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Bitcoin does not even need any introduction, almost all these days know Bitcoin. Hundreds of people have earned thousands if not millions of dollars of profit by participating in Bitcoin. Those who entered the world of cryptocurrency, in fact, made a fortune with a very small investment.
However, the astounding money investors made by investing in Bitcoin have created this illusion that by investing in Bitcoin you can become a millionaire overnight. It is essential to keep in mind that Bitcoin is not something that can make you rich overnight. People who have invested before have also waited for years before making a huge profit.
When the price of Bitcoin started to rise during 2017, most investors sold their Bitcoin to enjoy the profit. However, a valuable lesson we learned was that holding power is crucial. Those who kept it for a few more months and sold it at the beginning of 2018 made three times as much profit as those who sold it in 2017.
Pricing on prices for Bitcoin
As reported by Theoofy, Bitcoin could return to $ 6,800 after the $ 25 billion increase. 2018 was a very difficult year for Bitcoin, and the trend was mainly downward. Although there are countless speculations about Bitcoin, John Pfeffer, partner in the capital of Pfeffer, predicts that Bitcoin will grow over 75 times. He thinks that a Bitcoin will be valued at around $ 700,000 in the future.
Bitcoin (BTC) Price today – BTC / USD
This is a long-term forecast and John did not specify the time frame within which he expects this increase. Time Draper, who is a venture capitalist, predicts that a Bitcoin will be worth over $ 250,000 in three or four years. Clearly, John's prediction is a little far-fetched or a little bit. too optimistic, but Draper's prediction seems possible.
Pfeffer supports his prediction by saying he thinks Bitcoin is like gold and is the first thing that can actually replace gold. It assumes that most people will replace gold with Bitcoin because it is easier to store and the chances of it being stolen are less. After some complex calculations, the price reaches about $ 90,000 per currency.
The second factor he uses to support his prediction is that a quarter of the world's traditional currencies will be replaced by Bitcoin. The world's foreign currencies are worth over $ 12 trillion. He is optimistic that Bitcoin replaces a quarter of the entire foreign currency. And although when you think about the price of $ 700,000, it seems a little far-fetched, however, technically it is possible.
The price of Bitcoin if increased twentyfold as a result of the previous situation, exceeds the sign of $ 700,000. All these long-term forecasts also seem to be positive. John McAfee even predicts that Bitcoin will be worth over $ 1 million by 2020.
John McAfee is the same person who predicted last year that Bitcoin would exceed $ 7,000 and its predictions were completely true. In one of his tweets, McAfee said he had used the same model to predict the value of $ 1 million by 2020. Kenneth Rogoff, a former head of the IMF, predicts that Bitcoin will drop to $ 100 or less because it is a bubble that it has yet to burst.
Tom Lee, who is a head of JP Morgan, predicts that Bitcoin will exceed $ 25,000 as it sees great growth for the world of cryptocurrency. Llew Claasen predicts that Bitcoin will be valued at over $ 40,000 per bitcoin. He says there will be ups and downs and despite this Bitcoin will rise again and hopefully it will meet his expectations.
It is essential to keep in mind that Bitcoin has always surprised us and therefore you should only invest the amount of money that you can afford to lose. Being optimistic is a good thing, but a cryptocurrency investor should always be prepared for a fall.
