Bitcoin has had a very rough year in 2018. The cryptocurrency was skyrocketing when the year began and it saw its price plummet from almost $20,000 USD to under $6,000 in only six months. Even with the price drop, some specialists are still very enthusiastic about Bitcoin, though. Here are five experts that believe in the potential of the token.
The CEO and founder of Social Capital, Chamath Palihapitiya has predicted that the price of Bitcoin would be equal to $1,000,000 USD in 20 years. Also, he said that Bitcoin is a great form of insurance and has been convinced that Bitcoin will surpass the value of gold as one of the best assets to invest in.
Another specialist that believes in Bitcoin is Tom Lee, Fundstrat Global Advisor. He recently described the token as a “great store of value” and told the media that the token would be worth $20,000 USD by end of 2018.
The founder of BKCM LLC, Brian Kelly, has told the media that both Bitcoin and Ethereum are excellent currencies. He favors Ethereum, though.
Ran Neu-Net is the founder and CEO of OnChain Capital, a blockchain financial company. Obviously, he has a stake in the market, but he stated that Bitcoin is in its early stages and that we are not even in the start of the crypto future, also comparing Bitcoin to digital gold.
There is one Bitcoin bear among our list, though, Charlie Munger from Berkshire Hathaway. He affirmed on more than one occasion that Bitcoin is worthless artificial gold and that it does not hold real value, only being a speculative asset that will not be really profitable on the long term.
The Future Of Bitcoin
The future is, unfortunately, as clear as these predictions. We simply do not know whether Bitcoin will keep going down until another token takes its place or if it will remain at the top. While it is truth that there is a lot of speculation over Bitcoin in the crypto market, the blockchain technology is a valuable asset that will become important in the future.
Will Bitcoin be worth a million dollars? Is it fool’s gold? Only time will tell, but keep following our blog for updates on the situation.