Frank Holmes, CEO and CIO at US Global Investors, believes that Bitcoin and Ether could peak at $ 80,000 and $ 3,000 this year, respectively. In his opinion, the fall in the value of Bitcoin to USD 20,000, and Ether to USD 500, is also real.
Frank Holmes: Bitcoin at $ 80,000
Holmes believes that each asset class has its own code “DNA of variation”. In this way, it determines the percentage of price fluctuations in a given period, typical for a given item. He finds it especially intriguing when two different assets have a similar volatility. In this interview with Cointelegraph He pointed out, for example, that Tesla’s DNA variation is the same as Etheru’s.
But why do two seemingly unrelated assets share similar DNA of variation? Holmes believes that a higher range of volatility means “Destructive asset ratio”. What is going on? For example, Tesla is revolutionizing the car industry, while cryptocurrencies disrupt the global financial sector. While these assets exist in completely different industries, both are drivers of change, which creates similar uncertainty and price volatility.
Future BTC price
The cryptocurrency market is famous for Bitcoin’s price forecasts. Some, such as Dan Held, even believe that Bitcoin could reach up to $ 1 million per coin.
– I heard that’s what will lead [BTC] for the price [na poziomie] $ 400,000 is a fact that will become an art. It will be classified as a collector’s item Said Holmes.
Looking 3-4 years ahead, the expert predicts that Bitcoin will continue to be very valuable. Even if it does not become sovereign digital money. He compares owning Bitcoin to owning an original work by Andy Warhol.
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