Bitcoin continues to hold its long-term bullish trajectory, with a potential to reach $1.8 million per coin by 2035, according to Joe Burnett, Director of Market Research at Unchained. Despite recent market corrections and declining investor appetite amid ongoing global trade tensions, Burnett maintains a strong outlook for Bitcoin’s future value.
Speaking during Cointelegraph’s Chainreaction live show on X (formerly Twitter), Burnett stated that Bitcoin is still in a robust growth cycle. He suggested that Bitcoin could eventually challenge or even surpass gold’s $21 trillion market capitalization over the next decade.
Bitcoin’s Long-Term Bullish Trajectory
Burnett referenced two prominent valuation models that project Bitcoin’s future potential. “When I think about where Bitcoin will be in 10 years, there are two models I admire,” he explained. “One is the parallel model, which estimates Bitcoin at around $1.8 million in 2035. The other is Michael Saylor’s Bitcoin 24 model, which predicts a value of $2.1 million by 2035.”
He noted that both models serve as strong foundational projections, emphasizing that Bitcoin’s valuation could exceed these estimates depending on broader macroeconomic developments, such as inflation rates, monetary policy, and investor behavior.
Comparing Bitcoin to Gold and Technological Evolution
Drawing an analogy with technological evolution, Burnett compared Bitcoin’s future to the shift from the horse-and-buggy era to the automobile age. He highlighted that Bitcoin’s inherent technological advantages position it to surpass gold’s current market cap. “The gold market is worth approximately $21 trillion. If Bitcoin were to achieve parity with gold, it would be priced at about $1 million per coin today,” he asserted.
Global Trade Tensions and Market Sentiment
Since the inauguration of former U.S. President Donald Trump on January 20, global financial markets have grappled with heightened uncertainty due to the escalating threat of trade wars. Trump’s aggressive stance on imposing import tariffs to reduce the trade deficit has dampened risk appetite across equity and cryptocurrency markets alike.
Although Bitcoin’s role as a safe-haven asset remains a possibility amid these tensions, physical gold and tokenized gold have recently taken the spotlight. Tokenized gold trading volumes surged to over $1 billion this week—the highest since the 2023 U.S. banking crisis—according to Cointelegraph’s April 10 report.
Institutional Behavior and Bitcoin’s Maturation
Despite short-term fluctuations, Bitcoin’s volatility has been gradually declining in both bull and bear markets, signaling its growing maturity as a global asset class. Burnett emphasized that deep corrections often result in a stronger holder base. “The highs bring Bitcoin attention, and the deep, dark bear markets move coins into the hands of the strongest, most convicted holders, as fast as possible,” he said.
Even with potential drawdowns of up to 80% during future bear markets, these periods will likely serve as strong accumulation phases for long-term investors.
Additional Bullish Forecasts Amid Caution
Arthur Hayes, co-founder of BitMEX and current Chief Investment Officer at Maelstrom, forecasts that Bitcoin could surge to $250,000 by the end of 2025, particularly if the U.S. Federal Reserve initiates another round of quantitative easing.
Still, investor sentiment remains mixed. Enmanuel Cardozo, a market analyst at the real-world asset tokenization platform Brickken, told Cointelegraph that portfolio rebalancing is ongoing, with many investors reluctant to make significant allocations to Bitcoin in the next 90 days. This hesitation is driven by uncertainty surrounding global tariff negotiations.
“With money flowing out of Bitcoin ETFs, investors are looking for safer spots to hold their cash right now, including strong fiat currencies. Gold continues to be a preferred hedge in times of uncertainty,” Cardozo explained.
Read Also: Thailand Targets Foreign Crypto P2P in New Laws
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.
Comments are closed.