The potential future of bitcoin’s price and market dominance was the central theme of a recent discussion. The conversation explored bitcoin's prospects for reaching new highs by the end of the year and whether it could fall below $40,000.

Roundtable anchor, Rob Nelson, led the discussion, with Gary Cardone of Cardone Digital Ventures, offering his outlook on bitcoin’s growth and its position in the global financial landscape.

"I think we've seen the low at the $49,000 range. It bounced hard off that," Gary Cardone stated when asked if bitcoin might drop below $40,000. He emphasized bitcoin’s significant growth over the past year, saying, "16,000 was last year's summer price, we've moved a lot."

Cardone pointed to the entry of key players like Cantor Fitzgerald’s Howard Lutnick as a sign of the market's strength, stating, "When that guy shows up, he supercharges the industry." He remarked that major actors like Fidelity could further drive bitcoin’s growth, adding, "We needed another player with different muscles to really supercharge the industry."

Lutnick has also signed on as one of former President Trump's transition co-chairs, meaning he'd be a key hand in shaping Trump's policies. Considering Lutnick also custody's treasuries for Tether, it's highly likely he'd be quite pro-crypto.

When asked if bitcoin could reach $1 million in the next five years, Cardone said, "In order to get to $4 trillion, we’ve got to get to $3 trillion. At $100,000, you're at a $2.1 trillion market cap. That's not big, man."

He concluded by predicting bitcoin's price would need to break the old all-time high before accelerating and taking bitcoin’s dominance to the high seventies, calling it an "extremely positive" development for the cryptocurrency.