Whether or not the leading digital asset, Bitcoin continues to garner more foe or supporters, one sure thing is the rapid increase in the price of the digital asset. As experienced this year, Bitcoin has seen its price top well over its all-time figure after the Black Thursdays event in March.
The Black Thursday is an event in March, months to the most anticipated Bitcoin halving event as Bitcoin saw the bulls take over to run its price down by 50%. Even though the coin has risen rapidly to give investors profits, some are still against the digital asset.
Paul Tudor Jones backs Bitcoin to make another bullish run
While a huge part of the global population is now turning to crypto, one person leading the charge is a billionaire that has reaped massive returns via crypto has made a clarion call. Even though he was not in favor of Bitcoin from the jump, Paul Tudor Jones has now given the Bitcoin market his full attention.
Presently, Paul Tudor Jones is one of the most prominent Bitcoin enthusiasts across the globe. In his latest interview with Yahoo! Finance, Paul Tudor Jones commented that he thinks that the sky is just the beginning for the leading digital asset.
Furthermore, the Bitcoin investor and billionaire has reiterated that he is backing the digital assets to make another bullish run in the crypto market in the coming months. Nevertheless, Tudor Jones noted that even though he feels the digital asset will make a massive jump in the future, it will not do so without first encountering some price corrections and decline runs on its way to the top.
Also read:According to analysts, most assets in the market tend to undergo this phenomenon on their way to the top. According to a previous prediction that was made by Tudor Jones, Bitcoins market cap will be nothing less than $8 trillion in the next 20 years.
Analysts back Bitcoin to replace gold as a store of value
Even though many analysts have come forward with a theory of the price of the premier token will be in the coming years, most of them have noted that it is almost impossible to predict the price of assets like Bitcoin and other crypto markets. This confidence that Tudor Jones is exhuming is a signal that most major investors are backing Bitcoin in the long term, which is an integral boost for the cryptocurrency. With more predictions pouring in due to the price surge, major analysts have noted that in the next few years, Bitcoin might upset gold to become the most dependable assets used to store value.
With its market capitalization a little above $350 million, Bitcoin stands very tall amongst all other assets in its class in this regard. The coin is presently selling for $19,000, and analysts have backed the coin to hit the $20,000 mark before the end of December.
Presently, Bitcoin has increased its market dominance over other digital assets, with the crypto boasting of a 62% score. In his interview, Paul Tudor Jones noted that Bitcoin could be likened to the internet stocks that were rampant in 1999 as no one had an idea that they were going to achieve numerous successes.
At Tokenhell, we help over 5,000 crypto companies amplify their content reach—and you can join them! For inquiries, reach out to us at info@tokenhell.com. Please remember, cryptocurrencies are highly volatile assets. Always conduct thorough research before making any investment decisions. Some content on this website, including posts under Crypto Cable, Sponsored Articles, and Press Releases, is provided by guest contributors or paid sponsors. The views expressed in these posts do not necessarily represent the opinions of Tokenhell. We are not responsible for the accuracy, quality, or reliability of any third-party content, advertisements, products, or banners featured on this site. For more details, please review our full terms and conditions / disclaimer.