What percentage of your wealth should be tied up in bitcoin? A percentage that is equivalent to your understanding of how the technology works and your ability to absorb the risks it entails, which for most people is a small percentage
Bitcoin is a product of thousands of years of evolution in the ways we do commerce Bitcoin is money 2.0!
As cryptocurrencies develop more compelling utilities, creating ever faster and safer payment systems and allowing for ever more complex smart contracts utilizations, theyre slowly shifting the old viewpoint of what money is supposed to be to a new, fresh and, for bmany, insane paradigm.
The judgment about whether Bitcoins primary use case should be as a means of exchange (a currency) or as a store of value (digital gold), has not yet been disclosed by the community. The beauty of the protocol is in its potential to grow and adapt to the needs of the community.
The code is under constant development, continually being improved and even forked into new iterations.
steady and decreasing rate of issuancethats transparent and available for everyone to see. One cannot speak of a nominal value of Bitcoin.
Its price is determined solely by thesupply and demandon the free market, and therefore, Bitcoins real value is subject to speculation, creating massive price volatility. So much so that since it hit the tipping point of mainstream popularity in early 2017, its mostly used as a speculative instrument and a get-rich-quick scheme.
Coinbase, for example, as one of the biggest crypto-exchanges registered in the U.S, has signed up more than 12 million customers that are buying, selling, day trading or investing in crypto on a regular basis.
Well, yes and no. On the one side, theres no central body controlling the price of Bitcoin, so the value of the currency is, in a sense, what we collectively agree it is. But on the other hand, there are several key factors affecting whether the price is going up or down.
One of the biggest factors is the rate of adoption. As more and more people enter the market, the value of the network increases exponentially. This is known asMetcalfes lawand, according to financial analysts, it can be used to explain Bitcoin price predictions over the past four years with 94% accuracy.
The other massive factor impacting Bitcoins price is regulation. If the regulators decide to crack-down on cryptocurrencies, the rate of adoption decreases (at least in the short term) and the barriers to entering the market increase, so the price drops.
There are many other factors that amount for Bitcoins price, but were not going to get into that right now because theres essentially only one thing that novice Bitcoin investors care about, and that is the answer to the age-old question: Can Bitcoins price movement be predicted with accuracy?
The short answer is, no. It cant. However, many financial experts, investors, and Bitcoin Gurus have their own versions of the future of Bitcoin, and we took the time to make up a list of one of the most prolific personas in crypto and their Bitcoin price predictions.
Hopefully, reading the opinions of key players in the game will give you a better perspective of where things are going for Bitcoin.
John David McAfee, born September 18, 1945, is a British-American computer programmer and a serial entrepreneur. McAfee became famous after founding the widely knownMcAfee Associates, a software company that created the firstantivirusin the world.
In 2011, the company was bought by Intel and rebranded to Intel Security. According to some sources, his wealth nosedived from $100 million in 2007 to just $4 million when the financial crisis struck the USA the same year.
Today, hes known in the crypto world by his extremely bullish stance on Bitcoin, and as the CEO of MGT Capital, a technology holding company that switched its focus from social gaming to cybersecurity and heavy-duty cryptocurrencymining.
Although he was already several years in the game, McAfee rose to fame in the crypto community when heclaimed, back in July 2017, that he will eat his own dick on national television if Bitcoin doesnt reach $500.000 by 2020.
This statement got a lot of attention, and it was initially apprehended as a joke or an overstatement on his part by the media, but he kept reiterating it and pushing it further and further, reassuring the public that hes serious about it.
Back in 2017, when he predicted that Bitcoin would reach $5.000 by the end of the year, the superstar cryptocurrency ended the year at the $20.000 mark, exceeding everyones expectations.
On 29 November 2017 he raised the stakes of his initial bet andtweetedthat he now predicts Bitcoin will reach $1 million by the end of 2020, and if it doesnt, he will proceed to eat his dick on national television.
I have a doctorate in point-set-topology. It predicts BC at $2,431,013 in 3 years. other math systems between $1,900,000 and $2,600,00.
