HOW HIGH CAN BITCOIN GO
Have you ever wonder why Bitcoin Soaring higher, and the factors responsible for it? Bitcoin is similar to a social network, Lee said. The more bitcoin is engaged, the higher its value will rise. Bitcoin, like all other cryptocurrencies, is a very volatile digital currency. It has been extensively discussed in this article how bitcoin is raised. As an audience, you will have a better understanding on how Bitcoin rise.
Bitcoin is the only crypto that has gained worldwide awareness, attention, and adoption. Individuals have embraced it, organizations, etc. as payment gateways all over the world.
Prediction made on Bitcoin Price:
As the market witness volatile conditions, there is a need to back up the forecast with the market experts, who are blessed with sound mind and heart of the cryptocurrency market. These are some of the famous predictions of Bitcoin:
1. Tom Lee Bitcoin Price Prediction
A known strategist and Co-founder of Fundstrat was reported to have said that the price of cryptocurrency directly correlates with the mining cost of exactly 1 BTC. He opined that BTC would grow as he depends on more institutional investors taking on Bitcoin and a constant increase in the Bitcoin user base. Just of recent, he said in an interview that remarks credited to US President Trump could trigger a bull run.
2. Sam Doctor Bitcoin Price Prediction
Recently, Sam Doctor tweeted that that mining costs would eventually reduce the BTC/USD price, and the breakeven cost growth can increase the amount of Bitcoin
3. Fran Strajnar Bitcoin Price Prediction
Fran Strajnar suggests a very optimistic prediction, where he believes that the rate of adoption is directly correlating to the price increase. The higher the adoption rate, the higher the growth in value.
4. Bobby Lee Bitcoin Price Prediction Bobby Lee, CEO of China’s first exchange- BTCC was quoted to have said that it would take 20 years for BTC to reach $1 million. But right now, his prediction has changed. Bobby Lee, the co-founder of BTCC (Hong Kong-based Bitcoin exchange) and the brother of Charlie Lee, Litecoin creator, gave a very high bullish prediction, though, started with bearish. He believes that Bitcoin might attain its all-time low in January 2019, attaining below $2500 and that Bitcoin might rise from late 2020 and could attain $333,000 in 2021 and then go down to $41,000 in 2023. He emphasized that the market capital might get to about $7 trillion, which may surpass the market cap of gold. He even stated that Bitcoin would eventually lead to price stability and global liquidity in years to come.
In any case, what’s undeniable is that the price of Bitcoin will continue to rise, regardless of critics’ assertion that cryptocurrencies are just a fad or “bubble.” however, Lee highlighted the basic but oft-forgotten fact. “People forget the gold standard on the dollar and its volatility for four years were the same as that of bitcoin". This statement is the current discussion of people about bitcoin's volatility.
Cryptocurrency price predictions are complicated to make, and it’s a virtual certainty that one or more of the above folks have hit the nail on the head.
You need to trade bitcoin with trading software, to generate a very significant benefit. Primarily when it is being used to monitor activities going on, it’s believed that Bitcoin will soar up as per the predictions stated above. Numerous reasons led to a fall in the price of Bitcoins, such as used for illicit acts and other past mishaps like hacking and thefts. Pros outperformed the cons. Hence Bitcoin is the market leader, bagging the first position and maintaining it.