Bitcoin could reach $80,000 to $100,000 by year's end, says Rebecca Chow

07/11/2024 22:51
Bitcoin could reach $80,000 to $100,000 by year's end, says Rebecca Chow

Rebecca Chow discusses bitcoin's potential performance and strategic investments for 2024.

As the year draws to a close, the cryptocurrency market is buzzing with speculation about bitcoin's future. In a recent discussion, Roundtable anchor Rob Nelson, and Rebecca Chow, Head of Investment Research at ViaBTC Capital, shared their perspectives on bitcoin's trajectory and investment strategies.

Nelson kicked off the conversation by asking Chow for her predictions on bitcoin's end-of-year value. Despite the inherent uncertainties in the market, he sought to understand where she believed bitcoin might land, given her extensive research and the investment decisions at ViaBTC Capital. Nelson highlighted the anxiety of investors who bought bitcoin at higher prices, seeking guidance on what they should expect in the coming months.

Rebecca Chow emphasized that ViaBTC Capital's approach doesn't hinge solely on bitcoin's short-term price fluctuations. Instead, they focus on emerging markets and blockchain technologies. She explained that while bitcoin's price does influence the short-term market, their investment thesis looks beyond it, targeting the potential of new technologies and consumer applications in the blockchain space.

Nelson, persistent in his inquiry, nudged Chow to share her gut feeling about bitcoin's price. He pointed out that while this isn't investment advice, having a ballpark figure could help investors frame their expectations. Chow, however, steered the conversation towards a broader strategy, advocating for dollar-cost averaging (DCA) as a prudent approach. She suggested that regularly buying bitcoin, regardless of its current price, could be beneficial in the long run, especially given the volatility of the crypto market.

While Nelson sought a specific number, Chow remained cautious. She acknowledged that many analysts are predicting a range between $80,000 and $100,000 by the end of the year. This cautious optimism reflects a broader sentiment in the crypto community, balancing the potential for significant gains with the inherent risks of the market.

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