The recent recovery in Bitcoin’s price has become the subject of the many “bullish” conversations.
One could say that the general public is beginning to restore its faith once more , but remains hesitant when it involves buying the coin as an extended term investment.
And, while i'm not one to form bold claims for the longer term , especially when it involves Bitcoin price predictions, I do understand the favored cryptocurrency better than many of my peers.
In fact, it had been only a couple of months ago that family and friends persuaded me to sell all my holdings at a coffee 3200$ per BTC, saying that the trend is over and therefore the “worthless” coin goes to zero.
I tried to elucidate to them why this wasn't getting to happen, but they chose to not listen, saying that i will be able to regret my choice.
The same people are now buying Bitcoin in bulk at the 11.000$-12.000$ price range. The difference? Well, they finally start to know what Bitcoin is and the way it works.
For that reason, before supplying you with my solid price prediction, i will be able to plan to educate you on why i think within the way forward for Bitcoin and why i think its price is predicted to grow significantly.
I will also direct you to a couple of great resources that have lowered my HODLERs anxiety and are bound to assist you together with your buying decision.
On top of that, we collected experts opinions from financial analysts, venture capitalists and crypto veterans to offer you a far better idea about where the worth is heading within the next few years.
Why you ought to learn more about Bitcoin
The biggest reason that new investors see Bitcoin as a scary and risky investment is just thanks to a scarcity of data .Truth is, I can’t blame them…
Over the last two years, in an effort to take advantage of the expansion of the crypto market, many of us tried to form money in unethical ways, at the expense of others: phishing, scamming, fake ICOs; you name it!
As such, the typical Joe chooses to take a seat on the sidelines and watch others become wealthy, missing out on the investment opportunity of our century.
I often imagine what Joe (and every “Joe” during this case) would do if he understood Bitcoin’s potential and functionality.
If you, or anyone in your family, are still considering whether or not Bitcoin may be a good investment, then this post is strictly what you've got been trying to find .
By the top of this blog post, you'll finally have a far better understanding of what Bitcoin is, how it works and why it's the simplest investment of the century.
So let’s start from the very beginning.
Bitcoin as an answer to a worldwide problem
If you're conversant in the history of bitcoin, you almost certainly know that Satoshi Nakamoto released a whitepaper with a viable solution to a long-standing problem, often mentioned because the Byzantine’s General Problem:The ability to transfer value between two parties with none intermediary, like a bank or government.
Never, within the history of the planet , has it been possible to instantly transfer value over long distances during a completely trustless way. And, with the creation of Bitcoin, there was finally a breakthrough.
The “peer-to-peer” electronic cash system, as Satoshi put it, essentially stands for the network’s ability to transfer value directly from “person-to-person”, with none involvement from third parties.
No government, no banks, and no regulators. the sole ones involved within the transfer are the sender and therefore the receiver.
Bitcoin as a digital asset
For new investors, Bitcoin also serves another function – that of a replacement asset class.New bitcoins are often mined, a bit like the other precious metals. during this case, rather than shovels and pickaxes, miners use strong computing power.
Here is that the interesting part.
What makes Bitcoin different and stronger than precious metals, is its predetermined schedule.
- There are only 21,000,000 bitcoins available for mining, 17 million of which have already been mined.
- Every four years, the quantity of bitcoin rewarded to miners is reduced in half (halved), and therefore the production of latest bitcoins is scheduled to finish by the year 2140.
Here is an illustration to offer you a far better idea:
By watching the scheduled inflation design, we already know for a incontrovertible fact that the scarcity of Bitcoin will increase as time goes by.
On top of that, the coins’ value isn't determined or altered by any third parties. It depends solely on supply vs demand, meaning that its price can go as high (or low) as someone is willing to buy it.
So why are people not buying it up in bulk?
At the time of this writing, new and experienced investors are still uncertain about the coin’s future. The nerve-wracking swings within the coin’s price can't be handled by everyone.Just imagine how you'd feel if you invested at the newest Bitcoin peak of just about $20.000 per coin, only to ascertain it tumble right down to almost $3000 in but a year’s time. Such volatile investments require a robust stomach an unshakeable faith.