John McAfee (@officialmcafee)July 17, 2017
Thats a bold statement. And yes, McAfee has years of experience in the industry and he was right in many of hispredictionsthus far, but lets be real, nobody can predict the future of crypto. This guy is playing high-stakes poker with his dick on the table I guess well have to wait for 3 years and see what happens.
Twitterco-founder Jack Dorsey made a bold prediction this week during an interview with The Times of London, saying:
The world ultimately will have a single currency, the internet will have a single currency. I personally believe that it will be Bitcoin.
He went on to say that he believes this will likely happen very quickly probably over ten years, but it could go faster.
Dorsey is an investor in Lightning Labs, the company working on theLightning Protocolfor Bitcoin, having put $2.5 million in seed capital into the company on March 15, 2018.
Dorsey did go on to say that he realizes Bitcoin does not currently have the capability to be used as a currency due to the cost and slow speed of transactions. He went on to say that as it becomes more mainstream, and as new technologies are developed to enhance Bitcoin these issues will disappear.
This prediction by Dorsey makes him the new uber-fanboy for Bitcoin, putting him ahead of John McAfee, who famously predicted this past November on Twitter that he believes Bitcoin will be $1 million by 2020, and if it isnt he will eat his dick on national television.
Born in Sri Lanka and raised in Canada,Chamath Palihapitiyais a former Facebook employee turned venture capitalist. Chamath is a co-owner and board member of the Golden State Warriors and founder ofSocial Capital, an education and healthcare-focused venture capital firm, managing a fund of more than 1.2 billion dollars.
Chamath started investing in Bitcoin back in 2012 when the dollar cost average of his investments were approximately $100. At one point in time, Chamath claimed that he was an owner of almost 5% of all the Bitcoin in circulation.
In an interview he gave for CNBC, Chamath reaffirmed his bullish stance on Bitcoin, stating that he thinks that an investment in crypto is afantastic hedge and store of value against autocratic regimes and banking infrastructure that we know is corrosive to how the world needs to work properly.
When asked about his Bitcoin price prediction, Chamath confidently asserted that he thinks thatthis thing is a $100,000 a coin probably in the next three to four years. And I think it is in the next 20 years a million dollars a coin.
Chamath has been in the investing game and in the crypto space for a very long time now, and many of his price predictions have already come true. On September 1, 2013, when BTC was trading at $135 hetweetedthat he believes thatBTC will trade thru $200 before the end of this year.
Funny enough, just two months later Bitcoin broke the plateau of $1000 per coin.
Wences Casaresis an Argentinian technology entrepreneur specializing in technology and financial ventures. Back in 1994, Casares launchedInternet Argentina S.A., Argentinas first Internet Service Provider.
He is the founder and CEO ofXapo, a Bitcoin wallet startup thats said to be the largest custodian of Bitcoin in the world, as well as a board member at PayPal.
Casares bought his first Bitcoins in 2011, and he developed the interest in the cryptocurrency because of Argentinas native currencys high financial volatility. Needless to say, he is a firm believer in both Bitcoin and the distributed ledger technology, as well as in the inextricable bond between the two.
In a Januaryinterviewwith Dan Schulman, CEO of PayPal, Casares called Bitcoin and the blockchain aninteresting experimentthat, if it worked out, couldchange the world more than the internet changed it.He went on to say that much like any other experiment, Bitcoin and theblockchaintechnology could also fail, but he gave this outcome only 20% chance of happening.
One bitcoin is going to be worth $1 million. So, most of the world is going to wish they had bought it at $14,000 or $20,000
Casares believes that if Bitcoin doesnt fail, it will undoubtedly hit the $1 million mark. This will happen after the experiments success solidifies, which according to him can take anywhere from five to ten years to happen so, in theory, Bitcoin might just reach $1 million around 2027, if not sooner.
David Mondrus, CEO ofTrive, is well-known in the crypto community. Hes a former writer forBitcoin Magazine, CTO at and CEO and Employee 5 m.
