Bitcoin Price Prediction: BTC Could Reach $500K with DeFi Growth and Trump’s Support for Cryptocurrency
kinson predicted that “Bitcoin-based DeFi will surpass all other ecosystems within 24 to 36 months.”
During a keynote speech at a Bitcoin conference in Nashville earlier this year, President-elect Donald Trump made a commitment to establish the United States as the “crypto capital of the planet” by creating a Bitcoin strategic reserve using government-held cryptocurrency.
In light of recent price fluctuations in the cryptocurrency market, with significant sell-offs of Bitcoin by long-term holders, market analysts remain cautiously optimistic about the potential for profits. Haider Rafique, Global Chief Marketing Officer at OKX exchange, highlighted the profit potential for investors with the average holding price at around $30,000.
Despite his bullish outlook on Bitcoin, Hoskinson remains dedicated to Cardano’s role in the cryptocurrency ecosystem, positioning it as a “spiritual successor to Bitcoin.” He emphasized the importance of developing hybrid applications that integrate Bitcoin functionality, showcasing his continued innovation in the blockchain space.
As of now, Bitcoin is trading at $93,201.11, showing a 1.74% increase over the past 24 hours and a 0.63% increase over the last seven days, according to Benzinga Pro data.
In conclusion, Hoskinson’s prediction of a potential surge in Bitcoin’s value, coupled with Trump’s commitment to establish a BTC strategic reserve, points towards exciting developments in the cryptocurrency landscape. Stay tuned for more updates on this evolving market!
