The emergence of Bitcoin in the past few years has brought significant developments to the financial industry. Because of its distinct characteristics, Bitcoin can be used for a variety of purposes. Despite the increasing number of merchants who accept this cryptocurrency in the market, there are still many things to be done for it to become part of the mainstream financial system.
However, nobody can really forecast the future of Bitcoin in the financial community. With cryptocurrency’s volatility, the price can probably go up or down very quickly. This can make price predictions more challenging than you expect. Fortunately, with a little research, you can see some price predictions from some of the famous industry experts around the world.
Continue reading this article to learn some of the best Bitcoin trends that are coming in the future.
Bitcoin Price To Reach $250,000 Per Token In The Coming Years – Tim Draper
The American Venture Capitalist Tim Draper foresees that the price value of Bitcoin will go up to $250,000 per BTC token in the years to come. The figures you see in the price means that the cryptocurrency will have an approximately 5% market share of the entire currency market. In other words, Bitcoin will be more accessible and available for real-world usage such as trading using Software, sending money abroad, buying stuff, and many more.
Bitcoin’s Market Capitalization To Reach $15 Trillion By 2020 – John McAfee
The founder and creator of the anti-virus McAfee software, John McAfee, predicts that the price of Bitcoin will increase by up to $1 million by 2020. If this price prediction holds true in 2020, the market capitalization of Bitcoin will become $15 trillion.
For instance, the market capitalization can be determined by multiplying the total number of coins in circulation with its current market price. So, if 20 million Bitcoins are circulating in the crypto space and its current price is $20, then $100 million is the market capitalization of Bitcoin, which is also its total value. When this happens, Bitcoin will undeniably become a valuable asset that you should have.
Bitcoin Price To Value At $91,000 By 2020 – Tom Lee
The analyst from the cryptocurrency research organization Fundstrat, Tom Lee, predicts that the price value of Bitcoin in 2020 will rise to $91,000. This prediction is based on a chart analysis where Lee has considered the price movements of the coin. Since the cryptocurrency’s price is heading an upward trend, the historical data provided by the chart can tell that Bitcoin will continue to bloom in the next few years.
Bitcoin Price To Increase at $200,000 By 2020 – Fran Strajnar
CEO of Brave New Coin, Fran Strajnar, predicts that the Bitcoin price will increase to $200,000 in the year 2020. That’s because of the increasing adoption rates that the cryptocurrency enjoys from the public. With more people who purchase and use Bitcoin, its price will also appreciate, making it a more accepted digital currency in the market.
Bitcoin Developments In The Coming Years
In addition to its price value, Bitcoin continues to enjoy some developments in the real world. Because of blockchain technology, it has gained so much popularity in areas such as trade and commerce, financial services, and investments. Below are the areas in which Bitcoin is expected to move to a better direction:
- Bitcoin will become an excellent solution for people who are unable to use fiat currencies or those who don’t have trust in central banks, and those who are living in countries with an unstable currency or deteriorating economy.
- Bitcoin will have the same features, similar to banking services. More Bitcoin ATMs will be available to accommodate easy and quick withdrawal process. Also, a Bitcoin card will be issued as an alternative to the regular debit cards.
- Because of Bitcoin’s growing acceptance in the financial community, Central banks, as well as the government, will start to yield to its revolution and adoption, which is moving toward a digital currency system.
- Bitcoin’s blockchain will continue to undergo innovations to make the cryptocurrency a widely-used asset in the world such as the strengthening of the data privacy methods to protect digital information.
No doubt, Bitcoin has come a long way to bring a revolutionary development in the financial world. It has emerged as a popular digital currency used as an alternative to fiat currencies. But, despite its popularity today, there are still so many things to be done to achieve its full and widespread adoption.
Lastly, if you want to know whether Bitcoin can be an excellent financial investment, take a look at these Bitcoin trends to guide you in your decisions.
DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]