With the onset of Libra crypto by Facebook, there were many arguments on whether its an attempt to kill Bitcoin. But with the final announcement of the launch date for Bakkt, which is on September 23, 2019, the Bitcoin community and enthusiasts couldn't keep calm. Just after the news came up, Bitcoin surged by 10%, and the market enthusiasts are pretty sure that BTC is going to go bullish after its launch. For the first time in the history of the digital currencies, Bakkt will prove to be a platform offering futures contracts where buyers can expect the physical delivery of bitcoin. Even the institutional investors can now use a part of their managed assets to buy bitcoin. Lastly, it is going to facilitate retail Bitcoin payments, apart from Starbucks.
Furthermore, Bitcoin is the only crypto which has received worldwide attention, awareness, and adoption. It has been accepted by organizations and payment gateways all across the world. Even new milestones are being achieved like Bitcoin hashrate reaching an all-time high of 62 quintillions per second.
Currently, Bitcoin (BTC) is trading at $10,820.5341 with BTC price 2.51% up today. The market cap of Bitcoin is USD 193,541,342,661 with 17,886,487 BTC circulating currently. The 24-hour price movement chart indicates that $15,736,512,016 worth of BTC was trading. The price peaked to $10932.0000 in the last 24 hours while the lowest price was $10442.0000. (Bitcoin price prediction today USD)
Bitcoin is the most popular cryptocurrency, dominating the crypto space with its blockchain technology and its scarcity. Bitcoin was created in 2009 by the pseudonym Satoshi Nakamoto, who might be an individual or a group of people. It works on a peer to peer network, where no intermediaries are involved. It is the digital currency, which aims to exclude the intervention of any third parties, while you are transacting.
It is gaining adoption and some people have started using BTCs in real-time, like buying a Lamborghini or buying a mansion. It's easy as well as advanced. Once you understand the technology behind it, you will definitely embrace the beauty of this digital currency.
As the market is experiencing volatile conditions, we should back up the prediction with the market experts, who have been the mind and heart of the cryptocurrency market.
Let’s take a look at the famous Bitcoin predictions:
Tom Lee, ex-Chief Equity Strategist JP Morgan, and Co-founder and head of research of Fundstrat, believes that the break-even cost of mining 1 BTC directly correlates with the price of the cryptocurrency. He believes BTC would grow as he is counting on more institutional investors taking on Bitcoin and a steady increase in Bitcoin user base. He recently said in an interview that US President Trump’s remarks could actually trigger a bull run.
Sam Doctor tweeted recently that he believes that mining costs would reduce the BTC/USD price, and the breakeven cost growth can imply an increase of Bitcoin price to around $36,000 by the end of 2019.
Fran Strajnar comes up with a very optimistic prediction where he believes that BTC might reach $200,000 by January 2020. He believes that the rate of adoption is directly proportional to the price increase. The more the adoption rate, the more the increase in value.
Bobby Lee, CEO of China’s first exchange- BTCC said before that it would take 20 years for BTC to reach $1 million. Now his prediction totally changed. Bobby Lee, the co-founder of BTCC(Hong Kong-based Bitcoin exchange) and the brother of Charlie Lee, Litecoin creator gave an extremely bullish prediction but started with bearish though. He claims Bitcoin might reach its all-time low in January 2019, reaching below $2500 and that Bitcoin might pick up from late 2020 and could reach $333,000 in 2021 and then fall down to $41,000 in 2023. He iterated that the market capital might reach $7 trillion, that might surpass the market cap of gold. He even mentioned that Bitcoin would lead to price stability and global liquidity in the coming years.
John McAfee has been one of the stagnant Bitcoin enthusiasts, who now and then comes up with his prediction. He recently became more optimistic than ever and said that Bitcoin might reach 1 million USD by 2020. Other altcoins like Apollo and MTC might rise 10X more, as said by this BTC enthusiast.
In a recent interview with Cointelegraph, McAfee predicted that 10 years from now, “there'll be no fiat anywhere in the world [...] everything will be cryptocurrency.”