I can’t help but think that being a HODLER over the past year, is perhaps the foremost stressful job one could have.
Of course, this could not be the case if you understand the potential of this new, digital asset.
Personally, I sleep great at nights. No HODLER’s anxiety here. The “aha” moment happened half a year ago once I came to a really simple and logical conclusion:
Bitcoin will, eventually, replace gold because the primary store useful .
I came to the present conclusion thanks to two undeniable facts:
- Bitcoin features a fixed supply which will never be altered. On the contrary, while we've a general idea of gold’s scarcity, new methods of mining (such as asteroid mining) could increase its supply and thus decrease its value in time.
- As a peer-to-peer network, Bitcoin is immune to censorship and regulation. this suggests that anyone can send unlimited Bitcoin to anyone he wants, without limitations. On the contrary, thanks to the physical nature of gold, exchanging the asset is harder, which makes it susceptible to government regulations.
I would strongly recommend you to read the Bullish Case for Bitcoin by Vijay Boyapati to urge a radical understanding on why Bitcoin outperforms gold as a store useful .
Waiting for subsequent market – Cryptos mainstream adoption
Up to the present moment, we've experienced several Bull and Bear markets which led to a bent of watching the worth action to seek out answers for current market movements.And while that's not inherently a nasty thing to try to to (since all Bull markets had similarities), it does take investors’ focus faraway from the large picture, which during this case is that the mainstream adoption of Bitcoin as a store useful and a medium of exchange.
The majority of investors are more focused on the coin’s price and marketcap growth, hoping for short-term profit opportunities.
But, when it involves mainstream adoption, the worth shouldn't be the first point of observation.
If you would like to urge a far better idea of the adoption rates, you'll find more answers by watching the 24-hour trading volume over time.
This metric indicates the entire amount of Bitcoin that was traded during a 24-hour window.
Simply by watching the image above, one can observe that the general trading volume in 2019 was much above that of 2017, albeit the worth barely reached half it’s latest peak.
To give you a far better idea of where we are standing immediately , consider the following:
- In the month of December 2017, the month of Bitcoin’s all-time high, the 24-hour trading volume reached a mean of 11.34 Billion.
- In the month of June 2019, the typical 24-hour trading volume of Bitcoin reached 22.97 Billion.
Overall, the rise in volume has quite doubled since Bitcoin’s latest peak. This is undeniable proof that, slowly but steadily, more people are introduced to Bitcoin trading (a.k.a. mainstream adoption).
What else must happen until the inevitable next bull market?
Here is what i think must happen to finally enter the new market everyone has been so patiently waiting for:Exposure through (social) media
This phase has already started. Numerous celebrities are now promoting Bitcoin (whether during a positive or negative light). Even the president of the us , Donald Trump, decided to tweet about Bitcoin recently.
I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity….
— Donald J. Trump (@realDonaldTrump) July 12, 2019
With more media exposure, we'll once more experience an increased interest, very similar to the one we witnessed during 2017.
In fact, we will already see a rise in search popularity for the term “bitcoin”, by watching Google Trends:
Eventually, once Bitcoin’s price grows beyond its previous all-time high, we'll once more experience a “bitcoin craze” because of the increased media attention.
Patience from current investors
If you're currently holding some Bitcoin, you would like to understand that you simply are still very early within the game.In time, the private sector will accept Bitcoin both as a sort of payment (e.g. Retail payments) and as a store useful . once more , this may become more prevalent when Bitcoin surpasses its previous peak price.
Nations start to accumulate Bitcoin as a part of their foreign currency reserves
Currently, thanks to the coin’s low market cap ($200B), this possibility seems somewhat unlikely. But consider this; because the private sector’s interest increases and therefore the total market comes closer thereto of gold, it'll simply become too scarce for nations to ignore it. it's at that time that Bitcoin will achieve, as Vijay Boyapati puts it, geopolitical significance.
