From zero to a million: The most daring forecasts for the Bitcoin exchange rate

by Moriah | 28 Oct, 15:07
From zero to a million: The most daring forecasts for the Bitcoin exchange rate

The most daring forecasts for the Bitcoin exchange rate

The Bitcoin (BTC) exchange rate started to grow actively in price this February. Then the value of the coin first doubled to $ 6.000, and then did it again, and set a local maximum of $ 13.700. Now the first cryptocurrency is trading at around $ 9.500, but according to forecasts, it will not just update the historical maximum but will exceed it tens or even hundreds of times. Here beneath we are going to check the most optimistic opinions on the matter of Bitcoin price.

 

$ 20.000 

The historical maximum of the first cryptocurrency no longer looks like an impregnable barrier. Experts from the world of digital money have no doubt that the level of $ 20.000 will fall. All that remains is the question of when.

Founder of Galaxy Digital cryptocurrency bank Mike Novogratz is confident that the price of Bitcoin will rise to $ 20.000 as soon as investment banks enter the game. Personally, he is ready to sell Bitcoin only when the rate reaches $ 20.000 - but, according to Novogratz, this will happen no earlier than the fourth quarter of 2019. In addition, he is confident that as soon as Bitcoin reaches $ 20.000, it will start to move towards the $ 40.000 mark. OKEX Exchange Operations Director Andy Chung agrees with Novogratz: he believes that after updating the historic maximum, the rally will continue, as everything comes to the market more institutional investors. At the same time, co-founder of Kenetic Capital, a Hong Kong-based investment company, Jehan Chu, is confident that by the end of 2019, Bitcoin will reach $ 30.000 due to the fact that companies such as Fidelity, JPMorgan, and Facebook join the industry. 

 

$ 50.000 

The chief strategist of one of the leading cryptocurrency exchanges Binance, Gin Chao, believes that investors will again start to actively invest money in Bitcoin, so the price of the first cryptocurrency can rise to $ 50.000-100.000. Analyst Alex Krueger is confident that in two years Bitcoin will rise higher $ 50.000. Among the positive factors that will affect BTC growth, the specialist cited the launch of the Bakkt platform, the increased interest of retail traders and the development of crypto projects from companies such as Fidelity, Ameritrade, and ETrade. 

 

$ 100.000 

Former Goldman Sachs analyst and Adaptive Capital hedge fund director Murad Mahmudov believes that the accumulation phase is taking place on the market, which will ultimately lead to a sharp rise in the Bitcoin exchange rate. In particular, he is confident that the first cryptocurrency has every chance to go up to $ 100.000. Morgan Creek Digital co-founder Anthony Pompliano gave an even clearer forecast: in his opinion, Bitcoin will reach $ 100.000 by December 31, 2021 with a probability of 70-75%. According to Pompliano, the appreciation "will be caused by a very simple idea - the supply and demand economy remains a decisive factor in determining market value": 

"Bitcoin is an asset with limited supply and a deflationary structure. Over the next 2.5 years, demand will increase significantly, while total supply will remain limited, and new emissions will be reduced by 50% in May 2020. " 

 

$ 250.000 

Venture capitalist Tim Draper believes that in four years, the price of bitcoin will reach $ 250.000. According to the billionaire, cryptocurrency should grow in price by 1983% by the first quarter of 2023. According to the investor, in the next three years, 5% of transactions in the global market will be related to cryptocurrencies. Draper also recommends considering cryptocurrency not only as an investment but also as a tool for everyday use, for example, paying for goods or services. 

 

$ 1.000.000 

The only one who gave the craziest forecast in the industry is McAfee antivirus creator John McAfee. He believes that the value of Bitcoin will reach $ 1.000.000 by the end of 2020.

“Bitcoin is near the $ 10.000 level and people are worried. That's funny! Why are you looking at weekly fluctuations? Pay attention to the last months. It is growing rapidly. I am still confident in my forecast that BTC will be worth $ 1 million by the end of 2020, ” - McAfee wrote in his Twitter account in the summer.

This position was only indirectly supported by the head of Kraken, Jesse Powell, who did not set a time frame. Powell thinks about the $ 100.000 and $ 1.000.000 marks.

 

What's your bold opinion on Bitcoin price next year? Which forecast will come true? Share in comments and follow us on Twitter!
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written by
Moriah

Blockchain specialist and crypto advisor


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