Bitcoin has recently made its all time high on 5 December 2024. It is touching $1,00,000. People are a little worried that Bitcoin can take a correction. If you look at the fear and greed index, it is running at 82 points. At this time many people are thinking of extreme greed. It gives a bullish signal. But it is difficult to say how far Bitcoin will go.
In the month of November, Bitcoin brought in almost $16 billion. More than 70,000 Bitcoin ETF holders have bought it. Blackrock is buying Bitcoin every day. Michael Saylor is also buying Bitcoin all the time. Now Donald Trump is also coming, he will become President on 20 January 2025, he is a supporter of crypto currency. It remains to be seen how far Bitcoin makes its all-time high in the coming times.
From where such signs have started to appear. Where it is settling down. From where it takes a little correction. Whales book a little profit from Bitcoin. That money starts to move in alt coins. The major alt coins for example Ethereum, Solana etc. The market cap in the top 15. Money moves in those. Small caps are bigger than that. There is more of it in Memes coins as well. This is what is being seen.
What will be the price of bitcoin in the future?
It is a mistake to predict the price of bitcoin. The nearest asset is gold. The whole world has a rank of gold. Any asset that can be kept in reserve against that currency, which everyone considers to be gold. The market cap of gold is $18 Trillion. The market cap of bitcoin is $2 Trillion. The day bitcoin reaches the market cap of gold, the rate of bitcoin should be around $9 lakhs. We should not look at the short term, which will not happen. Gold will be available in its physical form, bitcoin will be available in its digital form. Many people say that bitcoin is digital gold.
Gold has slightly better properties than Bitcoin. There are issues with gold for example gold is not portable, it is very difficult to transfer physical gold from one place to another, the cost is very high, gold is not divisible, the most important thing is that gold is not limited, bitcoin is limited, there is information about it, how many bitcoins are there in total.
The world has $900 Trillion in assets. Which has $300 Trillion in real estate. $350 Trillion in bonds. If the market cap of real estate is $300 Trillion, we are seeing that China is crashing, real estate in the whole world is empty as an investment, for example flats, homes etc. If the real estate company passes, if it feels that bitcoin is the right asset, if even 5% of the real estate is $15 Trillion, if bitcoin comes in it, $18 Trillion gold would be sold. If 5% of the bitcoin comes in bonds, then $48 Trillion would be enough for $50 Trillion bitcoin. We cannot imagine what the price of bitcoin would be, so we cannot make predictions.
If you are fooled, where should I go? The answer is that you fool yourself by predicting the price of bitcoin. It is not possible to predict what will be the all-time high of bitcoin.