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An investment firm that predicted Tesla’s meteoric ascent is extremely bullish on Bitcoin and says the BTC market cap could go as high as $5 trillion.
Also in today’s show, Credible Crypto predicts the Ripple XRP price will rise 12,900% in the next Bitcoin bull cycle.
In a comprehensive report, New York-based thematic investment firm ARK Invest sees massive growth potential for Bitcoin over the next few years despite its already impressive run that has defied expectations.
“Our analysis suggests Bitcoin is early on its path to monetization, with substantial appreciation potential. In our view, Bitcoin’s $200 billion market capitalization – or network value – will scale more than an order of magnitude to the trillions during the next decade.”
Specifically, ARK Invest points out that the adoption of Bitcoin as a global settlement network, as a protection against asset seizure, as digital gold, or as a catalyst for demonetization in emerging markets has the potential to fuel the growth of the crypto asset’s market cap.
Despite their high evaluation of the crypto asset, ARK Invest points out the several risks that threaten Bitcoin’s growth potential.
For one, ARK Invest says security breaches and institutional mismanagement have cost investors millions of dollars with no legal recourse.
Other risks are regulatory uncertainty and “over-institutionalization”, which the company says could cause a monopoly in Bitcoin transactions and present an “existential risk to bitcoin’s value proposition.”
Although risks are present, ARK Invest highlights the potential of BTC to print massive gains within a decade.
“Bitcoin offers one of the most compelling risk-reward profiles among assets, as our analysis suggests it should scale from roughly $200 billion today to $1-5 trillion network capitalization during the next five to ten years. In our view, capital allocators must consider the opportunity cost that will be associated with ignoring bitcoin as a new asset class.”
In other trending Bitcoin News today:
Credible Crypto Predicts XRP Will Rise 12,900% in Next Bitcoin Bull Cycle
Closely-followed trader and crypto strategist Credible Crypto sees XRP meteorically rising by over 12,900% in the next Bitcoin boom cycle.
In a new tweet, the crypto analyst tells his 68,000 followers that Ripple’s native token has the potential to massively increase one’s net worth in the coming years.
“Keep it real. XRP price IS NOT ‘pre-determined.’ XRP IS NOT ‘backed by gold.’ XRP WILL NOT reach the prices BTC has ($10,000+). XRP will NOT replace the dollar. But it doesn’t need to do ANY of these things to make you and me life-changing money over the next 3 years.”
When asked to provide his price prediction for the fourth-largest cryptocurrency, Credible explains why he believes XRP can skyrocket between $20 – $30 before the current bull market expires.
“…it’s gone 1000x+ in the last run, this would just be 100x. Regarding sell pressure, weak hands have long sold their XRP for other projects. The ones holding now won’t sell soon.”
Not all analysts share Credible’s long-term bullish attitude towards XRP. Widely-followed veteran trader Peter Brandt told his crew of 375,000 to be cautious about investing in Ripple’s native asset.
“Don’t place your faith in XRP.”
Brand notes that Ripple’s ownership of more than half of the total supply of XRP is a potential liability.
He believes the token has more downside potential as it continues to underperform relative to other major cap coins.
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.
Show Notes / Resources:
Keep it real.$XRP price IS NOT “pre-determined.” $XRP IS NOT “backed by gold”. $XRP WILL NOT reach the prices $BTC has ($10,000+).$XRP will NOT replace the dollar.
But it doesn’t need to do ANY of these things to make you and me life changing money over the next 3 years.
— Credible Crypto (@CredibleCrypto) October 2, 2020
It won’t need as much as it seems it would. Many people think the same. But it’s gone 1000x+ in the last run, this would just be 100x. Regarding sell pressure, weak hands have long sold their $XRP for other projects. The ones holding now won’t sell soon. https://t.co/jelsS4rTdc
— Credible Crypto (@CredibleCrypto) October 2, 2020
Don’t know about the long long term, but looking for $20-$30 over the course of this next bull run (2-3 years).
— Credible Crypto (@CredibleCrypto) October 2, 2020
Credible Crypto Predicts XRP Will Rise 12,900% in Next Bitcoin Bull Cycle
https://cointelegraph.com/news/trump-price-dots-and-covid-19-5-things-to-watch-in-bitcoin-this-week