Bitcoin Buyers 'Very Late,' Says Financial Analyst Peter Schiff

Financial analyst Peter Schiff asserts that those considering buying Bitcoin in 2024 are "very late," noting that gold's market cap has grown five times more than Bitcoin's this year. While some experts predict significant Bitcoin price hikes, Schiff remains doubtful.

Schiff Calls Bitcoin Investment "Very Late"

If you're still planning to purchase Bitcoin in 2024, you're "very late," says financial analyst Peter Schiff.

According to Schiff, the increase in the value of gold's market cap is five times greater than that of Bitcoin's market cap for the whole year. Data from CoinGecko indicates that the Bitcoin is now worth $1.15 trillion.

Bitcoin Price Rises 38.5% Year-to-Date

Some analysts predict that Bitcoin's price might go much higher despite the fact that, according to U.Today, it is up 38.5% year-to-date.

Previous forecasts made by hedge fund manager Mark Yukso and Tom Lee of Fundstrat said that the price of Bitcoin may reach $150,000 as early as this year.

Bitcoin is expected to surpass the $100,000 level this year, according to Mike Novogratz of Galaxy Digital.

There are some price targets for Bitcoin that are completely out of this world when it comes to the long-term pricing horizon.

Cathie Wood Predicts Bitcoin to Hit $3.8 Million

According to Ark Invest's Cathie Wood, Bitcoin might eventually reach $3.8 million. Institutional investors should put at least 5% of their assets into the crypto king if this exceedingly optimistic forecast is to come to fruition. Wood did not specify in what year she anticipated accomplishing the aforementioned goal.

Michael Saylor’s $13 Million Bitcoin Projection

According to a recent prediction made by Michael Saylor of MicroStrategy, the price of Bitcoin has the potential to climb to $13 million by the year 2024.

Saylor reiterated his prediction at a recent appearance on CNBC, stating that the biggest cryptocurrency will seize 7% of the world's capital. Bear in mind that this is solely his scenario. His bull case, meanwhile, might be worth up to $49 million.

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