The Finder currently measures experts' predictions about the future price of BTC using 2 surveys. Our weekly survey asks a rotating panel of 5 fintech specialists if they are bullish, bearish or neutral on BTC for the next 2 weeks. Our largest quarterly survey, last conducted in April, asks a panel of 35 industry experts for their views on bitcoin's performance over the next decade. Bitcoin (BTC) headed lower until the weekly close on March 6, with geopolitical tensions and associated macroeconomic weakness firmly in the spotlight.
In its latest cryptocurrency market outlook report on March 4, Bloomberg Intelligence remained bullish on Bitcoin and Ether (ETH). Bitcoin prices could experience significant volatility in the coming months, as uncertainty around the Federal Reserve's political decision-making affects cryptocurrency markets, said Collin Plume, CEO and founder of My Digital Money. Although the Securities and Exchange Commission gave the green light to the launch of ProShares's Bitcoin Strategy ETF this year, the product tracks bitcoin futures contracts rather than giving investors direct exposure to the cryptocurrency itself. Given its volatile nature, bitcoin may regain momentum at some point in the future (perhaps weeks, months, or even years later).
If it were all about an inflationary shock, as happened in 1974, most bitcoin investors believe it would provide protection. Some experts also believe that TerraUSD (UST), one of the largest stablecoins, played a role in Bitcoin's crash last week. Bitcoin's struggles have highlighted so-called altcoins such as Cardano, Avalanche and Solana, which have recently surpassed. Bitcoin can be synonymous with crypto, as it was designed as an independent virtual currency that could also be a protection against inflation.
Wall Street wisdom defines bear markets as a 20% decline or more from recent highs, but it's worth noting that bitcoin is known for its volatility. It's easier to exchange major stablecoins for bitcoins or other cryptocurrencies, for example, than to exchange traditional money like U. Bitcoin adoption in Texas could reach 14% by the end of the year, with 8% of Texan adults already owning Bitcoin. If you are thinking of buying Bitcoin (BTC), the most important points to remember are to research and familiarize yourself with all the risks involved.
And if the scalability issues facing the Bitcoin blockchain can be successfully overcome, there seems to be potential for future growth. Tesla continues to come and go in its acceptance of Bitcoin payments, although the company has billions in crypto assets. By tracking futures prices instead of bitcoin itself, experts say, the ProShares ETF could be too risky for novice traders, many of whom invest in cryptocurrencies. It will likely be much longer before it is a smart financial decision to spend Bitcoin on goods or services, but greater institutional adoption could lead to more use cases for ordinary users and, in turn, have an impact on cryptocurrency prices.