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Bitcoin still on track for .8M in 2035, says analyst

Bitcoin remains on track to surpass $1.8 million by 2035 despite recent price corrections and waning investor appetite caused by ongoing global trade tensions, according to Joe Burnett, director of market research at Unchained.

Speaking during Cointelegraph’s Chainreaction live show on X, Burnett said that Bitcoin is still in a long-term bullish cycle and could potentially rival or surpass gold’s $21 trillion market capitalization within the next decade.

Despite tariff uncertainty limiting risk appetite among investors, research analysts remain optimistic about Bitcoin’s (BTC) long-term prospects for the next decade.

“When I think about where Bitcoin will be in 10 years, there are two models I admire,” Burnett said. “One is the parallel model, which suggests that Bitcoin will be about $1.8 million in 2035.” “The other is Michael Saylor’s Bitcoin 24 model, which suggests Bitcoin will be $2.1 million by 2035.”

Burnett emphasized that both are “good base cases,” adding that Bitcoin’s trajectory could exceed these predictions depending on broader macroeconomic factors.

Related: Bitcoin price can hit $250K in 2025 if Fed shifts to QE: Arthur Hayes

Bitcoin outlook remains long-term bullish

“The automobile industry is significantly more valuable than the horse and buggy industry,” Burnett said, adding that Bitcoin’s more advanced technological properties will make it surpass the $21 trillion market capitalization of gold. He added:

“The gold market is an estimated $21 trillion market. If Bitcoin just hit $21 trillion and had Bitcoin-gold parity, Bitcoin would be $1 million per coin today.”

Since US President Donald Trump’s Jan. 20 inauguration, global markets have been under pressure due to heightened trade war fears. Hours after taking office, Trump threatened to impose sweeping import tariffs aimed at reducing the country’s trade deficit, weighing on risk sentiment across both equities and crypto.

While Bitcoin’s role as a safe-haven asset may reemerge amid ongoing trade war concerns, physical gold and tokenized gold remain the current winners.

Bitcoin still on track for $1.8M in 2035, says analyst

Top tokenized gold assets, trading volume. Source: CoinGecko, Cex.io

Tariff fears led tokenized gold trading volume to surge to a two-year high this week, topping $1 billion for the first time since the US banking crisis in 2023, Cointelegraph reported on April 10.

Related: Bitcoin’s 24/7 liquidity: Double-edged sword during global market turmoil

Strong hands hold during drawdowns

Bitcoin’s volatility is falling during both bear and bull markets, signaling its growing maturity as an asset class.

While another 80% drawdown during future bear markets is still possible, this will act as a robust acquisition period for the “strongest” holders, Burnett said, adding:

“The highs bring [Bitcoin] attention, and the deep, dark bear markets move coins into the hands of the strongest, most convicted holders, as fast as possible.”

Arthur Hayes, co-founder of BitMEX and chief investment officer at Maelstrom, predicted Bitcoin could climb to $250,000 by the end of 2025 if the US Federal Reserve formally enters a quantitative easing cycle.

Despite the optimistic predictions, investors remain cautious and continue “rebalancing their portfolios” but are unlikely to take on significant positions in the next 90 days before markets gain more clarity on global tariff negotiations, Enmanuel Cardozo, market analyst at real-world asset tokenization platform Brickken, told Cointelegraph.

“With money flowing out of Bitcoin ETFs, investors are looking for safer spots to hold their cash right now, including strong currencies. Gold’s a traditional vehicle in these cases and a go-to when markets are uncertain,” he added.

Bitcoin still on track for $1.8M in 2035, says analyst

BTC, gold, year-to-date chart. Source: Cointelegraph/TradingView

Since the beginning of 2025, the price of gold has risen over 23%, outperforming Bitcoin, which has fallen by more than 10% year-to-date, TradingView data shows.

Magazine: Bitcoin’s odds of June highs, SOL’s $485M outflows, and more: Hodler’s Digest, March 2 – 8

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No 10 decline to say if Palestine will be recognised with Hamas in power

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No 10 decline to say if Palestine will be recognised with Hamas in power

The prime minister’s spokesman has refused eight times to confirm whether recognition of Palestine could go ahead if Hamas remain in power and the hostages are not released. 

Keir Starmer’s spokesman was questioned by journalists for the first time since the announcement last week that the UK will formally recognise the state in September – unless Israel meets certain conditions including abiding by a ceasefire and increasing aid.

The policy has been criticised by the families of UK hostages, campaigners and some Labour MPs, who argue it would reward Hamas and say it should be conditional on the release of the remaining hostages.

A senior Hamas politician, Ghazi Hamad, speaking to Al Jazeera, said at the weekend that major nations’ decision to recognise a Palestinian state “is one of the fruits of 7 October”.

