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?
Latest
Mastering AV Sales Strategies: A Diverse Market Requires Understanding Individual Needs
Mastering AV sales strategies in a global professional audio-visual (Pro AV) market, poised to reach $79.2 billion by 2028, requires much attention to detail. The surge in demand from corporate, government, and institutional sectors, driven by the need for enhanced productivity and efficient working environments, gives AV sales pros a lot of opportunity. In […]
Cybersecurity in Healthcare: Addressing the Growing Threat
To keep up with the growing threats, cybersecurity in healthcare is a high-level priority. The recent ransomware attack on Ardent Health underscores a stark reality for the healthcare industry: cyber threats are a significant and ongoing challenge. Mike Saylor, the CEO of Blackswan Cybersecurity, LLC, sheds light on the complexities of cybersecurity in healthcare. […]
Effective Debt Management Holds the Keys to Small Business Cash Flow and Growth
Effective debt management through a robust accounts receivable system is essential for small business cash flow and growth, necessitating automated payment schedules and strategic policy adjustments. Collaborating with a collection agency as a strategic partner can enhance revenue recovery while preserving positive customer relationships. How critical is effective debt management for the financial health […]