What is the Target Value for Cryptocurrency?

 

Key Points:

  • Bitcoin set a new high at $66,000, increasing the ceiling in value for cryptocurrency.
  • As markets become more liquid, there will be more depth to buying and selling.
  • There will also be less price action and volatility.

Commentary:

Last week, Bitcoin reached a new high in value of $66,000, adding another milestone to the world’s largest cryptocurrency. With this accomplishment, we wanted to know what this could mean for Bitcoin and cryptocurrency as a whole. So, we asked a couple of experts in the cryptocurrency world, Chris McAlary – CEO of Coin Cloud, and James Putra, VP Product Strategy at TradeStation Crypto, about what sort of goal in value for cryptocurrency should these cryptos try and obtain.

Abridged Thoughts:

As markets become more and more liquid, and there’s more depth to buying and selling, you’re going to see less price action and volatility. Things like ETFs being traded. More and more people are able to buy and sell through retail, whether it’s on a Robinhood app or Venmo or add a digital currency machine. These markets become more and more liquid, and the price stability becomes present. – Chris McAlary.

This is very hard to put a target on. The key here is really working through the pent-up demand that’s in the system. Once this asset class is fully accessible to those that desire exposure, then we should be at a stability standpoint. There’s still a tremendous amount of capital on the sidelines that want exposure to this asset class that cannot. For example, in the U.S., 10 trillion dollars of assets are tied up with advisors prevented from accessing spot crypto. The ETF is a big step, but there needs to be more to reduce concentration risk. – James Putra.

More Stories Like This:

How Crypto Exchanges Can Avoid Sanctions By Shedding Criminal Users

Is PayPal a Litmus Test for Crypto Adoption?

 

Follow us on social media for the latest updates in B2B!

Latest

Healthcare Cyberattacks
Healthcare Cyberattacks Grew in 2022
February 3, 2023

Concerning data from cybersecurity firm Check Point indicates an increase in cyberattacks on healthcare organizations by 74% in 2022 from the previous year. Healthcare is currently the third most attacked global industry (1,463 attacks per week) behind government/military (1,661 attacks per week) and education/research (2,314 attacks per week.) And in the United States, Healthcare […]

Read More
CES 2023 crowd attendance
Top Trends at CES 2023 from Bosch, John Deere, and More
February 3, 2023

Top notch technology and top notch attendance secured CES 2023 its gold medal; to put it simply, this year’s CES was a huge success. The world’s largest and most prominent consumer electronics and technology exhibition, CES served its usual role as a testing ground for ground-breaking innovations across multiple verticals. From 5G to Web3, and […]

Read More
ACA health plans
Insurance Companies Should Weight the Growth Potential With Risks When Considering Offering ACA Plans
February 3, 2023

The 2023 open enrollment for ACA health plans saw a 13% increase over 2022. Melanie Musson, an insurance expert with USInsuranceAgents.com, says, “Insurance providers have an opportunity to enter or expand in this growing market, but they should practice caution.” The 2023 Open Enrollment Period (OEP) for Affordable Care Act (ACA) Marketplace health insurance plans […]

Read More