Gaza latest: Trump pressed to recognise Palestinian state

The PM’s spokesman said on Monday: “The PM is clear that on 7 October, Hamas committed the worst act of terror in Israel’s history. That horror has continued since then.

“As the foreign secretary said over the weekend, Hamas are rightly pariahs who can have no role in Gaza’s future, there is a diplomatic consensus on that. Hamas must immediately release all hostages and have no role in the governance of Gaza.”

But asked whether removing Hamas from power and releasing hostages were conditions for statehood, he said a decision on recognition would be made at the UN General Assembly meeting in September, based on “an assessment of how far the parties have met the steps we have set out. No one side will have veto on recognition through their actions or inactions.”

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Up to 300 children could be evacuated from Gaza and given NHS treatment in the UK. The plans are reportedly set to be announced within weeks.

He added: “Our focus is on the immediate situation on the ground, getting more aid in to end the suffering in Gaza and supporting a ceasefire and a long-term peace for Israelis and Palestinians based a two-state solution.”

Starmer, who recalled his cabinet for an emergency meeting last week before setting out the new position, is following the lead of French president Emmanuel Macron, who first pledged to move toward recognising Palestinian statehood in April.

Read more:
New US plan for Gaza starting to emerge
Hamas responds to disarmament reports

Canada has also backed recognition if conditions are met, including by the Palestinian Authority.

The prime minister had previously said he would recognise a state of Palestine as part of a contribution to a peace process.

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Efforts to bring Gazan children to the UK for urgent medical treatment are set to be accelerated under new government plans.

In his announcement last Tuesday, he said: “We need to see at least 500 trucks entering Gaza every day. But ultimately, the only way to bring this humanitarian crisis to an end is through a long-term settlement.

“So we are supporting the US, Egyptian and Qatari efforts to secure a vital ceasefire. That ceasefire must be sustainable and it must lead to a wider peace plan, which we are developing with our international partners.

“I’ve always said we will recognise a Palestinian state as a contribution to a proper peace process, at the moment of maximum impact for the two-state solution. With that solution now under threat, this is the moment to act.”

Adam Rose, a lawyer acting for British families of hostages in Gaza, has said: “Why would Hamas agree to a ceasefire if it knew that to do so would make British recognition of Palestine less likely?”

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Coinbase turns lobbying efforts to UK in scathing op-ed

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Coinbase turns lobbying efforts to UK in scathing op-ed

Coinbase turns lobbying efforts to UK in scathing op-ed

Former UK Chancellor and current Coinbase adviser George Osborne says the UK is falling behind in the cryptocurrency market, particularly when it comes to stablecoins.

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Nigel Farage dared me to walk in London after 9pm: Here’s my response

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Nigel Farage dared me to walk in London after 9pm: Here's my response

At a press conference today in which Reform UK announced the Tory police and crime commissioner for Leicestershire was joining their ranks, as well as former prison governor Vanessa Frake, I asked Nigel Farage a simple question.

But his answer wasn’t what I expected.

I asked the Reform UK leader if the six-week campaign on law and order, with the tagline “Britain is Lawless”, was in fact project fear scaring people into voting for his party.

He utterly rejected that claim and responded to me saying: “No, they are afraid. They are afraid. I dare you, I dare you to walk through the West End of London after 9 o’clock of an evening wearing jewellery. You wouldn’t do it. You know that I’m right. You wouldn’t do it.”

I am not afraid to walk in the West End of London after 9pm wearing jewellery.

I have done it many times before and will continue to do so… but perhaps that is because I do not own a Rolex.

However, just because Farage is wrong on that point, doesn’t mean he isn’t tapping into other legitimate fears across the country.

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Snatch theft does worry me, hence why I now have a phone case with a strap attached to it that I can put around my body.

And I worry about knife crime in my area and what the impact could be if I were to have children – on the weekend someone was stabbed to death a stone’s throw from my house.

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Farage ‘not mincing his words’

However, if we look at the statistics, it is invariably a more nuanced picture than Farage or social media might have us believe.

According to police reports, thefts from a person in London are almost five times the national average, and they’ve been going up since the pandemic.

And the Office for National Statistics (ONS) also notes that thefts outside of the home, eg phone snatching, has increased.

However, possession of weapons has fallen in London by 29% over the last three years.

And according to the ONS, crime in England and Wales is 30% lower than in 2015, and 76% lower than 1995.

And it is a similar picture for violent crime.

In short, am I right to be more worried that snatch theft and knife crime in London is increasing? Yes, and no.

But Nigel Farage is tapping into voters’ emotions – their feelings that the country is broken. It’s a picture the Conservative Party helped to create and the Labour Party happily painted to great effect during the general election campaign of 2024.

And the more politicians of all colours tell voters that “the system is broken”, the more voters might start to believe them.

That is what Nigel Farage is banking on.

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