Bitcoin Could Surge to $120K on 'Doomsday Rally,' Trader Says | • CRYPTO NEWS • #BTC • #ETH •
Bitcoin Could Surge to $120K on 'Doomsday Rally,' Trader Says
International politics and the search for an investment hedge could fuel a bitcoin (BTC) surge in the coming months, even after confidence in the largest cryptocurrency was dented by a 10% weekly drop, some traders say. Bitcoin has long been considered a possible hedge against geopolitical events and was originally created in the wake of the 2008 financial crisis. Some traders say the hedging narrative remains viable despite BTC being highly correlated with traditional market assets for several years.
