Bitcoin (BTC) is on observe to hit a large $2 million inside six years, asset administration guru Lawrence “Larry” Lepard believes.
In his newest look on the Quoth the Raven podcast Oct. 16, Lepard mentioned that BTC/USD might “simply” ship 100X returns from present costs.
Lepard: “I personally imagine Bitcoin’s going to go up 100X”
With Bitcoin in a downtrend for nearly a 12 months, bullish BTC value predictions are few and much between.
Lepard, already recognized for his optimism on each Bitcoin and valuable metals, has turn into one of many lone voices forecasting a seven-figure BTC price ticket within the present atmosphere.
In his podcast look, the Fairness Administration Associates founder revealed that he’s nonetheless greenback value averaging into BTC — shopping for a hard and fast quantity each week, whatever the value.
He additionally views it as a “danger” to not personal BTC as a hedge in what he calls a “sovereign debt disaster.”
“I’m not suggesting anybody ought to take all of their cash and dump it into this stuff, however what I’m suggesting very strongly is that anybody who doesn’t have some place in this stuff is taking extra danger than they should take due to the upside optionality,” he defined.
“Bitcoin might go to zero however I personally imagine Bitcoin’s going to go up 100X.”
Requested whether or not he subsequently agreed {that a} single bitcoin might find yourself being value $2 million — 100 instances greater than the present spot value — Lepard didn’t hesitate.
“Yeah, simply, simply,” he replied, setting the timeframe for the positive factors to materialize as 5 – 6 years.
Lepard added that the following macro high for BTC/USD ought to be as much as $200,000, adopted by one other 70% drawdown.
That prediction is roughly consistent with one other value foundation rising in current days, placing the following cycle’s bear market backside at $35,000.
BTC/USD traded at round $19,600 on the time of writing, information from Cointelegraph Markets Professional and TradingView confirmed, having hit one-week highs on the day
$14,000 bolstered as purchase zone
Lofty views on BTC value efficiency are traditionally nothing new to the area, however few have ended up coming true.
Associated: ‘Prepare’ for BTC volatility — 5 issues to know in Bitcoin this week
Amongst these but to be vindicated are serial investor Tim Draper, who even just lately remained assured about Bitcoin reaching $250,000 in 2022 or early 2023.
In April, Cathie Wooden, CEO of ARK Funding Administration, doubled down on a $1 million BTC goal.
Previous to that, in the meantime, Tom Lee, co-founder of Fundstrat World Advisors, maintained the agency’s $200,000 BTC value goal regardless of the bear market already knocking.
Nearer to house, in the meantime, $14,000 has turn into a well-liked draw back goal, one which Lepard himself shares.
He mentioned that he would “again up the truck” ought to BTC/USD attain that stage.
The views and opinions expressed listed here are solely these of the writer and don’t essentially replicate the views of Cointelegraph.com. Each funding and buying and selling transfer entails danger, you need to conduct your personal analysis when making a choice.
