Future of Bitcoin and XRP: Massive Gains Predicted
Dan Morehead, founder and managing partner of Pantera Capital, recently shared a bold outlook for Bitcoin during an appearance on CNBC’s Squawk Box. Morehead noted that Bitcoin has historically doubled in price each year for the past 12 years. Based on this trend, he believes the cryptocurrency could continue climbing sharply before reaching saturation.
“So, I think it (Bitcoin) could go up to $750,000 in the next four to five years,” Morehead said.
His prediction is rooted in the current underrepresentation of Bitcoin in global wealth. As referenced by The Bitcoin Podcast host Walker, Bitcoin’s market cap at $2 trillion accounts for just 0.2% of total global assets. Morehead sees this as a sign that significant growth potential remains.
If Bitcoin were to reach $750,000, it would command a $15 trillion market cap, placing it among the most valuable assets globally—second only to gold.
What It Means for XRP
Historically, altcoins like XRP have followed Bitcoin’s market trends. According to Macroaxis data, Bitcoin and XRP have shown a 0.79 correlation coefficient over the past three months. This strong correlation suggests that if Bitcoin surges, XRP could experience a parallel rise.
Currently trading at $2.97, XRP could climb 552% to approximately $19.20 if it mirrors Bitcoin’s projected path. However, due to its higher volatility, Macroaxis indicates XRP might deliver 1.56x more returns. This scenario would imply an 861% gain, pushing XRP to a new high of $28.54.
While historical patterns offer insight, it’s important to note that these figures are speculative. Past performance is not indicative of future results, and this article does not constitute investment advice.
