The chief executive of Sound Planning Group has predicted a major surge in bitcoin prices, stating that the cryptocurrency is priced for a “serious rally.” He identified Bitcoin's impending halving and the adoption of exchange-traded funds (ETFs) as key factors driving bullish predictions for the digital currency's price. The financial advisor believes that bitcoin "is a real asset class" that will have "a lot of value."
Commenting on the price of bitcoin, he said:
I think bitcoin is currently priced right for a serious rally.
He explained that the upcoming Bitcoin and newly launched bitcoin exchange-traded fund (ETF) approved by the US Securities and Exchange Commission (SEC) last month was the catalyst for BTC price upward momentum.
Stryzewski detailed that as new institutional money, which he calls “big money,” starts flowing into spot bitcoin ETFs, there will be “more price momentum on the upside.” He also highlighted the importance of spot bitcoin ETFs that give retail investors greater exposure to BTC.
Underlining his optimistic view on bitcoin, the investment advisor stressed:
this is a real asset class that I believe will have ... a lot of value here, especially as we move forward into the future.
David Stryzewski, investment advisor representative and CEO of Sound Planning Group, explained on Schwab Network on Thursday why he believes bitcoin prices are ready for a serious rally. Stryzewski was named “Advisor of the Year” by the National Society of Social Security Advisors in 2016 based on his knowledge of social security, wealth management, and retirement planning. Stryzewski also cautioned investors against buying bitcoin directly, warning of the risk of losing their entire investment if they lose their private key. He notes that investing in a spot bitcoin ETF avoids this problem.
Do you think bitcoin price is right for a serious rally? Let us know in the comments section below.
