International politics and the search for an investment hedge could fuel a bitcoin (BTC) surge in the coming months, even after confidence in the largest cryptocurrency was dented by a 10% weekly drop, some traders say.
"Bitcoin remains a viable doomsday asset in 2024, as its correlation to Gold recently increased, and investors continue to diversify away from traditional financial assets," Edouard Hindi, the chief investment officer at Tyr Capital, said in an email to CoinDesk.
"The ETF is currently spearheading this Doomsday rally and we should expect $120,000 to be hit in the coming months as global geopolitics continues to deteriorate and the middle classes continue to find ways to protect their wealth," Hindi said.
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