During 2017 we have seen an important price increase in most of the cryptocurrencies in the market. Bitcoin started the last year under $1,000 dollars, and it reached $20,000 dollars in December.
Since then, the virtual currency market has been in a bear trend. Very few virtual currencies were able to recover from it. But the perspectives for 2018 and the next years remain very positive, according to some of the most respected experts in the crypto world.
John McAfee, the important investor and former candidate to the U.S. presidency said that Bitcoin will reach new highs in the next years. He wrote that at the end of 2020 Bitcoin would be worth $1 million dollars.
This are very bullish comments. And certainly, he has taken the riskiest bet among the different experts in the matter. According to his model assumptions, BTC accelerated much faster than what he initially thought.
Another important investor, Tim Draper, explained that Bitcoin will be worth over $250,000 in less than four years from now. Which is not a modest prediction.
The London-based investor, John Pfeffer, which has not been involved in the virtual currency market during the last year, made an important price prediction based on the fact that some important developments that would take place during the next years.
He explained that Bitcoin could reach $90,00 dollars this year and in the next ones it could even reach $700,000 dollars.
One of the two Winklevoss brothers, Mr. Cameron, said that bitcoin could be worth 40 times its current value. In order to have such conclusion, he compared the market capitalization of gold with the one of Bitcoin.
He said during an interview with CNBC:
“So if you look at a $100 billion market cap today, now last week it might have been more like 200, so it’s actually a buying opportunity, we think that there’s a potential appreciation of 30 to 40 times because you look at the gold market today, it’s a $7 trillion market. And so a lot of people are starting to see that, they recognize the store of value properties.”
Thomas Lee, Managing Partner at Fundstrat Global, predicted that bitcoin could reach $90,000 until 2020. He has also explained that after the Consensus conference that took place in New York, Bitcoin price could reach new highs, something that did not happen.
Bobby Lee, board member of the BTC Foundation, has given his prediction about Bitcoin. He said that it could surpass $1 million dollars in 20 years. Yes, in 20 years. That’s a lot of time, but during this period, we could experience a $500,000 dollars Bitcoin, which is not bad at all!
Arthur Hayes, BitMEX CEO, said that Bitcoin could touch $50,000 dollars by the end of this year. But he explained that the volatility in the market should remain.
“I am a volatility trader at the end of the day. We make our money if it is volatile. If it goes up or it goes down, if you have Bill Gates calling it a fraud, then short it – I don’t care. Or if you think it is going to be one million dollars in a few months, great” Buy it, still don’t care, we just match trades.”
But… as more investors enter the market, volatility seems to be reduced. In the future, it can even be smaller. Smaller cryptocurrencies tend to be more volatile than Bitcoin, which is getting more mature as time passes.
Most of the predictions are in line. All of them predict a bitcoin that will be worth more than its last all time high. The experts have already talked, not is time for the market to show whether they were right or not.