Strictly speaking, Melker believes once crypto exchange-traded funds (ETFs) make it easier for institutions and general investors to buy the asset, it will overtake gold. When asked why ETFs would drive the price of Bitcoin to seven figures, for example, Melker responded: Whatsmore the prominent crypto trader elaborated further why he is so bullish on Bitcoin he declared:
A six-figure asset by within the next year
According to Melker, Bitcoin is going to “flip gold very soon” as the gold is “pretty much dead, and Bitcoin replaces it as a superior option”. Based on Bitcoins current performance in the market and how it has performed over the last year, the podcaster declared: With regards to the short term price movements and what the trader considers to be the primary driver of price movements, Melker thinks: Nevertheless, Bitcoin’s price is $45,214 at the time of publication, down 1.90 percent in the last 24 hours and 2.28 percent in the past week, with a market cap of $849 billion and a market dominance of 44.3 percent, according to CoinMarketCap.com data. Watch the full interview: [coinbase]
