There is no disputing that Bitcoin has put the NASDAQ in the shade lately, with investors who stick to a dollar cost averaging plan still turning a profit in this bear market. MoneyZG even has its sights set on Bitcoin making its way to $100,000 and beyond.
Consistent Gains for Bitcoin Dollar Cost Averaging Investors
The host at MoneyZG points out some telling figures: an 87% return for anyone who has put aside a steady $100 a week in Bitcoin over the last six years. It is a level of performance that the NASDAQ cannot match, especially when you factor in the volatility and general malaise of the crypto space. The numbers make it clear that Bitcoin has rewarded the long-term investor willing to be disciplined and maintain a regular buying habit, price corrections and all.
Key Resistance Levels and Price Targets
According to MoneyZG, Bitcoin has recently surpassed some key resistance levels, a move that bodes well for further gains. The host notes the medium and long-term charts are in good shape for the asset, though $100,000 stands out as the next big obstacle. One should not underestimate that figure; it is likely to draw selling from investors who missed out on earlier run-ups and could briefly dampen the upward trajectory.
Yet even with the prospect of heavier selling at the $100,000 mark, MoneyZG is not one to lose his bullishness. The analyst sees no reason why Bitcoin cannot reach $100,000 and, if present conditions hold, potentially go on to $560,000 over an eight-year horizon.
Traditional Finance and Inflation as Growth Drivers
MoneyZG points to the growing presence of conventional financial institutions in the crypto space as yet another reason for Bitcoin’s positive outlook. Such an influx of institutional money is viewed as a principal force behind any long-term growth and expansion the asset may see.
Then there is the matter of inflation, which MoneyZG says is on the minds of investors around the globe. As with other holdings, one can expect Bitcoin to gain value as a hedge against those ongoing pressures. In that respect, the macroeconomic environment makes a compelling argument for Bitcoin to outperform more established indices such as the NASDAQ.
This article reflects the channel author’s opinion and is not investment advice.
Source — MoneyZG: https://www.youtube.com/watch?v=XnP1ZoITNFc
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