None of this is important, however, because David and his wife Joyce will forever be remembered as the first couple to get married on the blockchain! Embedding your marriage on an immutable ledger is the coolest geeky idea ever!
Trivia aside, David Mondrus, as one of the guys that got into crypto since the early days is very optimistic about Bitcoin. Affirming that the price of Bitcoin is determined by the supply and demand, he expects the value of Bitcoin to reach $1 million in about a decade as fewer coins are electronically issued or minted.
Do you think that the US government will ever stop printing money? There are only 21 million Bitcoins that can possibly be in existence 16 million of them already exist.When that mining stops or when it slows down dramatically, thats when the value really increases because there is no more supply to be created, he said in an interview.
Yes, this guy is on the list. Hes everywhere. You open your closet hes there, you open a book a tiny Tai Lopez pops up reading a book about reading books. If you havent heard about Tai Lopez, you clearly havent read a bo Havent been on Youtube for a while. Long story short, Tai Lopez is a Youtube celebrity and entrepreneur.
With over 1 million subscribers on his channel and over abillion of booksread in his lifetime, this guys opinion on Bitcoinsurelycounts.
Tai Lopez got into crypto three days ago, and hes already selling his $500 all inclusive course on cryptocurrencies. He recently voiced his opinion, stating thatif the worlds millionaires allocate merely 1 percent of their holdings into Bitcoin, the Bitcoin price could reach $60,000 in the mid-term.
In one of his many viral videos about cryptocurrencies, he also makes the case for1 million dollar Bitcoinby 2024.Of course, you should always listen to a guy that reads one book a day.
Born on August 21, 1981, twin brothers Cameron Winklevoss and Tyler Winklevoss are former U.S. Olympic rowers, Internet entrepreneurs and venture capitalists heavilyinvestedinto Bitcoin. The Winklevoss twins rose to fame when they sued Mark Zuckerberg (and got a $65 million settlement), claiming that Facebook was initially their idea and that Mark stole it.
Today theyre known as the owners of theGeminicryptocurrency exchange and as the first Bitcoin billionaires. The twins owned more than 1% of all bitcoin in existence in 2013 which amounted to more than $1 billion at the time. However, they still havent cashed out all of their money.
The twins are big believers in the long-term value of Bitcoin, stating in a recent CNBC interview thatIf you look at a $100 billion market cap today, now last week it might have been more like 200, so its actually a buying opportunity, we think that theres a potential appreciation of 30 to 40 times because you look at the gold market today, its a $7 trillion market. And so a lot of people are starting to see that, they recognize the store of value properties. So we think regardless of the price moves in the last few weeks, its still a very underappreciated asset.
How long will it take for Bitcoin to reach 40 times the size it is today? Winklevoss twins are thinking 10 to 20 years ahead.
Each year Wall Street hedge fund managers and investment pros gather in New York City at the annual Sohn Investment Conference to make predictions for the coming year on their best stock picks. The 2018 event, held in April, was somewhat different as it was the first time in the Conferences 23-year history that someone took to the stage to recommend a digital investment Bitcoin.
John Pfeffer, chairman and partner at Pfeffer Capital, a London based investment group made a bold Bitcoin prediction, saying he can see the digital currency rising to $700,000, although he didnt give a timeframe for the price target.
Even though there was no timeframe attached to the prediction, its far above most other Bitcoin predictions, including that ofTim Draper, who predicted Bitcoin would reach $250,000 by 2022 at his blockchain party just a few weeks prior.
Bitcoin is the first viable candidate to replace gold the world has ever seen, Pfeffer told the crowd at the Sohn Investment Conference at New Yorks Lincoln Center. So if Bitcoin becomes the dominant non-sovereign store of value, it could be the new gold, or new reserve currency.
Pfeffer justifies his prediction with the following logic: His first assumption is that Bitcoin can replace all the gold bullion being held by private investors. So, all those gold coins and bars being kept under the mattress as a store of value. Bitcoin is vastly easier to store and secure, Pfeffer said.
