ealistic Bitcoin Price Predictions
Bitcoin is the first cryptocurrency ever created, sparking the birth of an entire industry. Realistic Bitcoin Price Predictions
Bitcoin was designed to disrupt and replace paper-based fiat currencies to become the global digital currency used by the entire population, no matter what country you are in or what region you live in. Realistic Bitcoin Price Predictions
Because Bitcoin is so powerful and has so much potential, the expected value and growth of Bitcoin could be astronomical. Speculation from crypto analysts and industry experts suggests that the long-term value of Bitcoin could reach more than $ 100,000 to $ 1 million per BTC in the future. Realistic Bitcoin Price Predictions
But when will Bitcoin reach those prices? This blog is the guide to BTC price prediction that will help investors answer questions like “How much will Bitcoin go up?” and also “How much will be the cost of Bitcoin in 10 years?”
What is Bitcoin?
Bitcoin is a decentralized digital currency that you can buy, sell, and trade directly with the dealer without an intermediary such as a bank. The creator of Bitcoin, Satoshi Nakamoto, originally described the need for an “electronic payment system based on cryptographic evidence rather than trust.”
Each and every Bitcoin transaction that is ever made exists in a public ledger. That ledger is accessible to all, making transactions difficult to reverse and difficult to counterfeit. This is by design: At the core of their decentralized nature, Bitcoins are not backed by the government or any issuing institution, and there is nothing that guarantees their value more than evidence stored at the heart of the system.
“The reason the money is worth is simply that we as human beings decided it had value, like gold,” said Anton Mozgovoy, co-founder and CEO of digital financial services company Holyhead.
The value of Bitcoin has increased dramatically since its public launch in 2009. Although the coin was once sold for less than $ 150, a Bitcoin will now sell for almost $ 50,000 as of March 1, 2021. With a supply limited to 21 million coins, many expect the price to continue to rise with time, especially as larger institutional investors start treating it as a kind of digital gold to hold against market volatility and inflation.
Following are some of the most exciting predictions from Bitcoin’s most legendary evangelists.
Shervin Pishevar – $100,000 (by 2022)
Shervin Pishevar is a venture capitalist and angel investor who co-founded Hyperloop One and Sherpa Capital. He has also invested in various companies, including big names like Airbnb and Uber.
Pishvar has asked via Twitter that Bitcoin should reach $ 100,000 by the end of 2021. The prediction came shortly after a December 2020 meeting with MicroStrategy CEO Michael Saylor, whose company invested over a billion dollars in Bitcoin in 2020. Realistic Bitcoin Price Predictions
Thomas Fitzpatrick – $318,000 (by 2022)
Citibank’s Thomas Fitzpatrick is the global director of its market research product, CitiFX Technicals. He made headlines with his Bitcoin forecast of $ 318,000 for 2022, which appeared after his report leaked onto the internet in late 2020, which was between $ 20 and $ 35 before its peak in 1971. He also cited the acceleration of central banks. They have been printing money since the arrival of COVID19, which could boost the execution of Bitcoin.
Winklevoss Twins – $500,000 (by 2030)
Winklevoss Twins: Famous Bitcoin billionaires have said that Bitcoin has the potential to reach a price of $ 500,000 by 2030, which would equate its market capitalization to that of gold (around $ 9 trillion). Realistic Bitcoin Price Predictions
Tyler Winklevoss said: “Our thesis is that Bitcoin Gold is 2.0, which will alter gold, and if it does, it must have a market capitalization of 9 trillion, so we think one day it will be $US500, 000 of bitcoin. Realistic Bitcoin Price Predictions
Anthony Pompliano – $250,000 (by 2022)
Anthony Pompliano is a well-known Bitcoin personality. He is the founder and partner of Morgan Creek Digital, a cryptocurrency-compliant asset management company for institutional investors. He previously claimed that he owns more than 50% of his net worth in Bitcoin, which shows his belief in cryptocurrencies.
Pompliano had previously predicted that Bitcoin would hit $ 100,000 by the end of December 2021. Since then, he has revised the number to a cap of $ 250,000, more than double his original forecast.
Why the updated number? Pompalino believes that the available supply of Bitcoin is much lower than what most perceive, which is in contrast to the incipient demand, especially from institutions.
Among many others, Pomp also talks about the Fed’s aggressive quantitative easing and keeping interest rates low, leading to a flight to safe investments.
Chamath Palihapitiya – $1,000,000 (by 2037)
Chamath Palihapitiya is the founder of Social Capital and co-owner of the Golden State Warriors. His bitcoin journey began with an investment in 2012, and by 2013 he had added bitcoin to his hedge fund, general fund, and personal accounts. At one point, he owned 5% of all bitcoins in circulation.
