Bitcoin price: Maintain the upward momentum
Early this morning (October 10), Bitcoin - the world's largest cryptocurrency by market value increased slightly by 0.31%, to 123,109.79 USD.
The new price contributed to bringing market capitalization to 2,453 billion USD, an increase of 35 billion USD. The increase has contributed to the price increase in the past month, Bitcoin recorded 10,430.68 USD, equivalent to 9.26%.
Assessment and forecast
Bitcoin and gold have risen to record highs this week, demonstrating two sides of "currencies devaluation" as investors seek to hedge against the weakness of major currencies.
Even traditional gold proponents are paying attention to Bitcoins growing role as digital gold.
Paul Karger, co-founder and managing partner of Twin Focus, said that "BTCTC Transactions are too big to ignore" and those who have been skeptical about Bitcoin for the past decade have been proven wrong.
Karger still prioritizes allocating about 5% of its portfolio to gold, with a smaller proportion to Bitcoin, but admits that the world's largest digital currency "has a position in a diverse portfolio".
He proposed restructuring the fixed income section in the traditional 60/40 portfolio (60% of stocks, 40% of bonds). At the same time, Mr. Paul Karger said that long-term bonds should be diversified to invest in short-term debt, real estate, digital assets, gold and broader commodities such as copper and AI infrastructure.
In Vietnam, Bitcoin and other cryptocurrencies have not been recognized as a legal payment method and are not protected by law. Investors need to be cautious, avoiding risks from strong price fluctuations and fraud related to cryptocurrency.
