11 bitcoin price predictions for the next decade

in #steemleo11 months ago (edited)

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The changing cryptocurrency market constantly catches the attention of millions of people around the world. The bullish or bearish trends of bitcoin, for example, are topics of debate between operators, investors and the users themselves. Such is the case of @ChartsBtc who developed a compilation of 11 bitcoin price predictions for the next decade.

In his compendium he included the opinions of John McAfee, @ArminVanBitcoin, Murad Mahmudov, Tim Draper, Thomas Lee, Alistair Milne, @geertjancap, @phraudsta, @ 100trillionUSD, @nsquared and his own prediction on the price of bitcoin for the coming years.

One of the highlights of the collection is that none of the participants see bitcoin below US $ 10,000 after 2020.

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The most daring prediction is that of McAfee who sees bitcoin with a price of $ 1 million for next year. There are others like @nsquared, @ArminVanBitcoin and @ 100trillionUSD who think that price will be reached, but somewhere between 2028 and 2030.

The general opinion is that bitcoin would earn more than 1,000% between mid-2020 and mid-2024. That is, the predictions have as a floor the 10 thousand dollars and a cap that would exceed USD 100 thousand.

Prediction for 2020

By 2020, most see the outlook with an upward trend with variations ranging from $ 10,000 to about $ 90,000, with the exception of McAfee and Mahmudov. The latter is of those who think that bitcoin will reach a maximum limit that will exceed the barrier of 100 thousand dollars between 2024-2025, and then fall to about USD 50 thousand at the beginning of 2026.

In theory, the dizzying rise that bitcoin would have next year would be related to the reduction of the miner's reward or the halving that will lead to the issuance of the currency from 12.5 BTC to 6.25 BTC, a fact that will occur in May 2020. This is an automated process of the Bitcoin network in which miners see the incentive they receive for the generation of blocks reduced by half. In the case of Bitcoin, this event occurs every 210 thousand blocks.

Assuming that the price of bitcoin will continue to rise, analysts would be taking it for granted that the global adoption of the main cryptocurrency in the market will continue to rise, as will technological development, which would open the doors to new brands in capitalization From the market.

It is important to remember that the predictions refer to possible prices, not as a definite probability or a certainty that it occurs that way. The cryptocurrency market has shown in the past that it can be very volatile with daily fluctuations that can reach 80% or more in some cryptocurrency projects.

On December 17, 2017 bitcoin reached its all-time high by reaching more than $ 20,000 in some cryptocurrency markets. Since then, its price has fluctuated reaching a minimum, for 2019, of $ 3,400. At the time of writing this article the price of bitcoin was $ 8,538.