If there is one question that cryptocurrency enthusiasts can answer accurately, then it certainly would not be the future price value of Bitcoin.
While some are conservative regarding how much Bitcoin would be worth both in the long and short term, some are bullish and only expect that the price will only increase from this point.
$20,000, $50,000 $100,000 or $1000?
In this article, we recall some of the most bullish Bitcoin price predictions by both industry participants and some of the cryptocurrency’s biggest investors. Which of them are you placing your bet with?
Name and Position — Tom Lee (Fundstrat Global Advisors co-founder and a financial market analyst).
Prediction — $40,000 Within a few months.
Near the start of the Bitcoin resurgence this year, precisely when the cryptocurrency traded just above $5,000, Tom Lee told CNBC that Bitcoin would hit new highs in 2019. Lee even mentioned a $14,000 target before saying when Bitcoin hit $9000, that a $40k price will be possible as soon as the fear of missing out (FOMO) sets in from both retail and institutional investors.
Name and Position — Mike Novogratz (Galaxy Digital CEO)
Prediction — $20,000 Before the end of 2019
Mike Novogratz is another popular Bitcoin bull who sees a new all-time high for the cryptocurrency happening within the next few months. November 2018, the Financial Times quoted Novogratz as saying,
“By the end of the first quarter we will take out $10,000, and after that, we will go back to new highs – to $20,000 or more.”
In a more recent interview with CNBC, he also doubled down on that valuation and even went further to suggest that the chances of Bitcoin dropping below $5,000 look very slim at the moment.
Regarding the possibility of such an ugly prospect, Novogratz said,
“I don't think so. If it goes below $8,500, I will get nervous. If it goes below $6,000, I will get really nervous”.
Name and Position — Anthony Pompliano (Co-founder Morgan Creek Digital Assets)
Prediction — $100,000 by the end of 2021
Anthony Pompliano, better known as the ‘Pomp’ on Twitter said in a newsletter sent to subscribers of the “Off The Chain” Podcast that Bitcoin will hit the price of $100,000 by the end of 2021.
Pomp made the call based on worsening global economic conditions as well the halving of Bitcoin block rewards for miners, which is now less than 250 days away.
He also factored that investors will likely to take profits along the way, creating bearish markets along the way to his $100,000 prediction.
Name and Position — Tim Draper (Billionaire Venture Capitalist)
Prediction — $250,000 by 2022
Tim Draper is one of the world’s first billionaire who admits to moving his dollars into Bitcoin because the cryptocurrency has more value than fiat currency that is usually tied to political force.
Bitcoin, according to Draper, is frictionless and global, putting it in excellent stead to reach a valuation of $250,000 within the next four years or so.
Well, Draper made that prediction during the Bitcoin bear market in 2018, meaning we now have three years or so for his prediction to come through.
Name and Position — John McAfee (Cybersecurity Expert and U.S Presidential Aspirant :-)
Prediction — $1 Million by 2020
Well, talking about bullish Bitcoin predictions, John McAfee’s $1 million by 2020 bet has the lowest odds of actually coming through, unless Bitcoin pulls off a stunning 8600% yield within the next sixteen months.
Those figures though as much as you think are impossible, are not for John McAfee who had said he would eat his private part on national television if the prediction fails to come through.
Will the wish of the McAfee Antivirus lord who has unsurprisingly spent more time in hiding than under the spotlight find fulfillment? Will Bitcoin live long enough to meet all these bullish predictions?
There’s only one way to find out — Time.