U.Today – James Lavish, a former hedge fund manager and certified financial analyst, has outlined the potential for future value in his new role. And it is, according to his prediction, mind-blowing.
According to the expert, with global investable assets of around $900 trillion, BTC currently accounts for just 0.15% of that amount at a price of $67,000. If Bitcoin were to make up 1% of the global investment market, its value could skyrocket to $428,000 per coin. Therefore, Lavish’s forecast implies a staggering 548% increase from the current price.
Meanwhile, Bitcoin price recently found resistance around $70,000 before falling to around $66,000. This recent drop resulted in a 5.6% drop in less than 48 hours.
The ambitious goal proposed by the expert may seem far-fetched, but it is gaining some credibility thanks to the growing involvement of large financial institutions, such as BlackRock (NYSE:) and Franklin Templeton, in Bitcoin ETFs.
Increased participation from larger financial institutions is indicative of growing interest from both retail investors and whales, which would potentially drive the value of BTC higher.
However, such significant growth will not happen overnight and will require a great deal of time and patience. In any case, this is exactly what historical trends in the cryptocurrency market attest to.
This article was originally published on U.Today
