Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
James Lavish, former hedge fund manager and CFA, has outlined the potential for Bitcoin's future value in his new post. And it is, according to his prediction, mind-boggling.
According to the expert, with global investable assets of around $900 trillion, BTC currently represents just 0.15% of that amount at a price of $67,000. If Bitcoin made up 1% of the global investment market, its value could soar to $428,000 per coin. Thus, Lavish's forecast implies a staggering 548% increase from the current price.
Tomiwabold OlajideWell, in the meantime, the Bitcoin price recently encountered resistance around the $70,000 mark before falling to around $66,000. This recent drop resulted in a 5.6% decline in less than 48 hours.
The ambitious target proposed by the expert may seem far-fetched, but it is gaining some credibility thanks to the growing participation of large financial institutions, such as BlackRock and Franklin Templeton, in Bitcoin ETFs.
Gamza KhanzadaevThe increased participation of the largest of the financial institutions is indicative of growing interest from both retail and whale investors, potentially pushing the value of BTC higher.
Such significant growth, however, will definitely not happen in a flash and will require no small amount of time and patience. In any case, this is exactly what the historical trends on the crypto market testify to.
Alex Dovbnya
Vladislav Sopov
Dan Burgin