Crypto YouTuber Lark Davis (@TheCryptoLark on Twitter) has shared his take on what may help cryptocurrency users make big profits in the crypto market. He does not believe that Bitcoin is the asset that will be the key tool here — even if it does surge to the $1 million price level as many constantly dream.
Here's what "big money makers" will be
Davis tweeted that if one had bought $100 worth of Bitcoin back in 2011, one would have earned approximately $1.5 million now. He added that even if the flagship digital currency does go up to the much-expected $1,000,000 per coin, it will still be only a 34x rise.
Much bigger profits, he tweeted, are likely to be made on altcoins; it will be altcoins that will become "the big money makers." He rushed to add that these investments are risky.
"Bitcoin either going to zero or a million"
In an earlier tweet, the popular crypto YouTuber stated sarcastically that BTC is either going to hit zero or skyrocket to a million USD. These polar opposite views are often expressed by Bitcoin haters, like Nouriel Roubini or Peter Schiff, or by major Bitcoin proponents.
Many of the latter, though, have been sticking to more modest forecasts of $220,000 or $500,000.
Here's who bets on BTC hitting $1 million
Prominent Bitcoin maximalist Max Keiser believes that Bitcoin will reach $220,000, without giving any specific or even approximate dates. Author of a popular self-help book on finance and investment, "Rich Dad Poor Dad," Robert Kiyosaki — who has also been a great Bitcoin supporter over the past three years, reckons that by 2025 the leading crypto will hit $500,000. His reason is constant money printing by the Federal Reserve, which has been turning the USD into worthless paper.
The late crypto mogul John McAfee proclaimed that Bitcoin would hit $1 million by 2021-2022 before he started criticizing BTC as stone age tech in favor of altcoins and privacy coins in particular.
The most recent all-time high reached by Bitcoin was close to $69,000 in November 2021. Earlier this week, BTC reclaimed the $30,000 level for the first time in the past 10 months. At the moment, it is changing hands at $30,233, trading 56.07% below the ATH price.
Recently, former Coinbase CTO Balaji Srinivasan made an astounding bet that BTC would hit $1,000,000 within the coming ninety days. He also bet $1,000,000 on that, meaning that if he loses the bet, he would have to part with this hefty amount of cash.