As Bitcoin hovers between $90,000 and $95,000, down over 10% from its recent all-time high of over $100,000 level, there is a growing difference between traders, who expect another decline based on technical analysis, and the long-term investors, who believe that the bull run is far from over.
David Siemer, CEO of Wave Digital Assets, which provides asset management services to crypto investors, shared this perspective. Notably, his firm works with high-net-worth individuals and counts Cardano’s CEO, Charles Hoskinson, among its clients.
“In 14 years of owning bitcoin, I’ve never seen a dichotomy like this,” Siemer noted in an interview with Coindesk. “The traders are all worried and nervous and hedged, fully neutral or worse. And the long-term people are all super bullish,” he added.
Further, Siemer believes there’s a strong chance Bitcoin will reach $200,000 this year and thinks it could hit $1 million per coin eventually, though not in the near future. He adds that many smart, well-connected people are also very optimistic, and significant developments are expected in the next six months than most people realize.
Developments Coming Up
Siemer noted that several countries, including the U.S., Russia, Singapore, the United Arab Emirates, South Korea, Japan, the Philippines and some European nations are planning significant steps to support crypto