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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning
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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

Bitcoin (BTC) May surge 10X and Xapo CEO Suggest Investment

Dalmas Ngetich
Dalmas Ngetich
1 year ago
2 mins read
Bitcoin, BTC

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Created by industry experts and meticulously reviewed
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  • Bitcoin price steady above $5,000
  • Arthur Hayes projects Bitcoin at $50,000

Analysts are bullish. Of the many, Arthur Hayes of BitMex believes fundamentals are aligned pricing BTC at $50,000. With such a valuation, BTC will outperform traditional assets. Because of that, Wences Casares of Xapo suggests investing one percent of an investment portfolio in the digital asset.

Bitcoin Price Analysis

Fundamentals

Price leads sentiment and right now, Bitcoin is on an uptrend. After 15 months when prices slid from $20,000 to lows of $3,200, there is relief that the market is bottoming up at last. Because of this optimism and newfound momentum, there are all sorts of analysts that are confident that the world’s most valuable coin will hit six or even seven digit valuation in the next few years.  Arthur Hayes, the founder of BitMex, one of the few exchanges allowing margin trading as well as futures trading of Bitcoin prices, is unwavering. After last year’s projection didn’t come to pass, he still maintains a $50k price tag.

In the Venture Coinsight podcast with Luke Martin, the Hayes said Bitcoin prices could “materially go higher if the world plays out the way I think it’s gonna play out.” If that is the case, then the coin is undervalued, and the next parabolic wave would, therefore, lift the asset valuation by 10x of what it presently is.

For this reason, Xapo CEO Wences Casares believes that strong returns from Bitcoin should, therefore, translate to most portfolios investing at least one percent in the asset because of it continuously outperforming other traditional assets as indices and stocks:

“I suggest that a $10 million portfolio should invest at most $100,000 in Bitcoin (up to 1% but not more as the risk of losing this investment is high). If Bitcoin fails, this portfolio will lose at most $100,000 or 1% of its value over 3 to 5 years, which most portfolios can bear. However, if Bitcoin succeeds, in 7 to 10 years that $100,000 may be worth more than $25 million, more than twice the value of the entire initial portfolio.”

Candlestick Arrangements

Bitcoin BTC

At the time of press, Bitcoin (BTC) is up one percent and a couple of dollars away from $5,100. All pointers hint at bulls, and to that end, prices may close above $5,000 at the back of light transaction volumes.

Because of the shifting sentiment and bulls flowing in, every low is technically a buying opportunity for risk-off traders aiming at $6,000.

On the other hand, risk-averse or conservative traders should wait for a close above $5,500 complete with high transactional volumes before taking with similar targets of $6,000 and even $8,000.

Technical Indicators

Volume-wise, trading ranges are tight. Reflecting these are low transactional levels meaning our anchor bar is as per yesterday’s BTC/USD trade plan. Any bar lifting prices above $5,500 must be with high volumes exceeding 19k of Apr-11.

Chart courtesy of Trading View.

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Dalmas Ngetich
Dalmas Ngetich

Dalmas Ngetich

Dalmas, a seasoned crypto reporter, brings a unique perspective to the industry. His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape.

Read more

His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto.
The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance.

His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry.

Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion.

Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers.

DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations.
Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language.

Dalmas is here to help make the tech easy to understand and digestible, even for beginners.
The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential.
This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting.

Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature.

When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills.
You can connect with Dalmas on X: @Dalmas_Ngetich, or contact him on Telegram @Dalmas_Ngetich.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

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