Bitcoin's recent price decline has created a contrast between traders, who believe another plunge is imminent, and long-term investors, who remain bullish on the cryptocurrency's future. David Siemer, CEO of Wave Digital Assets, predicts a potential price of $200,000 this year and even $1 million in the long term. Siemer also highlighted the positive steps being taken by several jurisdictions, such as the US, Russia, Singapore, and Japan, in favor of cryptocurrencies. The success of US spot bitcoin exchange-traded funds (ETFs) has forced global financial institutions to compete through the development of new products. Siemer also mentioned the likelihood of new strategic bitcoin reserves in various countries, including talks with several US states. Siemer believes the US government has slightly better than 50-50 odds of creating a reserve, given its current holdings of nearly $19 billion worth of bitcoin.



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