U.Today – Former hedge fund manager and CFA James Lavish outlines the potential for ‘s future value in a novel post. And it’s, according to his predictions, mind-blowing.
According to the expert, with global investment assets at around $900 trillion, BTC currently accounts for just 0.15% of that at a price of $67,000. If Bitcoin were to account for 1% of the global investment market, its value could soar to $428,000 per coin. So Lavish’s prediction represents a staggering 548% raise from its current price.
Well, in the meantime, Bitcoin price recently hit resistance near $70,000 before falling to around $66,000. This latest drop resulted in a 5.6% drop in less than 48 hours.
The ambitious goal proposed by the expert may seem improbable, but it is gaining credibility thanks to the growing participation of enormous financial institutions such as BlackRock (NYSE:) and Franklin Templeton in bitcoin-based ETFs.
The growing participation of major financial institutions indicates growing interest from retail and whale investors, which could potentially raise the value of BTC.
Such a significant raise will certainly not happen in the blink of an eye and will require a lot of time and patience. In any case, this is what historical trends in the cryptocurrency market indicate.
