What a year – a global pandemic, a wavering stock market, rising numbers of unemployed people and continued uncertainty in global markets. Yet, we saw the bitcoin price recover from $5,300 in March to almost $18,000 at time of writing. That’s almost a 240% return within nine months.
For regular investors, the burning question is whether bitcoin is becoming overpriced. Is it too late to buy bitcoin?
Hong Fang is the CEO at OKCoin, a U.S. licensed, fiat-focused cryptocurrency exchange headquartered in San Francisco. Hong spent eight years at Goldman Sachs, leaving as VP of Investment Banking. She is a graduate of Peking University in Beijing, China, and has an MBA from the University of Chicago’s Booth School of Business.
If we put aside short-term volatility and take a long-term perspective, there is a reasonable path for the price of bitcoin to reach over $500,000 in the next decade. To go