Strive CEO Matt Cole stated that the price of Bitcoin (BTC) could rise significantly in the coming years, predicting that the cryptocurrency could reach $500,000 by 2030. Cole expressed strong long-term expectations for Bitcoin.
Speaking at the Bitcoin Treasuries conference, Cole argued that investors who don’t buy Bitcoin at current price levels may miss out on significant future profit opportunities. According to Cole, Bitcoin is still trading at a relatively low valuation when considering the long-term price outlook.
Cole linked this view to Bitcoin’s current position relative to its 200-week moving average. Noting that the Bitcoin price is not significantly above this long-term technical indicator, the Strive CEO stated that he therefore believes current levels are still relatively cheap for Bitcoin.
The 200-week moving average stands out as one of the technical indicators used to assess long-term price trends in the Bitcoin market. Based on the average of prices over the past 200 weeks, the indicator helps track the asset’s position within the long-term market trend.
Cole also emphasized that he is quite optimistic about Bitcoin. The $500,000 price level he mentioned for 2030 is a prediction reflecting his long-term expectations rather than current market conditions.
Whether Bitcoin reaches this level will depend on numerous factors, including market demand, institutional adoption, macroeconomic conditions, liquidity, and regulatory developments. Cole’s statements indicate that long-term bullish expectations for Bitcoin remain on the agenda among institutional market participants.
*This is not investment advice.
