Bitcoin To Be ‘Well Above $50,000’ by End of Year, SHIB To Reach $0.001; Here Is What Investors Should Keep in Mind

Bitfinex CTO Paolo Ardoino expects Bitcoin to be ‘well above $50,000’ by end of the year. Mike Novogratz, Galaxy Digital CEO doubled down on his $500,000 future prediction for bitcoin. Novogratz gave this prediction while speaking at the recently concluded Bitcoin conference. According to Antoni Trenchev, Co-Founder and Managing Partner of Nexo, the Bitcoin price might reach $100,000 in a year.

Founder of Gokhshtein Media and former U.S. congressional candidate David Gokhshtein says in his personal opinion that the Shiba Inu is quite able to touch $0.001 but not the $1 level saying: “I can see SHIB touching $0.001”

Bitcoin trades at $40,375 at the time of publication while SHIB was seen at $0.0000256.

Here Is What Investors Should Keep in Mind

Many experts are hesitant to predict a specific amount or a certain date, rather pointing to the trend of Bitcoin’s value increasing over time. Last October, Jurrien Timmer, director of global macro at Fidelity Investments, forecasted a “very sustainable” growth in Bitcoin’s long-term value, driven by organic market activity, with the $100,000 milestone in sight.

“What I expect from Bitcoin is volatility [in the] short-term and growth [in the] long-term,” says Kiana Danial, founder of Invest Diva.

At the same time, the institutional approach still points to the attractiveness of cryptocurrencies. In the face of a potential global economic recession, Bank of America believes that Bitcoin and other cryptocurrencies could outperform bonds and stocks.

Furthermore, confirmation of the hypothesis that cryptocurrencies are a hedge against inflation is still difficult to come by. The most recent US consumer inflation figures revealed an 8.5 percent increase in prices. During the same period, the crypto market’s capitalization in dollars fell.

For altcoins, correlation with bitcoin remains a key item to watch. Per IntoTheBlock data, Shiba Inu maintains a 56% 30-day correlation with bitcoin. As with any investment, financial planners and other experts advise crypto investors to conduct their research while also putting into consideration the volatility in the cryptomarkets.

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