Can Bitcoin make you RICH??
Bitcoin can only increase by 6x from now from $42,000 to $250,000, because the maximum multiple per bull run has only been 100x from bottom to top and markets get less volatile the more they mature, so this time would probably only 50x from $3,100 to $160,000, maybe with some luck a 80x with institutional FOMO to $250,000.
This is a terrible return for crypto and it will take until late 2021 for you to make that return.
That means if you invest $10,000 in Bitcoin, it will only be worth $60,000 later this year at most. After taxes that is $35,000, so the actual return for Bitcoin is only a 3.5x. That’s a terrible return for such a volatile and risky asset and it can definitely not make you rich.
Even if you are already rich and have $100,000 play money available and invest that into Bitcoin, it would only make you $350,000.
Right now, Ethereum is at $1,221. 2 months ago I said Ethereum will surely go to $20,000 and maybe to $40,000.
That would be a 16x return and a 32x at max. Can that make you rich?
If you invest $10,000 into Ethereum, it would be worth $160,000 later this year and $320,000 at most. Is that rich? Not really.
If you invest $50,000 into Ethereum, it would be worth $800,000 later this year and $1.6M at most.
Can you become rich with investing in Bitcoin? No, that time is over.
You could only become rich with Bitcoin if you invested back when it was worth $10,000 and you invested $10,000 into it. Even that will only make you semi-rich.
You could still become somewhat rich with Ethereum if you invest $20,000 now, which would return $320,000 to $640,000 at most later this year, but that’s it.
That all being said, you still should hold 30% of Bitcoin in your portfolio, because it gives you more stability and flexibility, but Bitcoin will not give you large multiples anymore.
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