Opinion: Bitcoin will not stop at $100,000 as more retail investors pour in

Odaily Planet Daily Report: Mikko Ohtamaa, co-founder of algorithmic trading company Trading Strategy, said: "We have two to three years to prove that cryptocurrencies can make the world a better place. This is the last chance, and this time, we are sailing with the wind. The past 10 years have been pure speculation. Now is the time to shift from speculation to real-world utility." Hong Kong market analyst Justin d'Anethan said: "The factors driving our development now include the accessibility of ETFs, corporate purchases, and the growing allocation from global institutions. The abandonment of the US dollar by the BRICS economies has also added an extra layer of appeal, with BTC positioned as a potential hedge in a world reassessing the role of traditional reserve currencies." d'Anethan believes that $100,000 is not the ultimate goal, "In the past year, the rise of BTC has been driven mainly by experienced participants: we've seen corporate treasuries (mainly MicroStrategy), the emergence of ETFs, and even pension funds starting to allocate funds to BTC, all without much fanfare. Retail investors have not yet flooded in, and when that frenzy comes, it will not stop at $100,000." In the short term, with the Fed expected to continue cutting interest rates, BTC may be in a macro environment favorable to risk assets. "As long as we don't face large-scale liquidations due to the bankruptcy of major companies in 2022 or unforeseen black swan events, the path of least resistance seems to be upward," Anethan said. (Cointelegraph)