10/ Very few people correctly anticipate how high the market will go and most will be shocked by the final peak. This is the bull market when #Bitcoin achieves geopolitical significance, so everyone will be watching. The feeding frenzy may be like nothing we’ve ever seen.
— Vijay Boyapati (@real_vijay) June 20, 2019
What do the experts say?
Before concluding this Bitcoin price prediction post, i made a decision to also quote some expert opinions on the longer term of Bitcoin.I will also add some context to undertake and provide you with a more complete image of what the crypto market may appear as if within the future. So, what do experts believe the longer term of Bitcoin price in 2020 and beyond?
1. Anthony Pompliano – $100.000
Anthony Pompliano, also referred to as Pomp on Twitter, is that the co-founder of crypto asset management firm Morgan Creek Digital Assets. He rightfully predicted that Bitcoin would fall to the $3000 area before climbing copy to $10.000.So, what does Anthony Pompliano consider the short term future? consistent with him, one bitcoin are going to be valued at $100,000 before the top of 2021.
2. Naeem Aslam – $60.000 to $100.000
Naeem Aslam, Chief analyst at ThinkMarkets, mentioned during a recent interview that, within the next market , Bitcoin will slowly climb to the $60.000-$100.000 area.This, he said, will only happen if Bitcoin remains above its 242 day-average and after it breaks its previous all-time high. Furthermore, he takes on a more conservative stance and doesn't give us a Bitcoin price prediction for 2020.
3. Max Keiser – $100.000
Max Keiser is an American broadcaster, filmmaker and Bitcoin maximalist. consistent with him, one among the main factors which will influence the eventual increase is that the move of millenials from gold and other traditional assets towards Bitcoin.As for his price prediction – Max thinks we'll soon surpass $100.000 per BTC.
4. John McAffee – $1.000.000
You have probably heard about this one before. John McAffee, founding father of McAffee Antivirus and controversial figure within the crypto community has made a public haul for his Bitcoin price prediction in 2020, claiming that one coin are going to be worth $1,000,000 before the top of the year.No matter how unrealistic this might sound , he has placed a stimulating bet if things go sideways.
5. Thomas Lee – $40.000
Fundstrat’s Thomas Lee outlined within the latest consensus believes that Bitcoin will hit $40.000 by the top of 2019. While that didn't compute for him, unfortunately, we do accept as true with him that the recovery of Bitcoin is inevitable within the future .6. Mark Yusko – $75.000
Morgan Creek’s CEO Mark Yusko went public stating that, by the top of 2020, Bitcoin are going to be worth $75.000. within the future , he believes that the favored cryptocurrency will reach a worth of $400,000 per coin.7. Tim Draper – $250.000
Investor and speculator Tim Draper doubled down on his prediction that Bitcoin will eventually reach a price of $250,000 (before the top of 2022), during a discussion at the online Summit conference of Lisbon on Nov. 6th 2018.
Bitcoin price prediction for subsequent market – $100.000
Let me begin by saying that i'm not a financial advisor. what's stated during this article is merely my personal opinion.That being said, I (and most of the experts listed above) strongly believe that a $100.000 Bitcoin will, eventually, become a reality. And it'll happen even before nations plan to step within the game.
It is likely that, once we reach geopolitical significance, Bitcoin’s value are going to be above we could ever imagine. More on this during a bit.
For now, let’s stay focused on our target: 1 bitcoin = $100.000
With the present market conditions and therefore the events that await us within the upcoming future, when can we expect to ascertain a 6-figure Bitcoin?
My guess is, before the top of 2021. And here is why:
- Based on historical patterns, Bitcoin has always seen a big value increase within the year following the halving of its mining rewards. during this case, subsequent halving is predicted to occur in 2020.
- With Facebook’s plans to release its very own cryptocurrency, Libra, and therefore the increased interest from the media, Bitcoin will gain more exposure than it's ever had before.
- In time, cryptocurrency exchanges will make it tons easier for brand spanking new investors of all backgrounds to enter the market and buy their first cryptocurrency.
