May 20, 2024

Ben Emons, senior portfolio manager at NewEdge Wealth, shares his prediction on bitcoin's (BTC) price and explains why it could reach the $100,000 level based on the fundamental flows coming into the asset class.

Video transcript

Where do you see, uh Bitcoin headed by the end of the year? I think the last time we spoke, you, you said it could hit $100,000 basically set sky is the limit because it is sky is the limit, right? And I mean, and the reason why 100,000, which some people have said this in the past the late great uh Scott Miner, for example, from Guggenheim, he, he, he mentioned numbers like that. I base it upon now that this is really driven by fundamental flows coming in that asset class. You know, if it's regulated through an ETF that is a very important step forward to fundamental investors buying the asset instead of all the speculators. I think that's why there's a scope for going to 100,000. Now when we're gonna reach that, I don't know. But it seems to me like some sort of a benchmark where we, we hit a little over 70,000, we broke the highs, but it seems that that's not really where we're gonna end up. That seems more momentum behind it.

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