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Can Bitcoin Hit $200,000 Only If The Dollar Falls? Bitwise CIO Answers

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Can Bitcoin Hit $200,000 Only If The Dollar Falls? Bitwise CIO Answers - NewsBTC

Quick Summary:

Bitcoin Can Reach $200,000 Without US Dollar Collapse In a series of posts on the social media platform X, Hougan recounted a conversation with a financial advisor who posed the question over dinner.“Does the US dollar need to collapse for Bitcoin to hit $200,000? The answer is ‘no.’ Here’s why,” Hougan wrote.

Related Reading: Bitcoin Volatility To Peak By November 8 As Trump Trade’ Intensifies – Report Addressing the initial question directly, Hougan asserted, “So, no, the dollar doesn’t need to collapse for Bitcoin to hit $200,000.

First, “Bitcoin will succeed in establishing itself as a new ‘store of value’ asset.” Currently, Bitcoin’s market capitalization is approximately 7% of gold’s $18 trillion market.

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Article Details

Author / Journalist: Jake Simmons

Category: Crypto

Markets:

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News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-30 @ 17:00:50 (1 days ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 448 words

Reading Time: 3 minutes read

Sentences: 60 lines

Sentence Length: 8 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © NewsBTC

News ID: 23342721

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Main Topics: Crypto

Official Website: newsbtc.com

Update Frequency: 6 posts per day

Year Established: 2013

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News Last Updated: 10 hours ago

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