Bitcoin and altcoins are the future-oriented crypto-assets. When we talk about the future, then for the investment purpose it needs to have a strong forecast like gold. Gold is a physical asset that only raises its cost with it. The future is clear of gold analyzing the earlier graph and anyone can predict one thing for sure those only in the future will gold price sees the price rise.
So, what is the future projection for bitcoins and other cryptocurrencies? Digital platform-based functionality that will certainly affect cryptocurrencies prices. The volatile nature of the value of cryptocurrencies represents the condition on the market. Market prediction of bitcoin and altcoin is very unstable as the market’s status depends on different variables. The factors which are responsible for the construction of the price determination are many. Out of them, the most important seven factors which directly involve the market rate determinations are discussed in LINK. Those factors are so unpredictable that it is impossible to predict the current market status. But the graphical analysis can help analysts to predict the future value of cryptocurrencies.
How Market Prediction Can Be Determined?
Here, the entire graph represents the value of the Bitcoin. Every time halving happened the bitcoin price raises its ten folds or more. Red arrow marks are the indication of the halving time where red ellipses are the growth after halving. Hence, in the next year which is 2020, the third halving will occur we are expecting a big rise in the bitcoin price. Though other factors can influence market capitalization, the market prediction expected to rise in the coming years.
The Biggest Predictions For Bitcoin Price
Prediction 1:
For the top of the list I choose Mr. McAfee. To elaborate on the future of the bitcoin I want to provide some evidence in favor of a positive result. The famous McAfee antivirus software creator John McAfee predicted the value of Bitcoin in 2020 which could reach 1 million. He tweeted “When I predicted Bitcoin at $500,000 by the end of 2020, it used a model that predicted $5,000 at the end of 2017. BTC has accelerated much faster than my model assumptions. I now predict Bitcoin at $1 million by the end of 2020. I will still eat my d*** if wrong.”
Prediction 2:
Another prediction from Tom Lee, co-founder of Bitcoin bull predicted the price would be $91,000 2020. He was former Chief Equity Strategist JP Morgan and is working as head of research of Fundstrat, known as Bitcoin Bull. His prediction by the end of 2017 was $20,000 but he changed his projection and stands on the price of $91,000 by the end of 2020.
Prediction 3:
Kay Van-Petersen, as an analyst at Saxo Bank, he tweets about online investment and finance sectors. Using his analytic skill he chooses to stand at the price of $100,000 but by 2027.
Prediction 4:
One of china’s first cryptocurrency exchange platform’s BTCC’s assumed to be the price hike will be $1 million after 20years. As the market fluctuation continuously changes their prediction brings a negative statement for bitcoin price index. According to Bobby Lee and Charlie Lee (Litecoin creator) predicted a drop in the market for BTC value then will reach to $333,000 in 2021. In that scenario, he indicates that market capitalization could reach $7 trillion.
Prediction 5:
Max Keiser who is is known as the host of RT program Keiser report was also a Wall Street Trader. Tweets after bitcoin hash rate reach the 90 Quintilian that bitcoin price might reach $28,000.
Prediction 6:
Arthur Hayes, Bitmex founder, recent tweets about Bitcoin price says it will soon touch the mark of $20,000. He tweeted, “QE4eva is coming. Once the Fed gets religion again, get ready for #bitcoin $20,000.”
Prediction 7:
Another venture Tim Draper recently tweeted on September 15th, 2019 that “Billionaire venture capitalist Tim Draper says his bitcoin price forecast of $250,000 by 2022 understates the power of $BTC.” He puts his faith in the BTC and considers it to be a strong valuable asset.
Prediction 8:
According to Bitcoinpriceprediction.com the value of bitcoin will reach the benchmark of $100,000 as everyone wished by the end of 2025. Check their website for more prediction result. https://bitcoinpricepredict.com/bitcoin-price-prediction-2019
Prediction 9:
Among other positions, Wences Casares is Xapo’s founder and CEO, a Bitcoin wallet start-up, and a board member at PayPal. Casares first discovered an interest in Bitcoin in his home nation Argentina’s indigenous currency, the Peso, owing to elevated financial volatility. In 2011, the tech giant purchased his first Bitcoins.
Casares thinks that sometime before 2027, Bitcoin will reach $1 million, he said at New York’s Consensus 2017 meeting. Even better, he thinks that Bitcoin could reach one million bucks in as few as five years, stating that the milestone will be reached in 5–10 years on May 23, 2017.
Prediction 10:
John Pfeffer is a partner at the London-based Pfeffer Wealth family office. He may have set a bold Bitcoin price target of $700,000 — about 175 times the current Bitcoin price of $4,000. Pfeffer said that Bitcoin is the world’s first viable gold replacement.
Top Predictions That Went Correct
Prediction 1:
Tim Draper’s prediction was clear for 2018 that the bitcoin price will reach $10,000 certainly it happened exactly. The data came with the price of bitcoin when it hits twice what he predicted. The market capitalization was $20,000 and it maintained the range of $10,000 to $20,000 for the starting year.
Prediction 2:
The other accurate prediction was done by Mike Novogratz. Prediction implies that the price will touch the notch of $10,000 by April 2018. As everyone knows that period Bitcoin not only touched the predicted rate but also go beyond that.
Which Predictions Went Wrong?
Prediction 1:
The well-known TV show Cryptotrader’s popular host Ran Neuner presume that the bitcoin would be escalating to $50,000 by 2019 which seemed not going to happen though it hit the market cap of $20,000 in 2018. The current analytic indicates it will stay under $50,000.
Prediction 2:
An anonymous trader of bitcoin Masterluc whose previous predictions were certainly accurate by the end of 2013, this time went wrong. Overconfidently he predicted $40,000 to $110,000 which showed over anticipation on bitcoin price even though its volatility rate. We have to wait until the end of the year. However, current states on bitcoin price and the regulation strategies that are coming soon in the USA will hold a deep impact on the bitcoin’s fluctuation.
Prediction 3:
Mike Novogratz whose previous data analysis on bitcoin price fell on the correct box the next assumption dropped out of the box. He analyzed the limited supply of bitcoin and predicted the price would reach $40,000 by the end of 2018. However, the price hike did not happen then and not will occur in the current date which is struggling to stay by $10,000.
Should We Believe In Those Predictions?
Yes, we could consider the prediction but it is better to analyze own research on other variables which regulates the bitcoin price in the market. Many factors are standing in front of the global market which could change anytime the price. Possibility of the accuracy of the prediction is unstable as the price of BTC.
However, current market status does not appear to be near to that prediction. Since 2020 will be the fourth reward deduction period the prediction could be right but still, predictions are only myth. The reward of BTC per mining is now 12.5BTC which will reduce to 6.25 BTC in May 2020.
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