The long-awaited halvingbitcoin event occurred on May 11, 2020. This has led many analysts to predict the price of bitcoin will increase in the next few years. The main argument for rising prices is the reduced supply of Bitcoin. After being halved, the miner's reward block was cut in half and is now 6.25 BTC. This figure replaces the previous prize, which was 12.5 BTC before the halving.
So, assuming the current situation will continue, the Bitcoin price prediction will increase and many people claim that this will be a huge advantage for this most prominent cryptocurrency. Other drivers are considering the current economic situation. The FED and many other major central banks in the world are printing more money that we have never seen before. During this time, a limited supply asset like Bitcoin has a huge advantage for growth. Today, we rounded up the 8 best price predictions for Bitcoin, which came from leading figures in the industry.
Please note, this is not investment advice, and you should always do your own research. (or DYOR in crypto terms)
Anthony Pompliano, $ 100,000, Estimated: 2021
Nicknamed 'Pomp', he is a prominent figure in the cryptocurrency industry and a strong believer in Bitcoin and Blockchain technology. Pompliano is the founder of cryptocurrency investment firm Morgan Creek Digital, and he says it's safe to invest his money wherever he goes.
He always stated Bitcoin is the future, investors who believe that Bitcoin will reach $ 100,000 by 2021. Pompliano said that Bitcoin is the best alternative that we can find to the current monetary system, and investors in this field will be happy eventually.
If the price is really proven, then the prediction of Bitcoin will reach a market cap of around $ 2 trillion. Given that the current market cap of gold is much higher than $ 2 trillion, it can be said that Bitcoin could reach this level. However, only time will tell what will happen.
Dan Morehead, $ 110,000, Estimated: August 2021
Again, another important investor in this area, Dan Morehead claims Bitcoin will hit $ 111,000 by the end of August 2021. The founders of the Pantera Capital Investment Group say they have examined the two previous Bitcoin halving periods and found that it is increasing gradually. significantly reduced after both events.
Morehead added that his prediction could grow to around $ 550,000 in the same time frame. However, he believes the $ 110,000 level would be the most sensible judgment given the current Bitcoin price.
PlanB: $ 100,000, Estimated to occur in: 2021
PlanB is an analyst you can find on Twitter. He developed the Bitcoin model which was used for precious metals such as gold and silver. His Stock to Flow (S2F) model predicts the Bitcoin price will reach $ 100,000 by 2021. This model uses scarcity and demand to calculate the price. After Bitcoin was halved, analysts predicted the cryptocurrency would surge to a new ATH.
Stock to Flow is definitely a controversial model, but at the moment it works. Previous price predictions based on this model are very accurate. However, given Bitcoin's volatility, this situation could change in the future. However, of course this is also something to watch out for in the future.
Andy Edstrom, $ 400,000, Estimated: 2030
The author of a book called 'Why Buy Bitcoin', California investors are big fans of Bitcoin. A wealth manager for US-based company WESCAP, Edstrom said Bitcoin would 'easily' hit a market cap of $ 8 trillion within a decade. It's worth noting that $ 8 trillion is currently a gold market cap. Many people see Bitcoin as 'Digital Gold' and Edstrom believes that 'Digital Gold' will eventually match real gold in terms of market cap, or even surpass that.
Let's break down the price prediction. If Bitcoin reaches a market cap of $ 8 trillion, then one Bitcoin will be worth around $ 400,000. And the current price increase is almost 40x. Can? Perhaps, especially if you think like Edstrom, who believes BTC will become the world's default currency in 10 years. Better save some Satoshi, then ...
Tom Lee, $ 125,000, Estimated in: 2022
Founder of research and analytics firm Fundstrat Global Advisors, Tom Lee has always said that there is bullish potential in Bitcoin. Always saying that it is an 'orange coin', Lee declared in January 2018 that the Bitcoin price would hit $ 125,000 by the end of 2022.
However, Lee is always happy to parse his opinion for his busy schedule. He previously said that Bitcoin would hit $ 25K by the end of 2018, but it never materialized. He also gave a $ 100K price prediction at the end of the year, and that's unlikely given the current conditions. Therefore, you need to pay attention to this prediction from him.
Draper's team, $ 250,000, Estimated to occur in: 2022
Draper is a major venture capitalist. He has made a number of successful investments during his career, most notably in Hotmail, Apple, Tesla and Skype. He is also a strong believer in Bitcoin, having made his first investment in a leading cryptocurrency when it was trading for around $ 600.
Draper is very persistent and confident in predicting the price of Bitcoin, and claims Bitcoin will reach $ 250,000 by the end of 2022.He keeps repeating the same prediction on various occasions and adding Bitcoin and cryptocurrencies will be used everywhere in the future:
"In five years you're going to step in and try to pay fiat [government-backed currency like the US dollar] for Starbucks coffee, and the baristas will laugh at you, because they'll say," What's this? Are you counting your money? "He said on CNBC, last 2018.
Mike Novogratz, new ATH, Expected to happen in: 2020
The founder of cryptocurrency bank Galaxy Digital, Mike Novogratz is a cryptocurrency enthusiast. He previously said he would consider quitting the industry if Bitcoin failed to regain $ 20,000 ATH by the end of the year. Novogratz believes the current macroeconomic conditions create the perfect conditions for Bitcoin, and he believes the Bitcoin price will continue to increase until the end of the year.
According to him, there is great investor interest in this market and he has improved his Bitcoin position following the FED's efforts to save the economy during the Corona virus pandemic.
He stated that he would exit the cryptocurrency market if Bitcoin failed to hit $ 20,000 by the end of the year, adding:
“I saw investors I had never seen before, hedge fund investors, high-value investors getting into Bitcoin for the first time. If it doesn't fit at the end of the year, I think I might hang up my shoes. Because if it doesn't go up now, you know, I'm not sure when it will. We're supposed to reproduce in six months, we really have to. This is it, maybe at the end of the year. "
Cameron Winklevoss, $ 40,000, No Date
We have the oldest prediction on our final list, and this one from Winklevoss Twins resident Cameron. The co-founder of exchangeGemini once said a prediction in 2013 that the price of Bitcoin would reach $ 40 thousand in the future. Looking at the current price, that means Bitcoin will have to increase by about 40 times, which doesn't seem very real yet.
He has stated:
"The bullish case scenario for Bitcoin is a market cap of 400 billion US dollars, so the coin price of 40,000 US dollars, but I believe it could be much bigger. When this will happen, if it happens, I don't know, but if it does, it is possible. will happen much faster than anyone imagined, "
Today, we list some of the best and crazy Bitcoin price predictions from the most important figures in the industry. But we want to say and remind you that you should do your own research before making an investment decision. Of course, these people had a good reputation in this area, but their reputation did not guarantee the correctness of this prediction.