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Equity Management Associates Founder, Lawrence Lepard, believes that Bitcoin’s price will skyrocket in the near future, and here’s why.
Currently, a small percentage of people understand and invest in Bitcoin. Lepard, estimates this group to be about 10% of the developed world. As with the internet and cell phones, which initially faced resistance due to being seen as clunky and expensive, Bitcoin is also facing skepticism and pushback.
Some people are still hesitant towards buying Bitcoin at its current price, believing that they missed the opportunity when it was cheaper. However, Lepard actually sees that Bitcoin’s current price is a bargain compared to how much it will be worth in the future. He believes that Bitcoin will become so widely adopted that its value significantly increases, much like how cell phones became widely used and affordable over time.
Meanwhile, an article on CoinDesk states that choppiness is likely to persist despite Bitcoin rebounding toward 60,000 dollars.
Markus Thielen from 10x Research suggests that while Bitcoin may climb to 60,000 dollars, this rise will be temporary due to technical damage. He predicts another decline to the low 50,000 dollars range, creating a challenging trading environment.
Also, K33 Research estimates that between 75,000 to 118,000 BTC, worth 4.3 billion dollars to 6.8 billion dollars, will be sold during the summer. This selling pressure is expected to impact Bitcoin's performance until October, leading to choppy market conditions.
With that being said, let’s hear more from Lawrence Lepard’s interview.
Credits: To watch the full interview highlighted in the video (and subscribe to a great crypto resource!) Check out Kitco News:
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The Crash Is Nearly Over! Bitcoin Going To MultiMillions Per Coin" - Larry Lepard
