Strive CEO Forecasts Strongest Bitcoin Cycle Ever Amid Dollar Weakness
Bitcoin's latest price surge has broken records, rising by $14,264 to close at $77,387 last week. This represents a 22.7% increase over seven days, according to crypto.news price data.
Strive CEO Matt Cole believes that this next cycle could be the strongest yet for Bitcoin, citing several factors that support his forecast. He points out that the cryptocurrency has broken out against both the US dollar and gold, with the Bitcoin-to-gold ratio reaching its highest level since May.
Cole expects dollar weakness and a growing demand for scarce assets to drive up the price of Bitcoin over the next 12 to 18 months. He notes that as artificial intelligence makes certain resources more abundant, investors will increasingly seek out assets like gold and silver, which have limited supply. Bitcoin, he argues, fits into this category.