Bitcoin’s recent rally shows no signs of slowing down, and several key market dynamics are supporting the momentum, according to veteran market commentator Kyle Wool.
Speaking on the latest developments, Wool specifically noted the growing legitimacy of Bitcoin as a currency and his bullish outlook for the asset.
“I think it has some basis,” Wool said, pointing to favorable conditions such as a dovish Federal Reserve and President Donald Trump’s pro-crypto sentiment. “I wouldn’t short Bitcoin. If I owned Bitcoin, I would hold it. If it went down, I would probably buy it,” he added.
Wool, who had not previously invested much in Bitcoin, considered the moment a turning point and described it as a “moment of legitimacy” for the digital asset.
According to Wool, Bitcoin's rise, combined with the expanding opportunities in artificial intelligence and technology, paints a promising picture for investors.
Beyond Bitcoin, Wool focused on other high-growth areas like artificial intelligence (AI) and big tech. He highlighted three major investment opportunities tied to the AI revolution: chips, data centers and nuclear power.
*This is not investment advice.