July 23, 2024
Chicago 12, Melborne City, USA
Bitcoin News

Bitcoin Price To Hit $20K Mark When US Banks Invest

Bitcoin price prediction uptrend movement graph. Stock trading graph of BTC/USD chart with candlesticks. Bitcoin analysis trend movement after halving.
Bitcoin price prediction uptrend movement graph. Stock trading graph of BTC/USD chart with candlesticks. Bitcoin analysis trend movement after halving.

Bitcoin has been stagnant over the last few weeks. However, there has been a possibility for it to reach the $9000 mark. There are also speculations that it might further surge up.

However, an analyst has claimed that Bitcoin can breach the $20k mark it the United States based banks start to invest even one per cent of their assets.

Capriole digital asset manager Charles Edwards said he had no hard feelings to see what is going on.

“Not hard to see where this is going”

“If US banks put just 1% of their assets into Bitcoin as an investment, hedge or insurance… the Bitcoin price more than doubles,” he wrote on Twitter, adding:

“Just 1 NASDAQ stock (Grayscale) already owns 2% of circulating Bitcoin supply today. It’s not hard to see where this is going.”

Edwards also presented the chart of US which showed the asset balance as a proof of growing impact. In this situation the comments from him comes just at the right time.

“It’s not a matter of good or bad, it’s just a fact,” Edwards added.