Palihapitiya has predicted that the price of Bitcoin will reach $ 100,000 in the next 34 years, adding that it will reach $ 1 million by 2037. He said: “This has the potential to be comparable to the value of gold … It is a hedge. fantastic and a store of value against autocratic regimes and banking infrastructure that we know are affecting the way the world works.”
Wences Casares – $1,000,000 (by 2027)
Wences Casares is, among other things, the founder and CEO of Xapo, a Bitcoin wallet startup, and a member of the PayPal board. Casares first found interest in Bitcoin due to high financial volatility in the local currency of his home country, Argentina, the peso. The tech giant bought its first bitcoins in 2011. Realistic Bitcoin Price Predictions
Casares believes that Bitcoin will hit $ 1 million sometime before 2027, he said at the 2017 Consensus Conference in New York. Even better, he believes that Bitcoin could reach $ 1 million in just 5 years, and said on May 23, 2017, that the milestone will be reached “in 510 years.” Realistic Bitcoin Price Predictions
John Pfeffer – $700,000 (no date)
John Pfeffer is a partner in the London family office Pfeffer Capital. He has set himself a bold target price of $ 700,000 for Bitcoin, roughly 175 times the current Bitcoin price of nearly $ 4,000. Pfeffer said that Bitcoin is the world’s first viable replacement for gold. Realistic Bitcoin Price Predictions
The math of your goal works like this: First, it assumes that Bitcoin can replace all the gold currently owned by retail investors, that is, the gold bars that people keep in lockers or buried in their backyard (simply as a possibility of depositing your money in something more reliable than paper). He says that “Bitcoin is much easier to store and protect.” Realistic Bitcoin Price Predictions Realistic Bitcoin Price Predictions
Next, the present value of all privately owned gold bars is approximately $ 1.6 trillion. Assuming there will be 18 million bitcoins in circulation by the time the cryptocurrency completely replaces the gold bars, the implied value of one bitcoin would be $ 90,000. This is Pfeffer’s most conservative scenario and there is an 8% chance that he will carry it out. Realistic Bitcoin Price Predictions
Jeremy Liew – $500,000 (by 2030)
Jeremy Liew is a partner at Lightspeed Venture Partners, known as the first investor in the social media app Snapchat. Liew’s other investments include multimedia company Beme, listing service VarageSale, and hardware wallet LedgerX. His net worth is estimated at more than $ 2 billion.
In an exchange with Business Insider in May 2017, Liew said that the price of Bitcoin could “realistically” reach $ 500,000 by 2030 in the Bitcoin Wallet.
Mark Yusko – $400,000 (no date)
Mark Yusko is the billionaire investor and founder of Morgan Creek Capital. His prediction for Bitcoin is that it will be valued at more than $ 400,000 in the long run, a statement that made headlines due to its grandiose proportions. Realistic Bitcoin Price Predictions
“It’s just math. It’s a gold equivalent … there are around 20 million bitcoins available today. Gold costs around $ 8 trillion today. That brings you $ 400,000. And that doesn’t include coin-related use cases, ”Yusko said. Realistic Bitcoin Price Predictions
He also pointed out that the asset terrifies the hearts of bankers precisely because Bitcoin eliminates the need for banks. When transactions are verified on a blockchain, banks become obsolete. Realistic Bitcoin Price Predictions
Roger Ver – $250,000 (no date)
Roger Ver is an early investor in Bitcoin and blockchain-related startups. Born in the United States and now a citizen of Saint Kitts and Nevis, Ver began his business career at a computer parts store, MemoryDealers.com. Ver had started investing in Bitcoin in early 2011, now with a portfolio that includes startups like Bitinstant, Ripple, Blockchain, Bitpay, and Kraken. Realistic Bitcoin Price Predictions
In an interview with Jeff Berwick for The Dollar Vigilante blog in October 2015, Roger Ver said that Bitcoin “could very easily be worth $ 2,500 or $ 25,000 per bitcoin or even $ 250,000 per bitcoin.” Verse Estimate is based on the principles of supply and demand, which he believes create great potential for Bitcoin as a store of value. Realistic Bitcoin Price Predictions
Kay Van-Petersen – $100,000 (by 2027)
Kay VanPetersen is an analyst at Saxo Bank, a Danish investment bank that specializes in online trading and investing. VanPetersen, based in Singapore with a master’s degree in applied economics and finance from Copenhagen Business School, is an active Twitter user who isn’t afraid to speculate on tough topics like crypto prices. Realistic Bitcoin Price Predictions
VanPetersen believes that Bitcoin will skyrocket to $ 100,000 per unit by 2027, according to a feature published by CNBC News in May 2017. Perhaps a bit optimistic, it suggests that Bitcoin would account for 10% of volume in the currency market.