In the last 7 days there was little movement in the Bitcoin price. The largest crypto currency was traded in a price range of 9,000 – $ 9,500. A recent report by the well-known rating Agency, “Weiss Crypto Ratings” now brings back a little more Opium into the market. In the bullish scenario, the Agency describes that the Bitcoin exchange rate has a potential of 180,000$.
In this article, we follow the reasoning to see, therefore, what conditions must be met in order for Bitcoin can reach the magic mark of 180.000$.
Bitcoin exchange rate as a profiteer? – The world is waking up
Our article refers to a report, the analysts Bruce Ng and Juan Villaverde, 17. June on the official site of White Crypto Ratings have been published. Ng and Villaverde talk in the report about the potential of the Bitcoin exchange rate. Here, you consider two major factors:
the demand by institutional investors undBitcoin and its comparability to Gold as a scarce asset
Let’s first look at what arguments are made with regard to the institutional investors. To put it differently: What is the impact of the “Big Money” on the Bitcoin exchange rate?
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Institutional demand for BTC increases significantly
As we have already reported in the past, increases the interest of institutional investors for Bitcoin significantly. For this purpose, there is on the one hand, statements by hedge Fund managers such as Paul Tudor Jones. Other managers, such as Raoul Paul attested to the biggest crypto-currencies have a strong potential for growth.
On the other hand, the objective evidence to show digits of the Grayscale Bitcoin Trust (GBTC), the demand for BTC is increasing. The following graphic shows the growth of the Grayscale Fund.
It is important to understand that 88% of the customers and investors of this Fund are institutional investors: banks, hedge funds, and Family Offices, for example. The analysts of the Weiss Ratings conclusion that Bitcoin has now reached the big money, and many acknowledge that
Bitcoin Safe-Haven Asset with the greatest rate potential.
Such a statement is quite bullish and shows the positive attitude of the analysts and institutional investors to the crypto-currency. Now let’s take a look at another Safe-Haven Asset: Gold.
Bitcoin and Gold: you Can reach the Bitcoin exchange rate part of the market capitalization of the precious metal?
In the second part of the report, the focus is on the comparison of Bitcoin and Gold. Here, too, the analysts of the crypto-currency attest to some advantages compared to the precious metal. No matter whether security, portability, or actual use of BTC hit Gold in many aspects.
According to the opinion of the analysts of this Narrative is always clear and the reason for the entry of the institutions. This can therefore understand more and more that Bitcoin metals the stainless in the major categories is superior.
From this perspective, analysts estimate the potential for the Bitcoin exchange rate.
If Bitcoin takes up only a 1/3 of the ‘Gold Safe-Haven business, then the Bitcoin price is 180.000$. This would be a growth by a factor of 20.
With this analysis, Weiss Crypto credit Rating is actually not alone. In the past, some analysts have used Gold as a reference to create a valuation for Bitcoin. Even if the scenario from today’s perspective may sound very bullish, does not exclude such a growth in a reasonable period of time.
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What do you think about the Report of White Crypto Ratings? – Can you imagine a Bitcoin exchange rate of 180,000$, or you consider such Numbers as to be unrealistic?
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(Image Source: Shutterstock, White Crypto Ratings)