Predictions on Bitcoin prices: from zero to one million

2018 was a wild year for cryptocurrency prices, exemplified by the 2017 meteoric rise and the subsequent collapse of the grandfather Bitcoin. After reaching a maximum of $ 19,000 in December 2017, the price of Bitcoin has plummeted to around $ 4,000 since today. Since then, it has vibrated at a relatively low range while the market as a whole has made several false starts.

Legions of forecasts have been made in the course of the year regarding when – indeed, if – the price of Bitcoin will recover. The overwhelming majority of those predictions failed to bear fruit. However, the new Holy Grail is guessing the price of Bitcoin in the short and medium term, and there is no shortage of opinions on that subject.

Monitor the price in real time on Bitcoin here

One theme is clear, from relatively conservative views to fanciful and imaginative ones – few predict that Bitcoin will lose value by the end of the year. This, in and of itself, is a fairly bold prediction given the legendary volatility of the encrypted world.

We will give a brief overview of the thoughts that swirl around the cryptosphere regarding the medium-term price of Bitcoin, from the mild to the wild. We will also try to put these forecasts into context to give a more complete picture of how the market could look from December 31 and beyond.

For simplicity, we will list the forecasts from the lowest to the highest value.

If you want to see what the Ethereum & # 39; s Price experts think, look at their predictions here.

Joe Davis: $ 0

"As far as Bitcoin is concerned, the currency? I see a fair chance that its price will go to zero." – Joe Davis.

The economist believes that the price of Bitcoin is only a function of speculation. Davis's prediction is quite weightless, considering his position as head of Vanguard's investment strategy group. Davis also claims that bitcoin is a poor value, because of its volatility, and advises people to invest only in proven and true resources. This conservatism is not at all unusual in the traditional financial sector, although Goldman-Sachs and other important institutions have tacitly given up their investment weapons in a freer hand to explore the potential of Bitcoin.

Bill Gates: $ 0

"As an asset class, you do not produce anything, so you should not expect it to go up.It's a kind of pure" fool theory "investment … I agree that I would do it if there was an easy way to do it." – Bill Gates.

Gates has never been a fan of Bitcoin, famous for stealing the coin he received as a birthday present years ago. While Gates has refused to link a dollar value or a timeline to its prediction, the implication is that – sooner or later – the Bitcoin market will implode. Ironically, the Bitcoin card market is rapidly evolving and could still be an easy way to shorten Bitcoin ahead of the expected Gates market crash.

Kenneth Rogoff: $ 100

"I think Bitcoin will be worth a small part of what it is now if we're going out in 10 years from now … I would see $ 100 as much more likely than $ 100,000 in ten years from now." – Kenneth Rogoff.

Rogoff put his 2028 prediction on the low end of the spectrum in an interview with CNBC, which garnered a lot of attention because of Rogoff's position as a professor at Harvard University and former head of the Fund International Monetary. It bases its forecast on the relatively subtle end uses of Bitcoin, adding: "Basically, if you take away the possibility of money laundering and tax evasion, your actual uses as a transaction vehicle are very small."

Thomas Lee: $ 25,000

"The reason Bitcoin looks really good here is the mining cost of about $ 7,000 at full load, and the difficulty is increasing, so by the end of the year it will be $ 9,000 … We still think Bitcoin it can reach $ 25,000 by the end of the year or something. "- Thomas Lee.

Lee is the founder of the research firm FundStart Global. In two separate interviews in July on CNBC, Lee predicted that rising Bitcoin extraction costs would bring the coin to around $ 25,000 by the end of the year. It has given other, more accurate data – in particular $ 22,000 – in other media, but firmly supports that prices must rise from the current level. At a recent summit on cryptocurrency, Lee blamed the rather sudden fall in Bitcoin prices this year on global regulatory uncertainty, a general bearish market and the unknown effects of future Bitcoin contracts.

Max Keizer: $ 28,000 – $ 100,000

"The move to $ 28,000 will be driven by the crisis and so no #Bitcoin will be available under $ 100,000 as price gaps – and even at that price, not much BTC available." – Max Keizer.

