The world’s most popular cryptocurrency soared past US$80,000 on Sunday before trading just shy of US$90,000 by Monday evening.
Crypto ETFs, digital assets, and companies like Coinbase and Robinhood are rallying, and the outlook among analysts suggests a promising investment climate.
“Don’t fight this,” investment firm Bernstein recently encouraged investors, telling them to “buy everything you can,” citing a favorable risk-reward ratio as Bitcoin continues to climb.
The analysts project Bitcoin’s value could hit US$200,000 by 2025, positioning it as a high-reward investment for entrepreneurs looking to diversify their portfolios with a growth asset. In the more immediate future, some are projecting that Bitcoin will reach US$100,000 before 2024’s close.
With ETFs like BlackRock’s iShares Bitcoin Trust drawing US$1.25 billion in inflows last week, it’s clear that institutional support for crypto is on the rise—a sign of potential stability in this traditionally volatile market.
Despite these gains, caution is critical. Anthony Yeung of CoinCover warns newcomers about the rising risk of scams in a bull market. Bitcoin’s volatility is alluring, but before jumping in, new investors must equip themselves with knowledge about market patterns and threats.
In addition to Bitcoin, other cryptocurrencies like Ethereum are also rallying, with Ethereum hitting US$3,371 this week. For those interested in spreading investments across multiple digital assets, options like Ethereum, Coinbase stock, and crypto-friendly platforms like Robinhood are worth exploring. Coinbase saw a 20% jump this week, and Robinhood is nearing a three-year high, showing there’s room to capitalize on the broader crypto ecosystem.