Expert Says Days of Bitcoin Losing 80% of Its Value Are Long Gone: Here’s His ”Way Higher” Prediction

Bitcoin is experiencing its largest institutional presence since inception, and a market veteran has projected its price will go way higher.

Institutions are flocking to Bitcoin, mainstream adoption is at its all-time high, and market experts believe this is still early. Speaking at an appearance on CNBC’s Fast Money, Steve Grasso, the CEO of Grasso Global, has predicted further highs for the largest cryptocurrency by market cap.

Bitcoin Will Go Way Higher

Grasso stated that Bitcoin is maturing into a prominent asset class amid heightened traction. Backing this adoption is a conducive regulatory environment in the United States.

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The CEO, with over 20 years of market experience, called the current administration the “most crypto-friendly” that the industry has seen since its existence. Donald Trump’s pro-Bitcoin disposition has instilled a warming environment for the maturing sector, with the belief spilling into the US Senate and House.

Meanwhile, clear regulatory frameworks for digital assets are progressing rapidly in Congress, and the US Securities and Exchange Commission (SEC) has switched from oversight by enforcement to clarity, a major catalyst for the growing institutional interest in the crypto industry.

As a result, Grasso assures that Bitcoin would go higher as institutions continue to come around. With corporate and central banks’ adoption still around 2% and 3%, respectively, he projected that more capital would keep flowing into the industry.

For his price target, he predicted Bitcoin’s bullish uptrend through the lens of gold’s market cap. For context, he noted that gold’s current valuation stands at around $20 trillion and Bitcoin’s at $2 trillion.

If Bitcoin, widely known as “digital gold,” closes the gap on gold and claims at least 50% of its market cap, BTC would reach $500,000. However, he predicted an easy surge to between $250,000 and $350,000 in the near term.

Notably, he is not the first to predict Bitcoin’s price using gold’s valuation. Market enthusiasts like Galaxy Digital’s Mike Novogratz and Mexican billionaire Ricardo Salinas Pliego have projected a future where Bitcoin will rival gold and reach its market cap, driving prices much higher.

No More 80% Dips for Bitcoin

Furthermore, Grasso argued that Bitcoin will not see its early days of price inconsistencies again. Typically, Bitcoin has had four years in a bull cycle, with one of them marked by intense price correction to retest the previous cycle’s peak.

The veteran asserted that the days of an 80% drop are over for Bitcoin. He based this sentiment on the maturing crypto market fueled by institutional adoption.

 “There’s [sic] too many people that are looking for the asset,” he added.

Interestingly, this echoes an earlier comment from staunch Bitcoin advocate Michael Saylor. He noted that the days of a Bitcoin bear market are long gone, and Bitcoin will not record a major correction until it gets to $1 million.