Some months back, Anthony Pompliano, founder of Morgan Creek said that Bitcoin isn't going anywhere. He stated that BTC might go as low as $3000, after which it will continue being bullish starting from 2019 and that happened likewise. He enunciated that there is no reason to freak out on the declining price as Bitcoin's fundamentals are becoming stronger.
Max Keiser, who is a former Wall Street Trader and host of RT program Keiser report, predicted on August 4, 2019, that he can sense it strongly that Bitcoin might cross $15,000 tin a week or so.
Even though Bitcoin has been experiencing frequent fluctuations, we believe that Bitcoin will soar up as per the predictions stated above. There are several reasons which led to Bitcoin’s price fall like Bitcoins being used for illicit purposes and so many past mishaps like hacking and thefts. Pros outperformed the cons, hence Bitcoin is still the market leader, bagging the number one position and maintaining its position. Bitcoin might reach the $23,500 mark supposedly by the end of 2019 as the year holds good prospect and development for BTC like NASDAQ launching BTC future, that too in the very beginning of 2019.
Bitcoin has been performing quite well and recently it has started with its bull run. This has taken the market by amazement. Now the traders and investors are in a state where they are trying to make optimum utilization of the bull run. The more the trading, the more the price. Moreover, as we know, Bitcoins are scarce in circulation, i.e. there can be only 21 million Bitcoins mined, out of which 17 million has been mined already, which means only 4 million to be mined, which will make its value more. Additionally, several countries like the U.S., Japan, and South Korea have shown extreme willingness to integrate Bitcoin and other cryptocurrencies into their financial systems by setting up regulated markets which might function freely and securely. By the end of the year 2019, the Bitcoin price will reach $23,499.
The cryptocurrency market might experience a market optimism in 2020, as not only Bitcoin, but all the major cryptocurrencies might experience an upward shift. The governments and the central banks might embrace the digital currencies more than ever, hence the demand might be more. Bitcoin halving is going to happen in May 2020, wherein the miner reward will decrease from 12.5 to 6.25 BTC. You can exchange ETH to BTC at the best rate at CoinSwitch.
The first quarter can see a minor surge up to $25,000, after which it might jump up to 30,000 dollars in the third quarter. By the end of the year, Bitcoin might be valued at $33788.5.
Bitcoin price prediction suggests that the Bitcoin price is up for a long-term 385.450281% in the BTC price value with a 5-year investment. This means that in 2025, the Bitcoin price is forecasted to stand at $ 50044.6.
Bitcoin might touch the $50k mark in the year 2025, which can take the crypto market to a whole different height altogether. As per the predictions and analysis, Bitcoin stays securely to number one position, without any close contender. Gradually, Bitcoin might be seen more as a store of value, along with it being an alternative currency. There are certain Bitcoin price prediction tools which help the experts come up with data. The fiat currencies might be replaced by Bitcoin, as predicted by crypto enthusiasts like John McAfee.
By 2025, Bitcoin might be used more often by more people, i.e, the real-time use case will be increased, which will make it even more powerful.
As per the experts and crypto enthusiasts, a huge chunk of people are optimistic about Bitcoin going up in value in the years to come.
It depends on you and your goal, as in if you are looking for long term investment or short term investment. Moreover, it is highly recommended for you to do thorough research before making any investment decisions.
As per the most expressive Bitcoin enthusiast, John McAfee, Bitcoin might reach 1 million in 2020. He is pretty optimistic and confident in his statement. But that might be a little way too optimistic bullish figure.
You can get Bitcoin with fiats like USD or Euro. But Bitcoin is a virtual electronic currency with an efficient built-in transfer system. You need to put it in an exchange and convert it into fiat to exchange it for real money.
CoinSwitch.co is the world’s largest cryptocurrency exchange aggregator which supports 300+ coins and over 45,000+ pairs. It provides an easier way of trading through global exchanges like Binance, KuCoin, IDEX, Huobi, Ethfinex, HitBTC and Cryptopia without creating an account on them. If you are interested in buying cryptos, do give it a try!