What Is the Future of Bitcoin? Latest Forecasts from the Experts (Updated 2023)
The INX Digital Company inc. | May 11, 2022
13 min read
What are the expectations for the future of Bitcoin? Amongst the strongest believers in the future of Bitcoin are industry leaders like Mark Cuban who used to disparage Bitcoin once upon a time. Bitcoin is the giant of the financial cryptocurrency market, and it continues to draw more investors, making the traditional financial space sit up and take notice. Are you thinking about investing in Bitcoin? Perhaps you should consider the current state of Bitcoin as well as the opinions of industry leaders.
The Current State of Bitcoin
Cryptocurrency remains a highly volatile and risky market that operates much differently from any other financial product. It took Bitcoin 8 years to go from an idea to an incredible peak of $19,650.01 in December 2017, which opened the eyes of the masses to its potential. However, this high was followed by a dramatic crash which saw Bitcoin’s price drop below $4,000 throughout much of 2018.
The market would pick up again, reaching an all-time high of $67,000 in November 2021.Unfortunately, this amount proved challenging to maintain. With the interest rates being raised in the US, Bitcoin has been replicating the movement of the NYSE and has recently seen intense volatility. In addition, the collapse of major players in the cryptocurrency space caused a major shock to Bitcoin.
At the end of 2022, the biggest cryptocurrency by market capitalization ended at $17,000 per coin. With a brief understanding of the history of Bitcoin, it’s time to look at the future of Bitcoin prospects. What can people expect from the crypto economy in 2022? Various industry professionals have given predictions of the future movement of Bitcoin based on their market experience.
Bitcoin chart by TradingView
Bitcoin Predictions 2030: What The Experts Say About This Decade
Providing a thorough analysis of Bitcoin based on estimates is a challenging game to play. With the extreme volatility and uncertainty, no one, not even an “expert,” can provide specific and accurate forecasts about the future of Bitcoin. However, some professionals do have a slight ability to predict positive growth trends.
Here’s a list of leading experts and their predictions for the future of Bitcoin:
Bobby Lee – The first exchange (BTC China) CEO in China, Bobby Lee believes Bitcoin can reach $1,000,000 in 20 years. His other predictions include the coin amounting to $330,000 in 2021 and falling to $41,000 in 2023. Lee’s predictions proved to be c
orrect for 2020; hence, you may want to take note of what he has to say.
Anthony Pompliano – This respected and well-known crypto enthusiast predicts a price of $100,000 in 2021. Pompliano is the founder of Morgan Creek Digital, a user-friendly, cryptocurrency asset management organization.
Mark Yusko – This former Bitcoin skeptic now predicts a $500,000 price for the digital coin in 2030. Yusko also stated that he believes Bitcoin can reach gold equivalence in the years to come.
John Pfeffer – The Pfeffer Capital partner predicts a price of $700,000 in 2030, which he backs up with mathematical calculations.
Citibank – This 2021 prognosis, from the American multinational financial services corporation and investment bank, sees Bitcoin reaching $120,000 in 2021. Like many other professionals, they are positive about what Bitcoin has to offer in the future.
Philip Swift – While Swift believes that this currency is an early asset with a high number of associated risks, he has Bitcoin forecasts between the range of $92,000 and $137,000 in 2023. Additionally, Philip based his prediction on previous cycles that have played out in the crypto market regarding this popular coin.
Is There a Possibility of Bitcoin Disappearing?
Most likely, you do not have to worry about the disappearance of Bitcoin. Future price predictions are promising, and it is an established network that stays in place as long as investors utilize the platform. The only chance of this network disappearing is if every miner stopped transacting via the system, which is highly unlikely considering the Bitcoin price forecasts. People have invested billions of dollars in the infrastructure of Bitcoin, so it appears it is here to stay.
However, that being said, one risk potential investors should note is even though the system would not disappear, the value of cryptocurrency could fall to zero at any point in the Bitcoin cash future, meaning it could potentially be worthless one day, like many other volatile financial products.
The Bottom Line
Is Bitcoin the future? As you have seen, the estimated prices and predictions for the future of Bitcoin from a cross-section of the industry appear very bullish. While we cannot specifically say what the years ahead may offer regarding this cryptocurrency, one thing is becoming more and more certain – the crypto market and blockchain technology have the potential to redefine financial products as we know them in the near future.
People may save, earn, engage, and spend in Bitcoin trading at their own free will. Advanced developments and applications are already being created and implemented to make this even more accessible. Here’s to agreeing that Bitcoin looks like the future!
The INX Digital Company inc. May 11, 2022
The INX Digital Company inc. is an expert in the field of finance, crypto and digital securities.
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