The value of all that stored gold bullion is roughly $1.6 trillion, says Pfeffer. If the full replacement of privately held gold occurs when there are 18 million Bitcoin in circulation, the value of Bitcoin would be around $90,000 at that time. This is the most conservative scenario according to Pfeffer, and he gives it an 8% probability of occurring.
But Pfeffer has an even more ambitious prediction. He feels that Bitcoin could become a replacement to foreign currency reserves for global central banks. If Bitcoin were to replace central bank holdings of fiat currencies as reserves the price of Bitcoin could skyrocket even higher, and Pfeffer feels its reasonable that central banks would utilize Bitcoin as a reserve currency over time.
The total foreign reserve holdings at central banks is currently $12.7 trillion. While Pfeffer admits its highly unlikely that Bitcoin would replace all of those reserves, he does feel it possible that it could replace a quarter of foreign reserves. In that scenario we would see Bitcoins price balloon to nearly $200,000, but if Bitcoin did fully replace all foreign reserves it would have a valuation of $700,000.
While Pfeffer only gives a 1% probability of this happening, its a large enough probability for him to make a venture-style capitalist bet on Bitcoin.
As an investor, what interests us most at this point is that Bitcoin might become the dominant non-sovereign currency, John Pfeffer.
Ronnie Moasis an independent research analyst specializing in the technology sector and the founder ofStandpoint Research, an equity research firm that provides forecasts and analysis on both international and domestic equities.
Hes got an MBA in finance from the City University of New York and has given more than a hundred television, radio, and newspaper interviews in his career as a stock picker since 2014. Hes ranked 8 among more than 4,000 analysts for 2008-2017.
Ronnies name has become tantamount to Bitcoin thanks to his bold predictions for the future of the cryptocurrency; back in July 2017, Ronnie predicted a target price of $50,000 for 2027 and Bitcoin reached over $8,000 by February 2017. The currency was trading at $2,570 at the time of his prediction.
As for 2018, he believes Bitcoin will peak at $28,000, but he leaves some room for adjustment in the following months.
According toCointelegraph, Ronnie has givensome of the most accurate price predictions on Bitcoin this year . You can follow his input on Bitcoin and other cryptocurrencies on hisTwitter account.
Tim Draper is first and foremost a venture capitalist, but ass part of that he also has quite a bit of that capital tied up in technology related projects. Notably, he is a strong believer in Bitcoin, cryptocurrency and blockchain technology. In fact, hes been quite notable in the crpytocurrency community since 2014, when he predicted that is four years the price of Bitcoin would be $10,000 (it was just $472 at the time). He also backed that up with his own money by purchasing 30,000 BTC at the Silk Road auction held by U.S. Marshals in 2014. The price he paid hasnt been disclosed, but at the market price at that time the Bitcoin would have been worth $19 million. In April 2018 that investment is worth roughly $239 million.
Since hitting it right on that prediction Draper has been avoiding making any other Bitcoin predictions, avoiding the subject whenever questioned by the media during interviews. That all changed on April 13 when Draper reveled his latest four-year Bitcoin forecaston Twitter, saying he believes that the price of Bitcoin will reach $250,000 by 2022.
Of course Draper isnt the only bullish investor when it comes to Bitcoin. Just recently, Tom Lee of Fundstrat predicted Bitcoin will reach $91,000 by 2020. He has also been correct with his forecasts before, famously predicting Bitcoin would reach over $10,000 by December 2017, which we all know it did. And last week the hedge fund Pantera Capital called a low for Bitcoin at $6,500, additionally calling for the leading cryptocurrency to reach $20,000 before the end of this year. Topping that prediction is one by David Drake of LDJ Capital, who believes Bitcoin will be trading over $30,000 by the end of 2018.
Critics have scoffed at the prediction from Draper, citing his deep conviction in blockchain technology and cryptocurrencies as a bias that makes his prediction unreliable. Draper is so convinced in the future of cryptocurrencies that he proclaimed at the 2017 Web Summit that fiat currencies would be all but replaced by digital currencies within the next five years.
