2 years ago
Bitcoin (BTC) is connected way to deed a monolithic $2 cardinal wrong six years, plus absorption guru Lawrence “Larry” Lepard believes.
In his latest quality connected the Quoth the Raven podcast Oct. 16, Lepard said that BTC/USD could “easily” present 100X returns from existent prices.
Lepard: "I personally judge Bitcoin's going to spell up 100X"
With Bitcoin successful a downtrend for astir a year, bullish BTC terms predictions are fewer and acold between.
Lepard, already known for his optimism connected some Bitcoin and precious metals, has go 1 of the lone voices forecasting a seven-figure BTC terms tag successful the existent environment.
In his podcast appearance, the Equity Management Associates laminitis revealed that helium is inactive dollar outgo averaging into BTC — buying a fixed magnitude each week, careless of the price.
He besides views it arsenic a “risk” not to ain BTC arsenic a hedge successful what helium calls a “sovereign indebtedness crisis.”
“I’m not suggesting anyone should instrumentality each of their wealth and dump it into these things, but what I americium suggesting precise powerfully is that anyone who doesn’t person immoderate presumption successful these things is taking much hazard than they request to instrumentality due to the fact that of the upside optionality,” helium explained.
“Bitcoin could spell to zero but I personally judge Bitcoin’s going to spell up 100X.”Asked whether helium truthful agreed that a azygous bitcoin could extremity up being worthy $2 cardinal — 1 100 times much than the existent spot terms — Lepard did not hesitate.
“Yeah, easily, easily,” helium replied, mounting the timeframe for the gains to materialize arsenic 5 oregon six years.
Lepard added that the adjacent macro apical for BTC/USD should beryllium up to $200,000, followed by different 70% drawdown.
That prediction is astir successful enactment with another terms basis emerging successful caller days, putting the adjacent cycle’s carnivore marketplace bottommost astatine $35,000.
BTC/USD traded astatine astir $19,600 astatine the clip of writing, information from Cointelegraph Markets Pro and TradingView showed, having deed one-week highs connected the day
BTC/USD 1-hour candle illustration (Bitstamp). Source: TradingView$14,000 reinforced arsenic bargain zone
Lofty perspectives connected BTC terms show are historically thing caller to the space, but fewer person ended up coming true.
Related: ‘Get ready’ for BTC volatility — 5 things to cognize successful Bitcoin this week
Among those yet to beryllium vindicated are serial capitalist Tim Draper, who adjacent precocious remained confident astir Bitcoin reaching $250,000 successful 2022 oregon aboriginal 2023.
In April, Cathie Wood, CEO of ARK Investment Management, doubled down connected a $1 cardinal BTC target.
Prior to that, meanwhile, Tom Lee, co-founder of Fundstrat Global Advisors, maintained the firm's $200,000 BTC terms people contempt the carnivore marketplace already knocking.
Closer to home, meanwhile, $14,000 has go a fashionable downside target, 1 which Lepard himself shares.
He said that helium would "back up the truck" should BTC/USD scope that level.
The views and opinions expressed present are solely those of the writer and bash not needfully bespeak the views of Cointelegraph.com. Every concern and trading determination involves risk, you should behaviour your ain probe erstwhile making a decision.
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