young investors.

Support from crypto industry figures

Optimism about Bitcoin also comes from well-known crypto figures, such as:

• Michael Saylor: He argues that Bitcoin's structure could hold more capital and exceed the market capitalization of companies like Apple Inc. (NASDAQ: AAPL).
• Tom Lee: He is optimistic that factors such as the introduction of Bitcoin ETFs and the halving could push Bitcoin to record highs, potentially exceeding $150,000.

History of Bitcoin Price Movements

Harga Bitcoin (BTC) Hari Ini

Harga Bitcoin (BTC) hari ini terpantau berada di level Rp808.308.183 per koin. BTC mengalami penurunan tipis sebesar 0,04% dalam 24 jam terakhir. Market cap atau kapitalisasi pasar BTC saat ini mencapai Rp15,8 kuadriliun berdasarkan data Coingecko.

Source: Bittme

Conclusion

Timmer's prediction of $6 trillion worth of Bitcoin opens up interesting insights into the future of this cryptocurrency. Along with Bitcoin's stronger position as "digital gold" and increasing investor interest, Bitcoin's future growth potential remains promising.

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How to Buy Bitcoin (BTC) on Bittime

You can buy and sell Bitcoin (BTC) in an easy and secure way through Bittime. Bittime is one of the best crypto applications in Indonesia that has been officially registered by Bappebti.

Bitcoin (BTC) is available on Bittime with the BTC/IDR market pair. To be able to buy BTC IDR on Bittime, make sure you have registered and completed identity verification. In addition, also make sure that you have enough balance by depositing some funds into the wallet. For your information, the minimum asset purchase at Bittime is Rp10,000. After that, then you can make a crypto asset purchase in the application.

Learn the complete guide on how to buy Bitcoin (BTC) on Bittime.

Monitor the price chart movements of Bitcoinn (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.

Also Read:

Bitcoin Prediction 2024: Price Increase and Analysis According to Experts

What is Privacy Coin and How is it Different from Bitcoin?

Samson Mow Predicts Bitcoin to Break $1 Million: Optimism High Ahead of ETF Approval

DISCLAIMER: This article is informational in nature and does not constitute an offer or solicitation to sell and buy any crypto asset. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices may change significantly from time to time and Bittime is not responsible for fluctuations in crypto asset exchange rates.