Between late September and early October, a panel of 50 industry experts shared their thoughts on how Bitcoin will perform over the next ten years. The article will tell you why they believe the top cryptocurrency will be worth $ 71,415 at the end of 2021 before rising to $ 249,578 in 2025 and why it will be zero by 2030.
Bitcoin will peak at $ 80,021 in 2021, before ending the year at $ 71,415, according to a panel of 50 fintech experts. This is about 8% higher than the council’s year-end forecast in July and 37% higher than the December 2020 forecast.
The long-term predictions for BTC are even more optimistic. By the end of 2025 and 2030, these experts predict that the price of BTC will soar to an average of $ 249,578 and $ 5,237,082, respectively. While the above levels are well above current prices, the forecast for the end of 2025 is around 20% below the Council’s forecast in July.
| Predicted time | End of 2021 | End of 2025 | End of 2030 |
| 12/2020 | $ 51,951 | $ 197,553 | |
| April 2021 | $ 94,967 | $ 360,179 | |
| 7/2021 | $ 66,284 | $ 318,417 | $ 4,287,591 |
| 10/2021 | $ 71,415 | $ 249,578 | $ 5,237,082 |
Several members, including CoinFlip founder and senior advisor Daniel Polotsky, believe Bitcoin will end the year at $ 80,000. Accordingly, their optimistic forecast is that BTC will gradually phase out gold as a store of value.
Polotsky claims:
“As Bitcoin continues to mature and increase in value, ease of use, availability and trust, it will move less like a growth stock and more like a store of value. At some point, Bitcoin will usurp Gold as the king of safe havens, and hopefully that shift will happen by the end of the decade. ”
Finder founder Fred Schebesta believes BTC will end the year (EOY) around $ 87,000 thanks to the hype.
“Bitcoin is hot right now. NFT is driving prices up, institutional demand is high, the US government is not banning it, and everyone is participating. I am firmly convinced that it will continue to rise. ”
With an EOY forecast of $ 70,000, First Digital Trust COO Gunnar Jaerv also agrees with Schebesta that the crypto king will continue to rise with the support of the market.
“The bull run is different this year. More innovation, more regulatory engagement, and ecosystem and infrastructure problems are solved pretty well. ”
According to 46% of members, now is the time to buy BTC and 46% of others say it is time to play. In contrast, only 8% recommended it was time to sell.
Martin Fröhler, CEO of Morpher, said it was time to buy BTC because of the “macro environment of central banks printing money at will, strong on-chain fundamentals, institutional users and funds”. Driving BTC to new highs in 2021. ”
BuyUcoin’s chief marketing officer, Dhananjay Lochave, is a Pro-Hodl member but added that some altcoins could offer higher returns than BTC in the future.
“The current edition is sufficient for the Hodl market and even for daily retail. But with the deficit ahead, altcoins have a better future than bitcoin. If you buy Bitcoin now, you will get a maximum profit of 100% compared to other altcoins that grow over 200%. ”
Meanwhile, University of Canberra Senior Lecturer John Hawkins is in the minority who believe it is time to sell BTC. According to Hawkins, BTC is just a speculative bubble and says the price will collapse at some point.
“The crash in Bitcoin price could be due to the disillusionment of all private cryptocurrencies as central bank digital currencies prove they are the future of crypto, or maybe just because ETH is seen as better cryptocurrencies.”
An ETF is an investment that allows you to track the price of an underlying asset or index without having to hold the actual asset itself. As for Bitcoin, an ETF gives investors the ability to invest and speculate on the price without buying real BTC, which is a technical hurdle for some investors. Successfully implemented ETFs can significantly increase market size by exposing BTC to mutual funds that are currently restricted from buying digital currencies.
Some panelists such as Unblocked founder Helen Disney, CoreLedger AG CEO Johannes Schweifer and Finder’s global crypto editor Keegan Francis advocated a BTC ETF as it could provide better access to traditional investors.
However, the University of Liverpool’s law professor is one of those who is not in favor of an ETF as it would be inconsistent with crypto basics.
“It seems to be a convenient way for inexperienced users to enter the cryptocurrency market. It’s basically a way for the financial industry to make money. If a person believes in cryptocurrencies, they should develop their own investment strategy instead of simply investing in an ETF. ”
Bitcoin is an open source project and therefore does not have an official roadmap. However, there are some major challenges and developments ahead for Bitcoin.
Bitcoin’s next big milestone is the Taproot upgrade, the first major technical update in almost four years. Taproot is slated to launch in November 2021 and introduce smart contracts into the network. Smart contracts are computer codes that allow applications to run on a blockchain network such as Bitcoin. This is particularly noteworthy given that Ethereum, the second largest cryptocurrency by market capitalization and arguably the largest by usage, is a smart contract platform while Bitcoin is not yet.
Taproot will also change the way transactions work to introduce an element of privacy and improve overall efficiency.
Another well-known “upgrade” is the Lightning Network. Lightning Network is designed to solve the problems of slow transaction speeds and high fees in the Bitcoin network. It is a payment network that sits on top of the Bitcoin blockchain and can greatly affect network usability. However, it is still not widely accepted, so its effectiveness is not high. As a result, the Lightning Network is more of an infrastructure support than an upgrade of the actual Bitcoin blockchain itself.
The cryptocurrency sector is gradually becoming more crowded and competitive. When thinking about buying bitcoin, it is important to be aware of the impact (both positive and negative) of your competitors’ actions on the price of bitcoin. Here are some of the main competitors:
– Ethereum: Introduced in 2014, Ethereum is a blockchain that developers can use to create and deploy applications designed as the decentralized financial layer of the internet. ETH is used to pay transaction and service fees, which has long been the second largest cryptocurrency by market capitalization.
– Ripple: Ripple offers both payment networks (RippleNet) and cryptocurrency (XRP) with the mission to enable banks and payment providers to send transactions quickly and securely around the world. XRP is the sixth largest cryptocurrency by market capitalization.
Bitcoin Cash: BCH was born in August 2017 after the Bitcoin hard fork and was developed to enable faster and cheaper transactions than Bitcoin.
– Litecoin: Often referred to as “Silver versus Gold is Bitcoin”, Litecoin was founded in 2011 and aims to provide faster transactions than Bitcoin. LTC is currently the 15th largest cryptocurrency by market capitalization.
– Dogecoin: Started as a joke, but Dogecoin successfully introduced the term “meme coin” to the world. Although DOGE was launched with the goal of claiming that anyone could create a cryptocurrency, DOGE has a “huge,” loyal cult following, making it unique by market cap.
If you are considering buying Bitcoin, the top points to keep in mind are to do your own research and understand all of the risks involved. While this digital currency has brought significant returns to its early adopters, there are no guarantees that it will continue to grow in the future.
If cryptocurrencies are still making a big splash in the mainstream and gaining wide acceptance not only by users but also by governments around the world, it means that good things are waiting for Bitcoin. And if the blockchain’s scalability problems can be successfully overcome, the potential for future growth is inevitable.
However, let’s not forget that the crypto space is increasingly crowded and Bitcoin will inevitably face many threats to overthrow the title of the world’s leading cryptocurrency from a multitude of well-known competitors. , professionally supported. Follow us in space to see how it all unfolds.
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Minh Anh
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Grand Cayman, Cayman Islands, 22nd November 2024, Chainwire
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