Emre Yumlu 
Bitcoin remains resilient despite global concerns, with the price expected to surpass $1.8 million in the next decade.
Bitcoin, despite recent price corrections and declining investor appetite due to ongoing global trade tensions, is still on track to exceed $1.8 million by 2035. This assessment was made by Joe Burnett, Director of Market Research at Unchained.
Speaking during the Chainreaction live broadcast on X, Burnett stated that Bitcoin is in a long-term bull cycle and could potentially surpass or rival gold’s $21 trillion market capitalization within the next decade.
Despite tariff uncertainty limiting risk appetite among investors, research analysts remain optimistic about Bitcoin’s long-term prospects.
“When I think about where Bitcoin will be in 10 years, there are two models I admire,” said Burnett, “One is the parallel model, which suggests that Bitcoin will be about $1.8 million in 2035.” “The other is Michael Saylor’s Bitcoin 24 model, which suggests Bitcoin will be $2.1 million by 2035.”
Burnett emphasized that both are “good base cases,” adding that Bitcoin‘s trajectory could exceed these predictions depending on broader macroeconomic factors.
Bitcoin’s Long-Term Outlook Remains Bullish
“The automobile industry is significantly more valuable than the horse and buggy industry,” said Burnett, adding that Bitcoin’s more advanced technological properties will help it surpass the $21 trillion market capitalization of gold. He continued:
“The gold market is an estimated $21 trillion market. If Bitcoin just hit $21 trillion and had Bitcoin-gold parity, Bitcoin would be $1 million per coin today.”
Since U.S. President Donald Trump’s inauguration on January 20, global markets have been under pressure due to heightened trade war fears. Hours after taking office, Trump threatened to impose sweeping import tariffs aimed at reducing the country’s trade deficit, negatively impacting both equities and cryptocurrency markets.
Bitcoin’s role as a safe-haven asset may reemerge amid ongoing trade war concerns, while physical gold and tokenized gold remain the current winners.
Tariff fears led tokenized gold trading volume to surge to a two-year high this week, topping $1 billion for the first time since the 2023 U.S. banking crisis.
Strong Hands Buy During Drawdowns
Bitcoin’s volatility is decreasing during both bear and bull markets, signaling its growing maturity as an asset class.
Burnett noted that while another 80% drawdown during future bear markets is possible, it will serve as a robust acquisition period for the “strongest” holders, adding:
“The highs bring Bitcoin attention, and the deep, dark bear markets move coins into the hands of the strongest, most convicted holders as fast as possible.”
Arthur Hayes, co-founder of BitMEX and Chief Investment Officer at Maelstrom, predicted Bitcoin could climb to $250,000 by the end of 2025 if the U.S. Federal Reserve formally enters a quantitative easing cycle.
Despite the optimistic predictions, investors remain cautious and continue “rebalancing their portfolios” but are unlikely to take on significant positions in the next 90 days before markets gain more clarity on global tariff negotiations, said Enmanuel Cardozo, market analyst at real-world asset tokenization platform Brickken.
“With money flowing out of Bitcoin ETFs, investors are looking for safer spots to hold their cash right now, including strong currencies. Gold’s a traditional vehicle in these cases and a go-to when markets are uncertain,” he added.
Since the beginning of 2025, gold prices have risen over 23%, outperforming Bitcoin, which has fallen by more than 10% year-to-date, according to TradingView data.
This content does not constitute investment advice. Markets carry high risk, and it is important to conduct your own research before making investment decisions.
Also, you can freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram ,YouTube and Twitter channels for the latest news and updates.