Bitcoin was developed in early 2009, where a person/group named Satoshi Nakamoto launched this cryptocurrency, stating that it will be the future of payments and investment. Over the years, Bitcoin has gained popularity, which led to making it the dominating cryptocurrency in the market.
Bitcoin was the first cryptocurrency launched, and as its popularity was reaching for the sky, more crypto assets were introduced by various people, and even hard forks of Bitcoin were launched. Even with soaring competition, Bitcoin maintained the lead as it’s market dominance reached 70% in recent years.
Bitcoin slowly gained pace since its launch, and it saw the ATH price of almost $19,665.39 per BTC in December 2017. Bitcoin is also known for its volatility as the price fluctuates wildly within the charts. With its gained popularity, more and more analysts and traders started taking part in the market, and with their entrance came the bitcoin price predictions.
Bitcoin Price Prediction and crypto predictions
Bitcoin is the only cryptocurrency that has received attention, awareness, and adoption across the globe. Payment getaway, organizations, and various online gaming platforms have also accepted Bitcoin as a form of payment. Bitcoin price predictions play a massive role in this worldwide adoption, as bullish views give people hope of a better future.
Bitcoin price prediction is carried out by various analysts and traders that try to study the Bitcoin market and compare the historical trends and the current trends and predict a future for the cryptocurrency. These enthusiasts deeply and properly consider these predictions, but these are possibilities of how things will look like, and one should not take these as final statements.
Here are some past bitcoin price predictions that were made until the year 2019.
1. Tim Draper – $10,000 by 2018
Billionaire venture capitalist, Tim Draper, predicted that BTC price would reach $10,000 by 2018. Tim earned his wealth as an early backer of Skype and Baidu. He is also amongst the supporting group of Bitcoin and blockchain. He bought 30,000 Bitcoins in July 2014, which were seized by the U.S. Marshals.
2. Mike Novogratz – $10,000 by April 2018
A former hedge fund manager, Mike Novogratz has been investing in the bitcoin and blockchain technology predicted that the investor interest is heavy and the cryptocurrency will reach $10,000 by April 2018.
He had invested around $150 million in the cryptocurrency space, with most of his funds being collected from outside sources, mainly wealthy individuals and fellow hedge fund managers.
3. Masterluc – $40,000 to $110,000 by 2019
However, all predictions can’t be true, and sometimes the traders have to struggle because of their predictions. Masterluc is an anonymous Bitcoin trader who is known for his impressive prediction skills. The most notable bitcoin prediction was which he made after the 2013 Bitcoin bubble.
He predicted that the price of Bitcoin would reach somewhere between $40,000 to $110,000 as the 2017 bull run will continue to rise. Later he suggested that this price will be achieved by 2019, but the case is different right now.
Now that we have seen the past predictions let us move forward to what the future of Bitcoin holds for us according to the predictions made by these analysts and enthusiasts.
Bitcoin Price Prediction 2020
1. Tom Lee – $91,000 by 2020
Co-founder of market strategy firm Fundstrat Global Advisors, Tom Lee is a well-known Bitcoin bull who has predicted the price will reach $91,000 by March 2020, on the basis of the past market trends shown in the charts.
2. John McAfee – $500,000 by 2020
If you think that Tom Lee’s prediction seems impossible, let’s take a look at the bitcoin price prediction by John McAfee. Founder of McAfee Associates, John McAfee has predicted that as Bitcoin is gaining popularity, every single Bitcoin will be priced at $500,000 by the year 2020.
Looking at Bitcoin’s current price, only a bull attack will take the cryptocurrency to reach such price range.
Bitcoin Price Prediction 2025
1. Kay Van-Petersen – $100,000 by 2025
Kay Van Petersen is an analyst at Saxo Bank, a Danish investment bank that helps with online trading and investment. Van-Petersen predicted that Bitcoin would rise to $100,000 by 2025. Earlier, he successfully predicted Bitcoin’s flow to $2000 by 2017.
2. Wences Casares – $1,000,000 by 2025
Wences Casares is the CEO and Founder of Xapo, a Bitcoin wallet, and he is also one of the board members at PayPal. His first investment in Bitcoin was in 2011 as he witnessed the market volatility in his home country, Argentina’s native currency, Peso.
He predicted that Bitcoin would hit 1 million somewhere between 2025-2027, and it can be sooner than this as well if the market cap keeps on increasing.
3. Winklevoss Twins – $5 trillion market cap by 2025-2035
The famous Bitcoin billionaires, Winklevoss Twins, have decided to take a different turn for the Bitcoin price prediction as they predicted the market cap of Bitcoin.
The twins suggested that the market cap of Bitcoin will reach $5 trillion between the years 2025-2035. The brothers have been a firm believer that Bitcoin is Gold 2.0, as it has been proved to be a better investment in comparison to gold at times.
Bitcoin Price Prediction 2050
Till now, we have seen how analysts from all over the world have hinted that by the time we’ll reach 2035-2040, the prices of Bitcoin will be touching the sky. However, we cannot ignore the continuous battle that the crypto world is facing with the government regulatory institutions and how they pose a threat to the future of cryptocurrencies in the world.
Many countries have banned the usage of cryptocurrencies, and many have moved towards the development of their own to make the system centralized and within the control of governments. Prediction the price of Bitcoin by 2050 is a tough one, but our analysts at Chaintimes have ruled out two possibilities.
The first possibility will be that the governments will try to impose a worldwide ban on Bitcoin and other cryptocurrencies, or the rules and regulations regarding their usage will be strict enough to lose the volume. This loss in volume might bring the price back to the early days $10-$100 range.
The second possibility can be that the governments finally come up to terms with the way cryptocurrencies work and support their usage. The support by the government will take the price well above in millions of dollars per BTC as the market cap will head towards trillions.
Whatever the situation is, according to the market prediction and our Bitcoin price prediction by 2050, Bitcoin will end up in the rags, or it will be up in the riches. The volatility of the market makes everything uncertain, and this is a significant issue for the market.