However, during periods of financial instability, such as the 2022 outbreak of the Russia-Ukraine conflict or the 2023 Silicon Valley Bank collapse, Bitcoin tends to act as a safe-haven asset, similar to gold.“These moments are rare,” Chung explained, “[They] only happened when the market has doubts about the stability of the US dollar-dominated financial system.”While Bitcoin has lagged behind gold during recent market turbulence, Chung suggested BTC could “catch up” and potentially outperform traditional safe-haven assets by year’s end.
Related: Bitcoin trades at ‘40% discount’ as spot BTC ETF buying soars to $3B in one weekBitcoin’s dual role Chung also discussed Bitcoin’s dual nature, describing it as both a “risk-on asset” and “digital gold.”He said that Bitcoin typically behaves like a high-risk asset driven by user adoption and network effects.
Related: New Bitcoin price all-time highs could occur in MayBitcoin hits $94,000 as institutional adoption expandsEchoing Chung’s view, Bitwise CEO Hunter Horsley said in a recent post on X that Bitcoin’s surge to $94,000 has occurred with minimal retail participation, noting that Google searches for “Bitcoin” remain near long-term lows.
or
Share This Story
Article Details
Author / Journalist: Cointelegraph by Amin Haqshanas
The story "Bitcoin could hit $210K in 2025, says Presto research head" has 430 words across 16 sentences, which will take approximately 2 - 4 minutes for the average person to read.
Which news outlet covered this story?
The story "Bitcoin could hit $210K in 2025, says Presto research head" was covered 13 hours ago by Coin Telegraph, a news publisher based in United States.
How trustworthy is 'Coin Telegraph' news outlet?
Coin Telegraph is a fully independent (privately-owned) news outlet established in 2013 that covers mostly crypto news.
The outlet is headquartered in United States and publishes an average of 33 news stories per day.
It's most recent story was published 7 hours ago.
What do people currently think of this news story?
The sentiment for this story is currently Neutral, indicating that people are not responding positively or negatively to this news.
How do I report this news for inaccuracy?
You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.
