Since Bitcoin breached the $20,000 mark before plummeting, crypto investors the world over have been trying their luck at predicting when we’ll see the world’s biggest cryptocurrency reach a new all-time high.
Alistair Milne, chief investment officer at Digital Currency Fund, recently tried his hand at the prediction game, stating that Bitcoin used to be an “asymmetric investment opportunity.”
Still Bullish 1/6:— Alistair Milne (@alistairmilne) January 19, 2019
As early Bitcoin investors, we used to speculate about how it was an 'asymmetric investment opportunity' ... i.e. you could lose 80% OR make several multiples on your investment
Milne explains that “the asymmetric opportunity is absolutely explicit” due to increased regulatory certainty and the fact that Bitcoin has fallen around 80% from its all-time high. Milne went further to say that “Bitcoin may drop and/or eventually retest its ATH… at a minimum.”
He explained that “each wave of adoption is an order of magnitude bigger than the last.” Therefore, with the increased number of consumers and the ever increasing “price predictions of HODL’ers,” Bitcoin will climb past $20,000. Furthermore, with Bitcoin now reaching mainstream awareness, the FOMO will be “larger than ever.”
As a self-confessed altcoin skeptic, Milne explains that investors are aware that Bitcoin is like trading Gold with 100x leverage, “and, next year, Bitcoin’s inflation/production rate will actually be lower than Gold’s.”
“No-one appears to doubt the usefulness of Gold as an investment, they shouldn’t doubt Gold 2.0.”