- As the daily trading volume keeps increasing, liquidity will increase with it, making it easier for institutional investors to step within the market.
What will happen once Bitcoin reaches the marketcap of Gold?
Slowly but surely, we will expect to ascertain many of us turning from Gold to Bitcoin. this may happen thanks to its decentralized nature, fixed supply and digital form, which makes it easy to transfer.As this starts to happen, Bitcoin will slowly grow to become a Trillion dollar asset. As such, it'll cause a replacement high within the coin’s value ($47,619).
And that are going to be just the start . the present marketcap of gold is valued at approximately $7.8 Trillion. this is often about 39 times above the present marketcap of Bitcoin.
If Bitcoin were to succeed in (and hopefully exceed) the present valuation of Gold, we'll see one Bitcoin being worth a minimum of $380.000.
Can you imagine what your current holdings are going to be worth if Bitcoin manages to surpass gold’s total market cap? While we can’t say that this is often a sensible scenario for the expected 2020 Bitcoin price, we do believe it'll become true some day.
How to prepare accordingly
While we are expecting a replacement market , there are three main areas where all investors should improve upon. Mastering those will set you during a favorable place and prepare you to form better decisions:Learn more about Bitcoin
I would strongly recommend you to require a glance at the subsequent resources. These will assist you understand how Bitcoin works and keep you informed about the present conditions of the market.- Read Mastering Bitcoin by Andreas Antonopoulos to urge an honest introduction of Bitcoin and its functions.
- Read about the History of Bitcoin, to urge a far better idea of the cryptocurrency’s market cycles.
- Join social media groups like Crypto Coin Trader (Facebook) and r/btc (Reddit) so as to remain informed with the newest news.
- Join Anthony Pompliano’s Off The Chain Newsletter.
- Read You Don’t Understand Bitcoin Because you think that Money Is Real by Maria Bustillos.
- And, once more , confirm you read the Bullish Case for Bitcoin by Vijay Boyapati.
Practice your patience
This goes hand in hand with having faith. it's an honest idea to start out by setting a target asking price for your Bitcoin holdings. Then, don't touch them unless your goal is achieved.This sounds tons easier than it actually is, since you'll often be tempted to sell your coins supported external influences.
Which brings us to the third, and most vital point for all new investors.
Develop emotional intelligence
Emotional intelligence is that the ability to handle your emotions during situations during which your rational way of thinking is threatened by external influences.So, what are you able to do to practice emotional intelligence when it involves Bitcoin investments? Start by considering the following:
- Try to be mindful and conscious of this moment. If fear arises inside you, ask yourself where it comes from and why you are feeling it.
- Before any hastened action, consider whether it's supported logic or external influences. If it's the latter, hold off and revisit the action at a later point in time.
- When facing a choice , consider the future . Which option will presumably cause your required life outcome? Write down the pros and cons of every option and make a choice .
Closing remarks
While this article has been inherently positive and somewhat “unrealistic” for those who are not very familiar with Bitcoin, it might be good to remember that Satoshi’s vision for Bitcoin was not simply to replace gold with a better, digital version of it.What the creator of Bitcoin really saw in Bitcoin was the possibility of it being used as a global currency, eventually becoming the primary payment system for the whole world.
If that would ever happen, Bitcoin’s marketcap would be equal to the value of all the wealth of our world. Such an event would take Bitcoin to unimaginable heights.
Is this a realistic possibility? In my honest opinion, I don’t think so. At least not in our generation.
But it does make a $7.8 Trillion marketcap look like an easy goal to achieve within the next decade.
Which brings us back to our very conservative $100.000 Bitcoin price prediction.
As mentioned above, Bitcoin does not even need to reach geopolitical significance to hit such targets.
All it needs to achieve this goal is an increase in market participation of retail and institutional investors. This, in combination with patience and emotional intelligence from investors, will be enough.
We hope you now understand why a price target of $100.000 is actually a very real possibility.
If you have any questions or other remarks, feel free to leave a comment below.
