The CEO of Sound Planning Group has projected a significant increase in the price of bitcoin, saying that it is set for “a serious rally.” He said that the adoption of spot bitcoin exchange-traded funds (ETFs) and the impending Bitcoin halving would be the main drivers of his optimistic forecast for the price of the cryptocurrency. According to the financial expert, bitcoin “is a real asset class” with significant future value.
“The Price of Bitcoin Is Now Appropriate for a Serious Rally”
The CEO of Sound Planning Group and an investment adviser representative, David Stryzewski, gave an explanation of his belief that the price of bitcoin is about to experience a significant upswing on the Schwab Network on Thursday. Due to his expertise in retirement planning, asset management, and social security, Stryzewski was named the 2016 “Advisor of the Year” by the Society of National Social Security Advisors.
Regarding the cost of bitcoin, he stated:
Bitcoin, in my opinion, is currently priced for a significant upswing.
He clarified that the impending halving of Bitcoin and the recently introduced spot bitcoin exchange-traded funds (ETFs), which were approved by the U.S. Securities and Exchange Commission (SEC) last month, are what are driving the cryptocurrency’s upward price trend.
Stryzewski went on to say that there will be “a lot more price momentum on the upside” when fresh institutional money—what he referred to as “big money”—begins to stream into spot bitcoin ETFs. He also emphasized how crucial it is that spot bitcoin exchange-traded funds (ETFs) give regular investors more exposure to bitcoin.
Emphasizing his positive view on bitcoin, the financial expert said:
It’s a true asset class that I think will exist. a great deal of value here, particularly going forward.
Stryzewski also advised against immediately purchasing bitcoin, citing the possibility that they would forfeit their entire investment in the event that they misplace their private keys. He pointed out that this issue is avoided when investing in spot bitcoin ETFs. He claimed, “This is one issue that the ETF genuinely resolves,” and that investors “don’t have to worry about losing them” because they aren’t keeping the coins in their possession. He stated that “you can sell it when you want to sell it or hold it as long as you want” with bitcoin ETFs.
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