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Could Bitcoin reach $ 10 million in 2023?
According to a Bitcoin the graph that has been circulating on the internet in recent days shows that Bitcoin could reach $ 10 million in 2023.
According to an infographic on Bitcoin Halving to Price loaded on Reddit, after halving the premiums received by miners, the price of the famous virtual currency has increased exponentially.
In 2020, Bitcoin will experience a new halving. Miners will receive 6.5 BTCs compared to the current 12 BTCs that each block offers as a reward. With an increase in demand for the famous virtual currency and a lower supply, the price could skyrocket and reach $ 1 million dollars around 2021.
This price forecast is very similar to that made by the controversial and cryptographic expert, John McAfee. He said that by 2021, Bitcoin would be worth $ 1 million dollars.
The interesting thing is that the graphics do not end there. In 2023, the price of the famous digital currency could reach a massive and unexpected amount of $ 10 million. But … is it a realistic prediction?
Realistic prediction or total bull
As explained by the user Reddit Grengrad, Bitcoin would be equal to the value of all activities on earth with a price of $ 11,000,000 dollars per currency, which is not a plausible or possible result in the short and medium term.
According to the chart, the price of Bitcoin should be close to $ 30,000 dollars in mid-2020, when the next halving will occur.
Other experts like Tom Lee believe that in the near future Bitcoin could experience a new bull run. In September 2017, Bitcoin rose from $ 3,000 to $ 20,000 in December 2017. Since then, the price has plummeted by over 65%. Some alt coins recorded losses of almost 90% greater than their absolute high in January 2018.
In addition, other figures of cryptocurrency think that the price will follow the hash rate, which has been increasing for 9 years without stopping. Max Keizer, for example, is a great supporter of this theory. According to information provided by blockchain.com, Bitcoin recorded a new record of hash rates on August 8, when the network reached 52 TH / s.
The price follows the hashrate and the hashrate chart continues its bull market to 9 years. #Bitcoin pic.twitter.com/Rh49V9gaJw
– Max Keizer (@maxkeiser) August 8, 2018
At the moment, Bitcoin has recorded a 2.48% increase in the last 24 hours and is priced at $ 6500 dollars per currency. At the same time, the market capitalization of the dominant currency is now $ 113 billion.
Most virtual currencies are now operating positively after weeks when their prices were falling a lot in terms of Bitcoin and Fiat.
Until now, it is unclear whether Bitcoin will be able to reach such an important price level in 2013, but one thing is clear, cryptocurrencies are growing and expanding all over the world. If this happens, then, the price will follow, sooner or later.
Infographic on Bitcoin halved compared to the price of Bitcoin
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