According to some investors, Bitcoin (BTC) could rise to $120,000 in the near future due to geopolitical unrest and increasing interest in alternative assets.
Famous Investor Predicts Bitcoin Will Rise to $120 Thousand Amid Geopolitical Tensions
Despite a weekly decline of 10%, Bitcoin remains an attractive hedge against geopolitical instability, as emphasized by Edouard Hindi, chief investment officer of Tyr Capital.
Hindi highlights Bitcoin's correlation with gold, suggesting that investors are increasingly moving away from traditional financial assets.
“The ETF is currently leading this Doomsday rally, and we should expect $120,000 to be reached in the coming months as global geopolitics continues to deteriorate and the middle classes continue to find ways to preserve their wealth,” Hindi said.
Over the weekend, crypto markets faced significant turmoil due to escalating tensions between Iran and Israel, as well as profit taking ahead of the Bitcoin reward halving scheduled for April 20.
Despite the decline, Bitcoin and major tokens managed to reverse some losses on Monday, but continued their decline during Asian trading hours on Tuesday.
Bitcoin's potential to rise to $120,000 underscores its continued importance as a hedge against geopolitical uncertainties and traditional market volatility, offering investors an alternative way to protect their wealth in an increasingly uncertain global environment.
It is not investment advice.
