- Analyst predicts the current Bitcoin cycle could reach $450,000, signaling a significant full cycle.
- Institutional adoption is expanding with new BTC derivatives and increasing interest in digital assets.
A tweet from famous crypto analyst Javon Marks has sparked debate over Bitcoin’s (BTC) current market cycle. Marks notes that earlier analysis indicates the past Bitcoin cycle was incomplete, acting just as a forerunner of the present one.
Based on the potential to reach the red zone in the Rainbow Price Chart model, Marks argues that the current cycle appears to be a “full cycle.” Should this trend continue, BTC might approach $450,000.
Institutional Interest in Bitcoin Spurs New Opportunities
Leading derivatives exchange Cboe revealed in November the introduction of cash-settled Bitcoin index options in line with the growing institutional curiosity in Bitcoin. Offering more access to Bitcoin derivatives for both institutional and retail investors, this new instrument is linked to the Cboe Bitcoin U.S. ETF Index.
Adding to the enthusiasm, well-known author of Rich Dad Poor Dad Robert Kiyosaki has advised readers to think about Bitcoin before it hits the $100,000 milestone. Once BTC reaches this milestone, Kiyosaki expects ownership of the asset to mostly change to ultra-wealthy people and organizations.
THE RICH WILL GET RICHER:
Q: WHO WiLL BE RICHER?
A: The people who save Gold, Silver. Bitcoin. I own all three financial assets.Q: WhO WILL BE POORER?
A: The people who save dollars, Pesos, Yen, Euro, & Loonies.As I warned in Rich Dad Poor Dad
“Savers are losers…because…— Robert Kiyosaki (@theRealKiyosaki) November 29, 2024
Emphasizing the need for early adoption in the face of increasing demand, his warning acts as a call to action for people who have not yet entered the market.
Reports from CNF, meanwhile, show that just 0.01% of publicly traded corporations globally now own Bitcoin, indicating enormous unrealized institutional acceptance potential.
This difference shows the bigger chances for growth and change in the world of digital assets as the US works harder to protect Bitcoin’s strategic importance as mining conditions around the world change.
Meanwhile, the BTC price at the time of writing is about $96,402.35, a reflection of a 0.36% increase over the last 24 hours and a 38.66% climb over the last 30 days.