In five years, if you try to use fiat currency they will laugh at you bitcoin and other cryptocurrencies will be so relevant there will be no reason to have the fiat currencies.
In an interview with Fortune magazine following the Web Summit Draper said he believes Bitcoin is the future currency. He went on to explain further, saying, People ask me, Are you going to sell your bitcoin [for fiat]? and I say, Why would I sell the future for the past?
Draper has shown his devotion to blockchain technology over and over in his investments to blockchain startups, including Coinbase. He also runs an entrepreneur crash course at his Draper University that has a part of its focus blockchain technology for the entrepreneur. Bitcoin reaching $250k by 2022 is a serious prediction, but given the past success of Drapers predictions people are taking it quite seriously.
Roger Veris one of the most recognized faces in the Bitcoin community. Born on January 27, 1979, in Silicon Valley, Roger Ver is a cryptocurrency investor, serial entrepreneur, and an illegal eBayexplosives dealer.
He started investing in Bitcoin in early 2011 when the prices were lower than $10 and when everybody believed that Bitcoin is some sort of a scam. However, Roger was not like everybody. He was a visionary.
In fact, he was so confident in this new technology that in 2011 he made a$10.000 bet, claiming that Bitcoin will outperform gold, silver and the US stock market and the US Dollar by a factor of 100, all within the next two years. And was he right?
Well, almost he wastwo months off. It took Bitcoin two years and two months to do this. In fact, the crypto market today is outperforming the gold, silver and stock market by more than 1000 times.
In aninterviewhe gave forThe Dollar Vigilanteblog in October 2015, when Bitcoin was hovering at approximately $250, he speculated that thiscould very easily be worth $2,500, or $25,000 per Bitcoin, or even $250,000 per Bitcoin.
As a former avid advocate of Bitcoin, Roger was so heavily invested in it, he was referred to as Bitcoin Jesus. However, many things have changed since then. On August 1, 2017, the Bitcoin Cash hard fork was announced, and Roger Ver switched sides. Bitcoin Cash is now Rogers new Bitcoin. (dont forget to also check out ourBitcoin vs Bitcoin Cashguide). He evenclaimsthat BCH is therealBitcoin and the only authentic descendant of Satoshi Nakamotos vision.
I think a lot of the people that are buying into bitcoin right now have been hearing about it in the news for years, and every time they hear about it, its at a higher price than before
Ver told The Crypto Show.And theyre buying it because they think, Oh, this is a great investment; its going to go up some more.
Being cocky in his predictions as always, in October 2017 he stated:It wont take too many more months until Bitcoin Cash completely surpass Bitcoin Core in price, number of users or market cap. Its not a question of if, its just a question of when. I think its going to happen next year.
While Bitcoin has continued to struggle throughout the first half of 2018, Fran Strajnar, the CEO of cryptocurrency research firm Brave New Coin is seeing strong fundamentals for the top cryptocurrency. He also cites improving infrastructure as a reason he believes the price of Bitcoin could skyrocket by more than 20x by the end of 2020.
The adoption rates are continuing to be quite steady, and adoption rates heavily correlate to the price, so therefore, unless for some reason people just simply stop continuing to adopt Bitcoin, we should see $200,000 per Bitcoin by 1st January 2020 at the latest. Hashrates, number of wallets, apps, dapps all that infrastructure is just steadily increasing, so adoption is most definitely happening and a lot easier to quantify, so were fairly confident with the fundamentals of Bitcoin, and were questioning a lot of the fundamentals of the [initial coin offerings].
Such a move would see Bitcoin catapulting far beyond the $19,343 all-time-high reached on December 16, 2017, which in itself was a nearly 20-fold increase from its price on January 1, 2017. The 2017 move came when analysts were only predicting Bitcoin would reach $2,000 or $3,000 by the end of the year. Strajnar commented on how difficult it can be to predict the price moves in cryptocurrencies in general and Bitcoin specifically:
Last time I got asked this question I called $20,000 by 2020 and obviously that happened way earlier than expected, so who knows.
