The current price of BTC is close to the level where Lepard will “return the truck”, with the asset manager expecting 100x profit.
Bitcoin
BTC
to mark
$20,117
is on track to hit a whopping $2 million within six years, according to asset-management guru Lawrence “Larry” Lepard.
In his last appearance on the Quoth the Raven podcast on October 16, Lepard said that BTC/USD could generate “easy” returns 100 times higher than current prices.
Lepard: “I personally think Bitcoin will increase 100 times”
With Bitcoin in a downtrend for nearly a year, bullish BTC price predictions are few and far between.
Lepard, already known for his bullishness on Bitcoin and precious metals, has become one of the only voices predicting a seven-figure BTC price in the current environment.
In his appearance on the podcast, the founder of Equity Management Associates revealed that he is still dollar cost averaging in BTC, buying a fixed amount every week, regardless of price.
He also sees it as a “risk” not to hold BTC as a hedge in what he calls a “sovereign debt crisis”.
“I’m not suggesting that anyone should take all their money and pour it into these things, but what I’m strongly suggesting is that anyone who doesn’t have a position in these things is taking more risk than they should because of the upside,” he said. explains:
“Bitcoin could go to zero, but I personally think Bitcoin will go 100x.”
When asked if he therefore agrees that a single Bitcoin will eventually be worth $2 million, 100 times more than the current spot price, Lepard did not hesitate.
“Yes, easy, easy,” he replied, setting the time frame for the gains to materialize in five or six years.
Lepard added that the next macro cap for BTC/USD should be up to $200,000, followed by another 70% cut.
This forecast is roughly in line with another price base that has emerged in recent days, which puts the next cycle’s bear market at $35,000.
BTC/USD was trading at around $19,600 at the time of writing, data from Cointelegraph Markets Pro and TradingView showed, after hitting one-week highs on the day.
BTC/USD 1-hour candlestick (bit stamp). Source: TradingView
$14,000 reinforced as a purchase zone
Historically high prospects for BTC price performance are nothing new in the space, but few have come true.
Related: ‘Preparing’ for BTC Volatility: 5 Things to Know in Bitcoin This Week
Among those who have yet to be justified is serial investor Tim Draper, who even recently was confident that Bitcoin would hit $250,000 in 2022 or early 2023.
In April, Cathie Wood, CEO of ARK Investment Management, doubled her BTC goal of $1 million.
Meanwhile, earlier, Tom Lee, co-founder of Fundstrat Global Advisors, is holding on to the company’s $200,000 BTC price target despite the bear market already hitting.
Closer to home, meanwhile, $14,000 has become a popular downside target, one shared by Lepard himself.
He said he would “return the truck” if BTC/USD reached that level.
The views and opinions expressed herein are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should do your own research when making a decision.
