Volmex CEO Sees Bitcoin Soaring to $500,000 by 2028
Volmex Labs CEO Cole Kennelly predicts Bitcoin will reach $500,000 in roughly two years. This projection implies a 540% increase from its current price of around $84,269.
Kennelly's company focuses on market volatility indexes rather than price predictions. Volmex operates the Bitcoin Volmex Implied Volatility Index and BVIV-US, which track anticipated volatility based on market activity and options tied to BlackRock's iShares Bitcoin Trust respectively.
This forecast is not the only one of its kind; Standard Chartered previously estimated that Bitcoin could reach $500,000 by 2028 but adjusted its timeline to 2030. ARK Invest CEO Cathie Wood stated in 2021 that Bitcoin's price could multiply tenfold in five years, while Mike Novogratz and Robert Kiyosaki also made comparable assertions.
Despite these statements, market shifts sometimes delay or challenge long-term predictions. Institutional demand continues to play a major role in the cryptocurrency market, with large allocators maintaining significant exposure to Bitcoin during broad market corrections. Recent data suggests that institutional investors remain active during drawdowns and may shape demand over time.