This website uses cookies to ensure you get the best experience on our website
Join us on Telegram for FREE daily market updates!

Blog

Date:
12th Mar 2021
Author:
Dalmas Ngetich, for CryptoAltum News Team

Bitcoin Market Cap to Reach $10 Trillion in 5-7 years Says Fund Manager

Prakash Chand, the Managing partner of a Dubai-based crypto-focused fund managing assets worth $1 billion, FD7 Ventures, predicts the Bitcoin market cap to reach $10 trillion in the next few years. The expansion of Bitcoin will also see other potent, liquid altcoins like Ethereum, Cardano, and Polkadot roar to mega valuation. This will further lift cryptocurrencies' profile as worthy, must-have assets in any investment portfolio. At those valuations, the Bitcoin price would be trading at $570k, extending from Mar 11 spot rates.


Details: 

Chand believes Bitcoin is a store-of-value whose valuation will quickly soar 10X to over $10 trillion in less than a decade. In his view--investors disillusioned by traditional systems, especially retail investors who got burnt by Robinhood, will most likely pour their funds—including part of the $1.9 trillion stimulus checks, to Bitcoin and crypto over stocks. Further tailwinds stem from Bitcoin's baked-in deflationary feature, deep-roots, and preference from institutional investors. In recent times, spurred by favorable prognosis from Citibank and JP Morgan’s analysts, are sizing Bitcoin, ready to assign a portion of their cash reserves in the most valuable digital asset.


Impact on the BTC Price: 

Bullish. The evolution of BTC to be a store-of-value, a reliable transactional layer, and a choice digital asset for deep-pocketed investors gives it an advantage over altcoins. Though potent, Bitcoin is established, backed by the SEC as a utility, and has unparalleled liquidity.


More market news over on our Blog


Risk Disclosure: Trading cryptocurrencies or any other financial instrument involves a significant level of risk and may result in a total loss of your investment. You should consider carefully whether investing in Bitcoin or any other instrument offered by CryptoAltum is appropriate to your financial situation. CryptoAltum only accepts deposits in Cryptocurrencies. By trading with CryptoAltum you acknowledge your understanding of this risk disclosure and your agreement with the Terms and Conditions.
  • Copyright Excel Innovations Ltd (CryptoAltum) 2020