Keiser published his latest forecast on Bitcoin on Twitter. Keizer is a member of the capital company Crypto Venture Heisenberg Capital, and previously predicted that Bitcoin would have exceeded $ 17,000 last year in December. However, he followed the failed prediction that Bitcoin prices will continue to rise up to $ 100,000.

David Drake $ 30,000

"I would say that this year is a cryptocurrency of Wall Street and … we think the bitcoin cryptocurrency will be worth $ 30,000 at the end of the year, it's limited." – David Drake.

Drake is the founder of LDJ Capital, and his enthusiasm for cryptocurrency is not limited to Bitcoin. Drake believes that Bitcoin will always maintain its preeminence in the cryptosphere, but the cryptocurrency in general is directed towards a much more widespread acceptance. In the end, he said, hundreds of different cryptocurrencies could play an important role in the daily life of the financial market.

Jeet Singh: $ 50,000

"Bitcoin could definitely see $ 50,000 … We'll probably go through a period of suffering of volatility around the time of the next $ 10,000 Bitcoin limit." – Jeet Singh.

Singh's prediction was made in January at the World Economic Forum. Although the price of Bitcoin has plummeted rapidly thereafter, Singh has maintained its prediction and still believes $ 50,000 is feasible. In the last six years, Singh has been a portfolio manager of cryptocurrencies.

Bobby Lee: $ 60,000

"When #Bitcoin exceeds $ 60,000 in the next few years, it will reach a total circulation value of $ 1 trillion, which will be a huge #milestone for $ BTC, and will lead to greater price stability, greater global liquidity and for even faster adoption around the world. #VirtuousCycle "- Bobby Lee.

Lee, the head of the Bitcoin Foundation, believes Bitcoin can reach $ 60,000 by the end of the year. In the long run, prices could go up to $ 1 million, he said. His last observation on Twitter citing the $ 60,000 figure does not provide a precise date, but is pegged to a circulation value of $ 1 trillion.

Vinny Lingham: $ 100,000 – $ 1 million

"Currently Bitcoin is priced at 2.5% chance to claim $ 100k or 0.25% chance to claim $ 1 million." – Vinny Lingham.

Lingham is a co-founder of Civic and a member of the Bitcoin Foundation. Lingham did not include a timeline along with its price forecast, but offered an interesting warning: the price of Bitcoin will probably go through several boom-and-bust cycles on the way up. It is the nature of cryptocurrency to operate in bubbles, he has already said in a blog post.

"Today, I need to provide a warning about the risks of too rapid price appreciation.Yes, bitcoin is both scarce and precious, which will bring the price up over time, but if that happens too quickly, we will enter a another boom / bust cycle – which is not really an ideal situation if we want Bitcoin to move from a commodity to a store of value, "said Lingham. "This means that Bitcoin needs to get boring again and how it has to move from a digital commodity to a store of value (which by definition means low volatility), and eventually it could become a digital currency. we are hoping to go back many years ".

Trace Mayer: $ 115,000

"The current #Bitcoin has a very similar trend to that of January 2013 ($ 7 -> $ 266 -> $ 90; $ 700- $ 20k -> $ 9k) with new backlog accounts, etc. Then Silk catalyst Road (sellable supply shock) for $ 100-> $ 1,200 Mountain of #WallStreet money in line What are the potential scenarios BT8 $ 2018? @ToneVays? "- Trace Mayer.

A commodity investor and a Bitcoin supporter since his price was only a quarter of a dollar, Mayer believes Bitcoin could reach $ 115,000, using a Multi-Mayers approach.

Tim Draper $ 250,000

"This will be so big, so if you see a dive, jump in. Maybe you'll dive further, but boy, I made that prediction and I'm sticking to it, $ 250,000 by 2022 for Bitcoin." – Tim Draper.

Draper is the founder of Draper Associates and DFJ. Outside of the world of cryptocurrencies, Draper is largely credited with the role of grandfather of viral marketing through online media such as Hotmail, Skype and others. Draper reiterated his previous $ 250,000 request to TheStreet in a recent interview. While he did not put a specific dollar figure on Bitcoin by the end of 2018, he said he believes prices will be on a generally upward trend on the road for that figure of $ 250,000, 2022.

