Equity Management Associates founder Lawrence Lepard believes bitcoin could be worth $2 million in the future
The main crypto coin has recently demonstrated better dynamics than fiat (with the exception of the US dollar), leading stock indices, gold and oil. From July to September, bitcoin fell only 1%, according to CoinGecko analysts. However, according to data from the beginning of this year, BTC remains an underdog, whose price has decreased by almost 60% over this period.
The capitalization of the crypto market in general has increased by 6.5%. The correlation of the digital asset industry with the S&P 500 declined insignificantly, from 0.92 to 0.85.
Meanwhile, Arcane Research analysts pointed out that various on-chain indicators are talking about reaching the bottom of the bearish phase of the crypto market. In the middle of last summer, the Pewell multiplier dropped to the levels of mid-December 2018, when the first crypto coin was worth just over $7,000.
The same signal is broadcast by the RHODL Ratio metric, whose values coincide with the levels of the beginning of 2019, the bottom of the bearish phase of the previous market period. In addition, the Reserve Risk indicator turned out to be at the lower limit for the entire history of observations. This suggests that there is little incentive for long-term investors to sell their bitcoins.
“Low Reserve Risk values indicate that coins are accumulating (hodlers hold) despite falling prices,” explained Arcane Research.
Lawrence Lepard, founder of Equity Management Associates, believes that the first digital currency is on its way to $2 million. Bitcoin can reach this level within the next 6 years, the expert is sure.
At the same time, he stressed that the path of bitcoin to a millionth value will be thorny. Its rate will skyrocket to $200,000, and then fall by 70%, and then rise again.
When asked if the entrepreneur believes that BTC could eventually be worth $2 million, that is, 100 times more than the current value, Lepard answered without hesitation: “Yes, easy, easy.”
Do you think Lawrence Lepard’s forecast is realistic?
