Matt Cole expects a new Bitcoin bull market within the next 18 months, driven by a weaker dollar.

  • Cole called Bitcoin's 2024 to 2025 rally "a very disappointing bull market," saying it failed to outperform gold. 
  • He said the latest downturn was mild, with a drop of about 50% rather than the 80% seen in the past cycles. 
  • ASST flashed a golden cross in early September, with its 50-day moving average moving above the 200-day.

Strive, Inc. (ASST) stock edged higher during pre-market trading on Tuesday after Chief Executive Officer Matt Cole said that Bitcoin (BTC) could reach $500,000 by the end of 2030 and that its next bull market will be "substantially better" than the 2024-2025 run. 

During an interview with What Bitcoin Did, Cole explained that “Bitcoin might be 500K by the end of 2030." That would be nearly six times Bitcoin's current price from the $86,000 level.

He added that Strive's thesis of about 50% compound annual growth would put Bitcoin back at its all-time high late next year. According to Cole, such growth would not be linear, and he further added that investors often focus too much on the short term and underestimate how returns build over time. 

Where Bitcoin Fell Short

Talking about Bitcoin’s latest rally, Cole called it "a very disappointing bull market for any Bitcoin bull." Simply put, while Bitcoin rose, it failed to outperform gold over that period. He said Bitcoin should have been the "fastest horse," meaning the best-performing asset, since it's an emerging form of money. Bitcoin bulls had to admit that the thesis did not play out, he added. 

Bitcoin’s price was up 0.2% over the past 24 hours. On Stocktwits, the retail sentiment around Bitcoin remained in the ‘neutral’ zone with chatter at ‘low’ levels over the last day.

Weaker Dollar, Milder Crashes

Cole expected Bitcoin to enter a new bull market within the next 18 months. He tied that view to the U.S. debt load. He said the government had little room to cut spending, which left a weaker dollar as the likely way out. The CEO expected the biggest decline in the dollar's value in Bitcoin's history over the next three to seven years, as measured by the U.S. Dollar Index (DXY). This also comes as the dollar hit an 18-month high on Tuesday.

However, Cole explained that “I have not called, actually, for the failure of the dollar,” he said. "What I’ve called for publicly is a massively devalued dollar."

 Cole also said the latest downturn was mild for Bitcoin, with a drop of about 50% rather than the 80% seen in past cycles. He described the current period as a "super cycle" with smaller crashes than earlier cycles. 

ASST’s Second Golden Cross

ASST stock rose over 1% in the pre-market. On Stocktwits, the retail sentiment around ASST remained in the ‘bearish’ zone, as chatter remained at ‘low’ levels over the last day.

Last month, ASST stock formed a golden cross, a bullish technical signal in which its 50-day moving average (DMA) moved above its 200-day moving average (200-DMA). 

Strive Golden Cross As 50-Day SMA Moves Above 200-Day. Source: Koyfin

Traders often treat it as a sign that momentum is turning, but it does not guarantee more gains.

ASST is up over 155% so far this year, and has lost around 41% in the last 12 months.

Read also: Bitcoin Beat The Forecast, But TD Cowen Reportedly Says The Rally May Have Further To Run

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