In a recent conversation, Peter Dunworth, who runs The Bitcoin Adviser, shared some great insights into what's to come in Bitcoin. He thinks things are looking good, especially with the Bitcoin halving and other factors that could send the market higher.
On the podcast The Why Bitcoin Show with Dale Warburton, Dunworth mentioned that some people are questioning whether the Bitcoin halving has already been factored into market prices. Technically, that should be the case, he said, but he believes there are other things to consider that could impact Bitcoin's price next year.
He stressed the potential approval of exchange-traded funds (ETFs) for bitcoin over the next year, estimating that it could unlock a significant amount of capital, ranging from $50 to $200 billion, to flow into bitcoin. Additionally, Dunworth pointed to the impending halving, an election year in the US, ongoing quantitative easing, and interest rate volatility as factors that could contribute to a bull market.
“There are a lot of factors that will play out over the next 12 months and, you know, there's not a lot of negativity around this,” he said. That's what gives me the biggest cause for concern because I look at it, and I think this is one of, if not the, best trades I've ever seen in the next 12 months. What are we looking at? Well, as you know, we're looking at ETF approval in the next 12 months that will unlock at least $50 billion to $200 billion in capital; It will flow into Bitcoin.”
Dunworth encouraged people to be a little bold and take advantage of the opportunity with Bitcoin. He believes the time is right to make a smart long-term move. The conversation touched on potential issues, such as if ETF approval is delayed or if there are unexpected actions from regulators. They also talked about miners, the people who help create new bitcoins, and how they could be affected by the halving.
Looking ahead, Dunworth guessed that by December 2024, Bitcoin could be worth between $125,000 to $150,000. He said this is just his guess and that things could get even crazier in 2025.
