Bitcoin Price Prediction: In A Single Decade, The Price of BTC Went 70,000% Up, Can It Go Higher?
Despite the price drops that happened last year, the price of BTC continues to be drastically higher than it was two years ago. When you consider the last 24 months, the truth is that the price of the token has moved from $1,200 to $3,900 USD, a rally of 3.25 times, which would be impressive for any asset.
When you consider that the S&P 500 index has only gained 10% last year and it is considered a great stock, Bitcoin is way, way better. However, when you see its performance since it was launched, Bitcoin is definitely the best asset of the decade.
Bitcoin Outperformed Any Other IPO
According to reports made by MarketWatch, if you invested $100 USD in the stocks of several important companies during their Initial Public Offerings (IPOs), you would not make as much profit as you would if had chosen Bitcoin instead.
Companies like Apple, Google and Nike would have brought very interesting returns for investors, but what if you bought Bitcoin went it was being sold by measly five cents? You would be rich now.
If you invested only $100 USD back then, you would have $7,000,000 USD now, a gain of 70,000%. When investors are struggling to get at least %10 for their investments, these numbers are insane.
From all the companies analyzed by MarketWatch, which included heavy-hitters like Alphabet Inc. (Google), Apple and Amazon, only Nike actually brought returns of 60,000%, which was near Bitcoin, but you have to take into account that the IPO of the company was made in 1980 and Bitcoin started to be sold in 2009.
This means that in ten years Bitcoin was able to get a return on investment of incredible $70,000% while Nike took almost four decades to reach “only” 60,000% and it was still an excellent investment.
Could Bitcoin Go Even Higher? Yes
Despite the fact that it is surely riskier to invest in a volatile market like Bitcoin, the potential for gains is huge. And you have to take into account that there is definitely space for growth yet. Bitcoin is very well known for losing a lot of its price and then spiking up again, which has a good chance of happening once more.
Anthony Pompliano, for instance, has talked about it recently and claimed that Bitcoin has outperformed any other asset in the last 10 years and that this trend will certainly continue in time. According to him, even a 1% BTC and 99% cash portfolio would beat S&P 500 over the last ten years, which just proved how powerful Bitcoin is.
A lot of people in the industry are projecting that the stocks market will stop to be such a good investment when compared to technologies like Bitcoin because the asset grows in price whenever its adoption go up and there is still plenty of space for that to happen.
This could skyrocket Bitcoin to the moon and some people even believe that it could reach a six-digit figure. Even if this does not happen, though, if Bitcoin’s price went back to $20,000 USD, it would represent an increase of 500%, which would take you 50 years investing in S&P 500.
Nobody knows for sure what will happen, but BTC is one of the best bets out there.