Jordan Belfort predicts that Bitcoin will hit $100,000, while Bobby Lee predicts $300,000


The price of the world's number one cryptocurrency can reach $300,000 per coin, says the former head of the BTCC cryptocurrency exchange, Bobby Lee. He did not clarify what period of time this figure is achievable, but he did note that the cryptocurrency can cross the $100,000 mark per coin this summer. According to the former head of the exchange, the bull cycle for bitcoin occurs every 4 years and now the cryptocurrency is just inside such a rise, which is characterized by its impressive scale. However, Lee believes that the "bubble" will burst sooner or later. This can happen after reaching the mark of $300,000 per coin, which is unlikely to happen earlier than in five years. Nevertheless, the former CEO warns that the value of bitcoin may fall by 80-90%. But this is obvious to anyone who knows at least a little about cryptocurrencies. We have repeatedly said that cryptocurrencies are not confirmed by anything, and in general, they are just useless pieces of code. Their value is determined only by the market's belief in them. But they don't have their own value, like gold, for example. Thus, in theory, the value of "digital gold" can drop even to zero. But so far, bitcoin is growing (in the medium term) due to the influx of institutions. Therefore, you can still make good money on this upward movement. The main thing is to remember that trading bitcoin or any other cryptocurrency without a Stop Loss is deadly.

Jordan Belfort, the former head of the now-defunct stock exchange, also expressed his opinion. He admitted that he had previously taken the wrong position regarding bitcoin. Back in 2017, he predicted the fall of the cryptocurrency and guessed right with his forecast. Then bitcoin fell from $20,000 per coin by 80-90%. However, Belfort also believed that bitcoin will no longer be able to return to such high price levels and conquer new heights. According to the financier, the regulators should have destroyed all cryptocurrencies, since they were and are an ideal means for money laundering and terrorist financing. Also, according to Belfort, bitcoin is a "bubble," but at the same time a very attractive investment "bubble." It is due to its limited supply and strong growth at this time that it is extremely popular and has a serious consumer base. It is these factors that will allow it to eventually grow to $100,000 per coin. Earlier, Belfort has repeatedly criticized bitcoin, saying that it is dangerous for ordinary and not too well-versed in finance people. Belfort called bitcoin "the biggest scam in the world." According to him, it does not matter how much bitcoin costs, if you want to use it as a means of payment (after all, it was originally conceived for this purpose). However, its completely wild growth and unjustified current value are just proof that the cryptocurrency is not used as a means of payment. It is used for speculation. Belfort also drew attention to the fact that no matter what the total capitalization of bitcoin is, it does not matter, since the auction still involves from 2 to 10 million dollars in bitcoins, which is an absolutely minuscule part of the total number of coins. The vast majority of coins are "dead weight" on their wallets.

The material has been provided by InstaForex Company -