Cameron Winklevoss $ 320,000

"So if you look at today at a $ 100 billion capital market, now last week could be over 200, so it's actually a buying opportunity, we think there's potential appreciation from 30 to 40 times. because you look at the gold market today, it's a $ 7 trillion market, and so, many people are starting to see it, they recognize the store owned by value So we think that regardless of price changes in recent weeks, it is still a very underrated resource. "- Cameron Winklevoss.

The twins Winklevoss, Cameron and Tyler, are stars in the Bitcoin sphere for their rapid rise to a net worth of over $ 1 billion. Cameron Winklevoss's prediction of a $ 320,000 bitcoin assumes a timeframe of 10 to 20 years.

John Pfeffer $ 700,000

"Bitcoin is the first valid candidate to replace the gold that the world has ever seen, so if Bitcoin becomes the dominant non-sovereign value reserve, it could be the new gold, or new reserve currency." – John Pfeffer .

Although not given a timeline for its prediction, Pfeffer Capital's partner told this group of New York investors that the value of Bitcoin will exceed $ 700,000 if it replaces gold as a reserve of value. He supported his claim with a bit of math: if Bitcoin replaces all the private gold bars, or $ 1.6 trillion in gold, the approximately 18 million Bitcoin that estimates will be circulating at that time a minimum of $ 90,000 will be worth each. Obviously, the value of Bitcoin can only rise from there, which is where he found the figure of $ 700,000. Relative probabilities of everything that happens? Pfeffer puts the 8% on $ 90,000, the 1% on $ 700,000.

John McAfee $ 1 million

"I absolutely agree with the one million dollar forecast … It's still two and a half years in which two things will happen: Bitcoin will continue to grow and the US dollar and other legal currencies will devalue." – John McAfee.

The legendary controversial amount of software and cryptocurrency that McAfee has predicted, along with a particularly creepy automatic cannibalism wager, that Bitcoin will reach $ 1 million by 2020. McAfee has more than 840,000 Twitter followers and has been charged with making forecasts of rather dishonest price in the past in exchange for money – or perhaps to increase the value of their holdings. For what it's worth, McAfee also predicts that Ethereum's cryptocurrency number 2 will suffer a similar explosion in value, reaching $ 500,000 over the same period of time.

Conclusion

Forecasts of cryptocurrency prices are notoriously difficult to achieve, and it is a virtual certainty that one or more people mentioned above will hit the nail in the head. After all, the possible hypotheses range from $ 0 to over a million. It would be a rare market, in fact, that Bitcoin falls out of these limits.

Only time will tell, but – for now – the whole market can really do is watch, wait and guess.

References

1. https://www.thestreet.com/investing/bitcoin/tim-draper-reiterates-250000-dollar-bitcoin-price-target-14712907
2. http://dfj.com/people/timothy-draper/
3. https://www.cnbc.com/2018/07/05/fundstrats-tom-lee-cuts-his-year-end-bitcoin-forecast-to-20000.html
4. https://www.marketwatch.com/story/theres-a-decent-probability-bitcoin-goes-to-zero-says-vanguard-economist-2018-05-21
5. https://twitter.com/maxkeiser
6. https://twitter.com/TraceMayer?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E953669761807933440&ref_url=https%3A%2F%2Fcoinsutra.com%2Fbitcoin-price-predictions%2F
7. http://fortune.com/2018/04/25/bitcoin-price-prediction-john-pfeffer/
8. https://www.cnbc.com/2018/03/05/bitcoin-more-likely-to-be-100-than-100000-in-10-years-kenneth-rogoff.html
9. https://www.cnbc.com/2018/07/06/winklevoss-stays-bullish-on-bitcoin-hires-nyse-cio-to-gemini.html
10. https://dailyhodl.com/2018/10/05/2018-list-of-crypto-predictions-by-top-bitcoin-bulls-and-bears/
11. https://bitcoinist.com/bitcoin-60k-when-not-if-bobby-lee/
12. https://www.blockchain.com/en/charts/market-cap