"Hmm, when do you want to go up to that price?"
Since the beginning of 2023, the price of the king of cryptocurrency Bitcoin (BTC) has finally managed to witness a significant rise after a long period of continuous decline in 2022.
For the record, BTC was around $15,000 in November 2022 but its price doubled past $30,000 by April 2023, however it did not last long as the digital asset fell again in the past few weeks.
This is because lately there have been regulatory concerns in the United States (US) that have led to the collapse of some crypto-friendly financial institutions such as Signature Bank and Silvergate Bank.
According to Nikolaos Panigirtzoglou, a strategist at JPMorgan Chase & Co. predicts the price of BTC has the potential to cross the $45,000 mark, but it must be remembered that gold must also rise if it wants to push the digital asset higher.
At the moment, the price of gold including BTC if viewed over time always moves in tandem as it is considered an alternative asset for investors who want to expand their financial portfolios.
Coupled with the BTC halving event in April or May 2024 that happens every four years, most investors are speculating that BTC production costs will reach $40,000.
Like to be informed that the price of BTC previously also saw a drastic increase during the halving event of the digital asset in 2016 and 2020, commented Panigirtzoglou.
