Consulting giant Motley Fool, which stands out in the field of Economics and Finance, reports that this cryptocurrency is the most risk-free crypto in May in its recent analysis! So, what is this cryptocurrency? Here are the details…
The consulting giant announced: “This cryptocurrency will be on the rise in May!”
The cryptocurrency market has had a sluggish start to May, and the cryptocurrency market reveals that it still hasn’t gotten out of the crypto winter. Warnings of potential new bank failures, further Fed rate hikes and continued economic weakness have dragged the market down lately. Most of the top cryptos have been sideways or bearish in the last 30 days as traders try to figure out what to do next. Consulting giant Motley Fool announced that the best cryptocurrency to buy in this environment is Bitcoin (BTC). According to experts, Bitcoin is one of the rare digital assets that combines the element of security with a potentially huge rise in the long run.
Bitcoin emerged as a potential safe haven for investors at a time when the USA was experiencing a banking crisis. It seems that with every new bank failure, investors are shifting their money from traditional financial assets to Bitcoin. This, in part, has allowed Bitcoin to gain around 70% this year. But that doesn’t mean it’s completely risk-free, according to experts; BTC still has a long history of extreme volatility and sudden price drops. But there’s good reason why it’s historically been referred to as “digital gold.” Even leading Wall Street investment banks like Goldman Sachs argue that Bitcoin should be seen as a form of digital gold.
Although it has been damaged by the collapses in 2022, it seems hard to ignore its increasing correlation with gold in recent months. This correlation is momentarily the highest in more than a year. That’s why Motley Fool investors recommend BTC.
Experts: “It has upside potential!”
Experts give an example of the enormous bullish potential of the leading cryptocurrency Bitcoin. However, BTC is momentarily trading just under $30,000 and many top traders consider $100,000 to be a reasonable price target for 2024. Others predict a major breakout of up to $149,000, considering changes to the crypto algorithm next year. However, Cathie Wood from Ark Invest even predicted that Bitcoin could exceed $1 million by 2030. Ark Invest uses a multivariate economic model that examines how Bitcoin performs in eight main areas. By predicting future performance in each of these areas and then summing up the potential of each, they make it possible to arrive at a worst-case, base-case, and best-case scenario over the next few years.
One of the variables that Ark Invest is examining is the increasing share of Bitcoin in the money supply of developing countries. While there are some setbacks, such as the ongoing controversy over El Salvador’s acceptance of crypto as a legal tender, the overall trend is towards greater adoption of Bitcoin in countries around the world, from Latin America to the Middle East to Asia. Brazil in particular is notable for establishing a regulatory framework for Bitcoin and other crypto assets by the end of 2022. As long as this international adoption continues, experts think the upside potential indicates a huge upside.
Bitcoin gets the support of regulators
However, experts point out that Bitcoin has the best regulatory outlook among major cryptocurrencies. According to experts, the head of the Securities and Exchange Commission, Gary Gensler, has long agreed that BTC is not a security, meaning that investors can sleep better at night knowing they probably don’t have to worry about regulatory oversight in the US market. At the same time, international jurisdictions are also changing their regulations to be more favorable. For all these reasons, Motley Fool experts reveal that investing in Bitcoin is less risky than other crypto assets in their analysis, but investors should still do their own research carefully and carefully, not accepting this as an investment advice. Cryptocurrencies and digital assets are risky assets.
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