In a recent episode of Cointelegraph’s Chainreaction live show, Burnett expressed his confidence that Bitcoin continues its bullish long-term trend. He even suggested that Bitcoin could potentially compete with, or even surpass, gold’s $21 trillion market capitalization in the coming decade.

Trade uncertainties have dampened risk appetite among investors, but Bitcoin’s long-term prospects remain positive, according to research analysts. Burnett presented two models he respects when forecasting Bitcoin’s future. The first suggests Bitcoin will reach about $1.8 million by 2035, while the second, Michael Saylor’s Bitcoin 24 model, predicts Bitcoin could hit $2.1 million by 2035.

Burnett emphasized that these predictions are “solid base cases” but added that Bitcoin’s trajectory could exceed these estimates based on broader macroeconomic factors.

The market researcher drew a comparison between the automobile industry and the horse and buggy industry, suggesting that Bitcoin’s advanced technological features could propel it past the $21 trillion market capitalization of gold.

Global markets have been under pressure since President Trump’s inauguration, particularly due to the threat of imposing hefty import tariffs. These trade war fears have caused a surge in tokenized gold trading volume, hitting a two-year high this week.

Burnett suggests that Bitcoin’s volatility is decreasing, indicating its maturing as an asset class. While another 80% drawdown during future bear markets is possible, this will function as a strong acquisition period for the most committed holders.

Despite these optimistic projections, investors are being cautious and continue to adjust their portfolios. They are unlikely to take on significant positions in the next 90 days before markets receive more information on global tariff negotiations.

Since the start of 2025, gold has outperformed Bitcoin, with its price rising over 23%. Bitcoin, on the other hand, has declined by more than 10% year-to-date, according to TradingView data.

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