As we already said by now, Bitcoin has been featured in the mainstream media a lot lately, and it seems that the trend continues.
Now, author Kenneth Rapoza just dropped an interesting piece about Bitcoin in Forbes.
Bitcoin to hit $500k in the future
The author told readers that he believes that the king coin will eventually smash through $500k.
“Even with the recent decline from its highs, coming close to $20,000, investors have been bullish. Is it going to $50,000? Nope. It’s going to $500,000, some on the Street have told me (hint: she runs a big, innovative ETF),” he said.
He also notes that it took more than 1,000 days for Bitcoin to hit the ATH from back in 2017, although the king coin still has to smash through $20k.
“We are buyers at this price as we believe Bitcoin will appreciate over the short-, medium- and long-term,” says Daniel Wolfe, fund manager at the Simoleon Long Term Value Cryptocurrency Fund.
Wolfe reportedly also said that “Taking a three to five-year view and dollar-cost averaging into a position that represents around 5% of your portfolio is prudent today.”
Here’s what Forbes’ author also noted: “The next nine months will bring substantial appreciation for Bitcoin,” Wolfe thinks. “I would not be surprised to see $50,000 next summer. Within four years, we expect the capitalization of all crypto assets to grow five-fold, with Bitcoin at $100,000,” he told me last week.”
We suggest that you check out the complete piece to find out more interesting and exciting details.
Regarding Bitcoin’s price, at the moment of writing this article, the king coin is trading in the green, and it’s priced at $19,181.22.
Make sure to keep your eyes peeled on the market.