Andrew Tate Predicts Bitcoin Bull Run Has Yet to Begin; $89K BTC Just the Start

• BTC Hits New ATH as Institutional Interest Surges

• Tate’s “Hold Forever” Vision for BTC

• Future Predictions from Veteran Analysts

BTC Hits New ATH as Institutional Interest Surges

Bitcoin hit $89,229 recently and it’s all because of the demand from institutional and retail investors. This 11% price jump in the last 24 hours has taken Bitcoin’s market cap to $1.77 trillion. Analysts say it’s a combination of institutional interest and pro-crypto sentiment. Companies like MicroStrategy which recently bought 27,200 BTC worth over $2 billion have cemented the perception of Bitcoin as a long term investment asset. Such institutional buying not only pumps up the price of BTC but also the stock of MicroStrategy which went up 8% after the latest purchase.

Tate’s “Hold Forever” Vision for BTC

Andrew Tate says Bitcoin’s deflationary nature sets it apart from other investments. Tate says as fiat currencies lose value, investors will adopt a “hold forever” approach. “Prices of everything in the world are going down compared to BTC” Tate said, Bitcoin’s scarcity makes it a better investment than real estate. When the market gets this, the BTC bull run will go into hyperdrive.

https://twitter.com/parrot_coins/status/1856143763036615039

Future Predictions from Veteran Analysts

Analysts and industry veterans are agreeing with Tate’s view. Peter Brandt and Bernstein say Bitcoin could go to $200,000 if pro-crypto policies come under President Donald Trump’s administration. Matt Hougan of Bitwise sees Bitcoin going to $1 million due to post-halving supply cuts that will reduce BTC circulation and create scarcity. This scarcity combined with increasing demand will make Bitcoin a better long term investment.

But not all are optimistic. Economist Peter Schiff says Bitcoin’s growing dominance could destabilize the dollar if the US government creates a Bitcoin reserve, which he considers a risk to national financial stability.

Institutional support and scarcity model looks good for long term. But regulatory and dollar developments to watch.