When it comes to accurately predicting the price of Bitcoin in the years to come, opinions are all over the place. Making any educated guesses is nigh impossible where this volatile market is concerned. Some experts have weighed in on this debate over the years, although it remains to be seen how these outlandish claims will materialize.
Tai Lopez Expects Millionaires to buy Bitcoin ($60,000)
Rather than just throwing some hopeful numbers and figures out there, Tai Lopez put together a solid argument as to why Bitcoin could hit $60,000 sooner or later. In his opinion, all it would take is all of the world’s millionaires to put 1% of their assets in Bitcoin. Although this seems like a more than achievable goal, one also has to keep in mind there is little to no chance all of the world’s millionaires will ever pay attention to Bitcoin.
At the same time, other factors could help contribute to this lofty $60,000 goal. It is certainly possible the current uptrend will pave the way for a new push to a fresh all-time high by late 2019. However, one also has to keep in mind nothing is ever set in stone and anything can happen when people least expect. Lopez also never put forward a timeline as to when this Bitcoin value will be reached. Most people wouldn’t mind seeing it happen this year, but in reality, it won’t happen for quite some time to come.
Mark Yusko Sees Plenty of Growth Ahead ($400,000)
It is commendable to note how so many people expect a much higher Bitcoin price compared to the values people are dealing with right now. Mark Yusko, founder of Morgan Creek Capital, is an individual who keeps close tabs on what is happening to Bitcoin’s value these days. As such, he recently made a prediction one BTC will be worth $400,000 in the near future, although it is very difficult to pinpoint an exact timeline for such a course of events.
Unlike what most people may think, Yusko has some valid arguments as to why this price makes sense. He considers Bitcoin easy to transport, easier to divide, and its essential qualities are superior to gold. A rather interesting look at things. While comparisons between Bitcoin and gold have been made several times in the past, it still feels like comparing apples and oranges in many different ways.
John McAfee Targets a Wide Price Area ($500,000+)
In the world of cryptocurrency, the name John McAfee has become synonymous with interesting Bitcoin price predictions. Over the past few years, John has pointed at some potential price targets which might not necessarily make sense to the average person on the street. In 2017, he claimed Bitcoin would hit $500,000 by 2020. There is still plenty of work to be done prior to hitting this target in a convincing manner.
In the same year, he changed that price target by quite a margin. Rather than settling for $500,000 or bringing the expected price level down slightly, McAfee doubled down on his claim of how “maths are often wrong”. As such, he sees Bitcoin hit $1,000,000 by the end of 2020. Again, it is a potential price target, albeit not necessarily an achievable one by any means. If either target would come into play by that time, the markets will look very different in many different ways.
Joe Davis Expects a Drop to $0
Whereas most experts have predicted somewhat achievable future Bitcoin values, Joe Davis remains convinced the world’s leading cryptocurrency only head in one direction. In 2018, the Vanguard Group senior economist boldly stated how every Bitcoin will go to a value of zero dollars. It is not the first time such a bearish prediction comes to be, but one has to wonder how this trend would shape up exactly.
For Davis, it is the only logical course of action. Bitcoin still fails to meet the criteria of a currency, in his opinion. Additionally, he considers it a dubious medium of exchange and lauds the volatility associated with Bitcoin trading. All of these arguments seem to make sense on paper, yet it seems the current market trend openly disagrees with this particular prediction.
Special Mention: Peter Brandt and the $50,000 Target
On the surface, there is nothing special about Peter Brandt expecting Bitcoin to hit $50,000 fairly soon. It is a target that is well within range of the possibilities Especially now that the bottom has been found several months ago, there is plenty of room for improvements in the price department. A $50,000 value would require the previous all-time high to be more than doubled, but stranger things have happened in this volatile industry.
This particular price prediction is interesting for multiple reasons. Brandt is also the individual who accurately predicted the Bitcoin price would drop by at least 84% after hitting its last all-time high. That prediction was not made in an attempt to discredit the market, but rather offer traders some perspective. As such, many people expect big things from his $50,000 Bitcoin price prediction, which is expected to materialize by April 2021 at the latest.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.
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