In 2024, Bitcoin gained mainstream acceptance within traditional finance, with significant milestones like MicroStrategy's $42 billion Bitcoin acquisition and the Bitcoin Spot ETF's launch. Analysts predict that institutional and retail investors will start diversifying portfolios with Bitcoin. Brian Russ from 1971 Capital emphasized the need for a catalyst to boost Bitcoin beyond $70,000, noting that the upcoming presidential election may play a role, but current market prices might already factor in potential outcomes. He also highlighted how gold and silver are gaining traction, driven by anti-dollar sentiments and historical trends, as precious metals undergo a decade-long bull market due to extensive fiscal stimulus and economic changes. Regarding Ethereum, although currently underperforming, Russ believes its fundamentals are solid, referencing a significant rise in active wallets and transaction fees decreasing due to the shift to proof-of-stake. He sees potential for Ethereum as a valuable asset in DeFi, bolstered by community support and infrastructure advancements.

Source 🔗