The chief executive of Sound Planning Group has predicted a major bitcoin price surge, stating that the crypto is priced for “a serious rally.” He identified the upcoming Bitcoin halving and the adoption of spot bitcoin exchange-traded funds (ETFs) as key factors driving his bullish prediction for the cryptocurrency’s price. The financial advisor believes that bitcoin “is a real asset class” that will have “a lot of value.”
‘Bitcoin Right Now Is Priced for a Serious Rally’
David Stryzewski, an investment advisor representative and the CEO of Sound Planning Group, explained on the Schwab Network Thursday why he believes the price of bitcoin is poised for a serious rally. Stryzewski was named the “Advisor of the Year” by the Society of National Social Security Advisors in 2016 based on his knowledge of social security, wealth management, and retirement planning.
Commenting on the price of bitcoin, he said:
I think that bitcoin right now is priced for a serious rally.
He explained that the upcoming Bitcoin halving and the newly launched spot bitcoin exchange-traded funds (ETFs) which the U.S. Securities and Exchange Commission (SEC) approved last month are the catalysts for the upward price momentum for BTC.
Stryzewski detailed that when new institutional money, which he called “big money,” starts pouring into spot bitcoin ETFs, there will be “a lot more price momentum on the upside.” He also highlighted the importance of spot bitcoin ETFs providing retail investors with greater exposure to BTC.
Underscoring his optimistic outlook on bitcoin, the investment advisor emphasized:
It is a real asset class that I believe is going to have … a lot of value here, especially as we go forward into the future.
Stryzewski also cautioned investors about directly buying bitcoin, warning of the risk of losing their entire investment if they lose their private keys. He noted that investing in spot bitcoin ETFs avoids this problem. “This is one thing that the ETF actually solves,” he said, adding that since investors are not custodying the coins themselves, they “don’t have to worry about losing them.” With bitcoin ETFs, he said, “you can sell it when you want to sell it or hold it as long as you want.”
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