There are plenty of analysts who believe the price of Bitcoin will increase dramatically in the coming months and years, as you can easily see by reading through our list of predictions from leading cryptocurrency pundits and adopters. Just last weekJohn Pfefferpredicted a price of $700,000, while the most famous prediction is that of John McAffe, who believes Bitcoin will reach the $1 million mark.
Even predictions for the coming year are quite optimistic, with Fundstrat co-founderThomas Leeseeing Bitcoin at $25,000 by the end of the year. Both legendary hedge fund manager and ex-Goldman Sachs partnerMichael Novogratzand Blockchain Capital partnerSpencer Bogartsee Bitcoin at $50,000 by the end of 2018, which is in-line with the $200,000 prediction of Strajnar.
is a crypto strategist atSaxo Bank Groupwith more than a decade of experience in the financial markets as a trader and an analyst. He holds an MSc. in Applied Economics & Finance from Copenhagen Business School.
Petersen is very confident that the cryptocurrency market will expand immensely in the next decade. He expects the crypto market to account for 10% of the average daily volumes (ADV) of the current fiat currency trade.
Ten percent of $5 trillion is $500 billion, and if Bitcoin continues to dominate over other cryptocurrencies and accounts for a 35% of the market share by 2028, that could amount to $175 billion. If we divide this number by the number of bitcoins issued by 2028, which is~17 million, we get a price value of $100.000 per coin.
Petersens prediction may seem way too optimistic at first, but if we take into account that Saxos Bank Outrageous predictions the annual report predicted that Bitcoin would hit the $2.000 mark in 2017, and the price skyrocketed to $20.000 per coin in mid-December, suddenly his predictions dont soundthatimprobable.
Things move very fast in the tech world and even faster in the cryptocurrency space, so a prediction for 2020 might as well be 100 years out. Crypto markets remain characteristically volatile, but that hasnt stopped analyst Tom Lee fromFundstrat Global Advisorsfrom making a bold long-term prediction for the future price of Bitcoin.
In a recent Forbes article, Lee predicted that Bitcoin will reach at least $91,000 by March 2020. Thats almost double his prediction from July 2017, when he said he felt Bitcoin would reach $55,000 by March 2020.
In addition to making these types of stunning predictions, Lee is also the creator of the Bitcoin Misery Index, which was released in early March 2018. This index suggests that the best time to get into Bitcoin is when things are looking most bearish for the coin.
The Bitcoin Misery Index uses a combination of factors, such as the cost ofmining Bitcoin, trading trends on a monthly, daily and hourly basis, and other traditional technical indicators that reveal patterns in price movements.
Based on his analysis, anytime the index gets below 27 on a scale of 0 to 100, its a good time to buy. Currently the index has been registering in the mid to high teens. On the flip side, when the index registers above 67, its time to sell and wait for the next dip.
While this prediction may be bold, the charting by Lee and his team at Fundstrat shows that since 2010, three of four declines in Bitcoin of more than 70% have been followed by amazing gains. The chart below shows this data, and looks less impressive than it really is because the chart is in logarithmic scale rather than linear, which compresses the data. But it is easy to see that each large drop has been followed by a move to ever greater highs, and the next dip and recovery could make Lees prediction seem prescient.
MasterLucis somewhat of a legend in the Bitcoin community. Hes an anonymous Bitcoin trader renown by his prediction of both the April and November run-ups of Bitcoin in 2013. Back in December, when the price of Bitcoin was just above $1,000, hestated:
Third day in a row I wake up, see charts and ask myself Is this the end? and the third day in a row answer is Yes.  End of first historical bullish trend 2010-2013.
MasterLuc alsopredictedthe subsequent bear market just two days prior to the above statement, despite the fact that Bitcoin had reached an all-time high of $1,240:
Ah, of course, thanks, Satoshi and community, but I am still here =) Next entering point for me is in the 2016-2017 year.
On May 30, 2015, he wrote apostin which he predicted an