BlockBeats News, on June 11, according to Cointelegraph, the current price of Bitcoin is $109,601. Bitwise researchers André Dragosch and Ayush Tripathi stated that it is expected to break through $200,000 by the end of the year and eventually reach their estimated 'fair value' of $230,000.
In their weekly cryptocurrency market outlook, Dragosch and Tripathi pointed out that the soaring U.S. federal debt, mandatory spending exceeding income, coupled with Trump’s proposed 'beautiful tax plan', are key factors behind their bullish outlook on Bitcoin.
The U.S. Congressional Budget Office (CBO) predicts that by 2030, net interest expenditure will grow to $3 trillion, raising concerns in the market about a U.S. sovereign default. Bitwise analysts stated: 'The scarcity and risk-resilience of Bitcoin put it in a uniquely advantageous position amid fiscal instability and improving market sentiment.' If these trends continue, Bitcoin is expected to exceed price expectations by the end of the year.
