BTC BitCoin price Prediction – Million-dollar prediction for BitCoin : A resounding report from VanEck Review and Chart 2022
BTC BitCoin Price Prediction 2024
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This year, a prominent BitCoin and gold “experiment article” came from the global investment company VanEck, which has applied for many ETFs to the US Securities Exchange Commission (SEC). Eric Fine and Natalia Gurushina, from the company’s emerging markets team, made a long and detailed assessment of what levels gold and BitCoin could reach if they were the reserve money in their article.
“The rises in BitCoin and gold will be tough”
While it was stated that the article was an exaggerated scenario that extended to the extreme, it was commented that the seizure of Russia’s reserves discredited these hard-to-get currencies:
“The concept of money has now changed. Sanctions on the Central Bank of Russia made the country unable to access US dollar, euro and Japanese yen assets. This will reduce the demand for such hard-to-find reserve currencies. At the same time, it will increase demand for other assets that can do the same job of these old reserve currencies. We think that central banks will now act as individual actors. Judging by current events, our emerging markets bond investment team tried to assess the emergence of new gold or BitCoin -backed monetary regimes. Our conclusion here is that the possible rises in both BitCoin and gold will be very sharp. The price we have specifically determined here is 31 thousand dollars for an ounce of gold and 1 million 300 thousand dollars for BitCoin .”
“Because the supply of BitCoin is limited”
We know that the amount of gold in the coffers of countries is known. Therefore
, stating that a gold assessment can be made for each country, VanEck stated that the figure to be obtained will also help to measure the pressure to be placed on that country. Stating that a similar study can be done for BitCoin , but the countries do not know how much BitCoin they have, the following statements were included in the article of the company:
“Precious metals are original reserve assets, but cryptocurrencies can be a possible addition or replacement. We’re only using BitCoin here. Because the supply of BitCoin is limited. This figure is 21 million… However, this number can be unlimited in cryptocurrencies. That’s why we were able to do the same calculations for gold in BitCoin . But the key point here is that this extreme scenario may not happen. Or only a certain part of it can happen.”
“Maybe cryptocurrencies are the new gold”
In the article, which states that gold is the easiest asset to obtain for central banks, cryptocurrencies are also It was written that gold is powered by the dynamics that it feeds on:
“Maybe cryptocurrencies will be the ‘new gold’ and there will be an escape to this side due to the need for hard-to-find Coin s at the moment. This may never happen. Maybe episode by episode. However, since BitCoin is the closest crypto currency to gold here, we wanted to make calculations using it. However, it should be noted that even if central banks are much more willing to act on gold than BitCoin , the upward trend (about 33 times) in BitCoin will be much higher than gold (about 16 times). Because central banks, which have more power to act like an individual investor, can make their BitCoin move faster here”