Jan 9, 2026
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Wall Street Analyst Predicts Bitcoin Price Recovery Despite Market Instability
Wall Street analyst Andrew Jeffrey maintains a bullish outlook on Bitcoin despite recent price instability. He believes Bitcoin could enter a price discovery phase, potentially challenging gold's market cap as it becomes increasingly viewed as a store of value.
- Jeffrey argues that Bitcoin's behavior reflects the nature of an immature asset with a market cap over $1.9 trillion, yet about one-third is controlled by a small group of wallets.
- This concentration can create instability during market stress, with recent retail investors, particularly those entering through ETFs, having weaker convictions and more likely to sell during downturns.
- He views the current risk-off environment as temporary, believing Bitcoin will eventually be seen as a store of value, similar to gold.
- Jeffrey does not see Bitcoin becoming a dominant payment tool, suggesting stablecoins like Circle’s USDC are better suited for transactions.
Despite short-term fluctuations, Jeffrey emphasizes Bitcoin's long-term performance as the best-performing asset over the past decade. He suggests that sustained crypto market gains are unlikely without Bitcoin leading the way.
