Bitcoin (BTC) has been expanding around the world as a digital currency that can be used for payments or to store value. The cryptocurrency has also experienced different periods of price increases and bear markets. However, enthusiasts are always wondering how far Bitcoin could grow in the future.
Could Bitcoin Reach $350k?
According to the crypto expert and investor on Twitter HodlWhale, if Bitcoin absorbs gold’s value in the market the digital currency would reach a price of $350,000. There are some experts that believe that Bitcoin could eventually replace gold in the market as a store of value. Nonetheless, taking gold’s dominance in the market is not something easy to do.
At the moment, gold has a market capitalization of $7.83 trillion, while Bitcoin has just around $90 billion. If Bitcoindisplaces gold as a store of value, the digital currency could increase its price and reach $450,000 according to the research group Crypto Voices.