Sylvia Jablonski, the CEO, chief investment officer, and co-founder of Defiance ETFs, believes it’s “a good time to get into Bitcoin”. Looking at the popular cryptocurrency from a completely bullish perspective, she sees BTC’s price going up to $100K. Jablonski says the short-term activity is just noise.
The executive highlighted that Bitcoin is correlated with risk and equities. Jablonski explained that when investors see Bitcoin rallying, they venture back into the top two cryptocurrencies – BTC and Ether, and some other cryptocurrencies as well. Bitcoin is hit when there are pullbacks.
In regards to Bitcoin as an inflation hedge, Jablonski shared that a couple of years ago investors assumed BTC was going to be this great inflation hedge. They thought it was going to react like gold does, and will be a “safe-haven” inflation trade. However, she said that Bitcoin is trading more like a Nasdaq 100 stock than an inflation trade.
Defiance head sees that in the short-term Bitcoin is going to be sideways volatility, with range-bound price action but longer term. Jablonski expects the popular cryptocurrency to be in the $100,000 camp before it dives down to zero. As such, she thinks it’s a good time to invest in digital asset. The executive pointed out that Bitcoin mirrored the Nasdaq movement – getting up from the lows of BTC. There is a tradable bottom.
But there will be short-term rallies. Jablonski believes the market has a little more to weather in terms of range-bound volatility. She gave an example of the Russia-Ukraine war, the inflation, and the US Federal Reserves raising rates. The executive said it just keeps investors holding on to their cash. This is a hard mistake as it just locks in losses.