Could Bitcoin (BTC) Price Reach $250,000 In The Near Future? Crypto Pioneer Mark Jeffrey Says Yes
Could Bitcoin Reach $250,000 In The Near Future?
Although Bitcoin (BTC) has been in a bear trend during the last year, there are some experts that believe that the most popular digital asset could reach new highs. However, we are not talking about values close to $20,000 – Bitcoin’s all-time high.
Mark Jeffrey, the author of the crypto-related book “Bitcoin Explained Simply”, expects the digital asset to keep growing up to $250,000 in the future. That represents a price increase of 6719% from the current levels or 1150% from its all-time high.
During a conversation with The Next Billion Seconds’ podcast, he said that Bitcoin is very much like the dot com boom. The bullish momentum experienced by virtual currencies in 2017 can be compared to the bull run seen in the dot-com market 19 years ago.
He commented about the crypto market:
“So in the dot com boom and bust cycle, it was about for and half years, maybe five years. In the crypto world, it was about a year and a half. So it was a lot faster.”
He went on saying that there are different cycles related to virtual currencies. In the future, we are going to experience a third moment in which Bitcoin would reach new all-time highs. Nonetheless, this third cycle could take some years.
“[…] But this is not the end of the story. This is the middle part. This is the second act. The third act is the return of the Jedi and we’re not there yet.”
Jeffrey seems very bullish about this third cycle. He believes that Bitcoin will be reaching $250,000 in the future. Unfortunately, he did not provide the market with a specific timeline. If we have a look at the graphics, there are several experts and analysts that think that during the next bull run Bitcoin can reach such large values.
There are many other experts in the crypto space that are bullish about the most popular cryptocurrency. One of them is Tim Draper, that said that Bitcoin will reach $250,000. Draper is a recognized Bitcoin investor.
Another Twitter analyst, Flib FLib said that a price of $333,000 per Bitcoin could also be logical for this virtual currency.
Perhaps the most bullish prediction was made by John McAfee, who said that Bitcoin is going to be traded around $1,000,000 before 2021. That means that Bitcoin would have to increase more than 27,000%.
At the time of writing this article, Bitcoin is being traded around $3,670 and it has a market capitalization of $64.35 billion.