Bitcoin is the number 1 cryptocurrency in the world by market capitalization with a market dominance of 53.9% at the time of writing. Bitcoin was invented back in 2009 by the mysterious Satoshi Nakamoto, which could be a group of people or simply an individual. Bitcoin, in its essence, is a form of decentralized digital cash that works on a peer to peer (P2P) network, without requiring the intervention of any intermediaries for any transaction to happen. Lately the entire cryptocurrency market has been experiencing massive huge fluctuations in term of price. Take Bitcoin as an example, it is now trading at $6,204 from its all-time high of approximately $20000. This makes a lot of people wonder where is Bitcoin or the entire cryptocurrency market going in the near future.
Here we compile a list of the Bitcoin price predictions made by the big names in the industry. As you can see, the predictions regarding the value of Bitcoin in the near future vary tremendously. Some anticipate that it will go to $100, while some claim that it will definitely reach 1 million. The cryptocurrency market is still very young and volatile, despite some of the experts claimed that they have performed extensive modeling and quantitative research to arrive at the prediction ( One even put his body part on the line to vouch for his prediction ), remember to always always take these predictions with a grain of salts.
Who will predict it correctly? Only time will tell!
1 Kenneth Rogoff Bitcoin Price Prediction - $100
Kenneth Rogoff, a Harvard professor, also known as the ex-International Monetary Fund(IMF) chief, dashes cold water on the hopes by claiming that the Bitcoin bubble will eventually burst and reach $100 instead of $100,000.
I think bitcoin will be worth a tiny fraction of what it is now if we're headed out 10 years from now ... I would see $100 as being a lot more likely than $100,000 ten years from now,"
2 Fred Schebesta Bitcoin Price Prediction - $5,200-$10,000
Fred Schebesta, Co-Founder and CEO of Finder has given a fairly conservative predictions about the value of Bitcoin. He believe that the price of price of bitcoin will be about $6,200 by 1 November 2018 as well as $5,200 by the end of 2018. He states
I think BTC could potentially hit bigger figures by the year 2020. But for the next year or two, it’ll still be hovering just under the $10,000 mark. But then again, the end of 2019 is essentially millennia away.
3 Michael Novogratz Bitcoin Price Prediction - $10,000
Mike Novogratz, founder of Galaxy Digital and the former hedge fund chief made a statement during the Finance Disrupted event in Manhattan that he personally believes that Bitcoin wouldn't be able to reach $9K in 2018 but it is quite likely to break beyond $10,000 price point approximately at the second quarter of 2019.
4 Tom Lee Bitcoin Price Prediction - $25,000
Tom Lee, head of research of Fundstrat and the ex-Chief Equity Strategist JP Morgan believes that the price of Bitcoin would reach $25,000 in the near future as he is counting upon more institutional investors entering the scene and the steady growth in the userbase of Bitcoin.
Historically, 10 days comprise all the performance in any single year of bitcoin's price. If you just took out those 10 days, bitcoin's down 25 percent a year.
"So as miserable as it feels holding bitcoin at $8,000, the move from $8,000 to $25,000 will happen in a handful of days,"
5 Sam Doctor Bitcoin Price Prediction - $36,000
Sam Doctor, Quantamental Strategist at Fundstrat Global Advisors wrote in a report that
We expect the mining economy to grow over the next several years, and project a BTC price of ~$36,000 by year end 2019 based on the historical average 1.8x P/BE multiple.
6 Marc Lasry Bitcoin Price Prediction - $40,000
During an interview on Squawk Box by CNBC in July 2018, Billionaire hedge fund manager Marc Lasry shared that he has so far invested about 1% of his total net worth in the Bitcoin and stated that his current Bitcoin price target is $40,000.
You are hoping that as it gets more into the mainstream, and as more markets end up allowing it to trade where it's freely tradable, to me that's more the market bet ... I think you will have something that ends up being somewhere at $20,000 to $40,000.
7 Llew Claasen Bitcoin Price Prediction - $40,000
Llew Claasen, the executive director of the Bitcoin Foundation made a bold statement earlier this year to reassure Bitcoin supporters that Bitcoin will hit $40,000 mark by the end of 2018, even if it takes a downfall. He further added that around 90% of the cryptocurrencies in the market will actually fall
8 Bobby Ullery Bitcoin Price Prediction - $61,900
Bobby Ullery, Chief Technological Officer of Waysay has written on his medium blog on Jun 13, 2017 that
I think Bitcoin and Ethereum will share a $4.5 trillion market cap by 2020.
In 2020, there will be ~18,375,000 BTC in circulation. $1,137,500,000,000 divided by 18,375,000 = $61,900 per coin, ~+2,200% from today.
9 Joe DiPasquale Bitcoin Price Prediction - $10,000 to $100,000
Joe DiPasquale, CEO of the cryptocurrency hedge funds, BitBull Capital state that
Bitcoin’s price can be anywhere in 5 years, from $10,000 to $100,000. An exact prediction is hard to provide because there are numerous fundamentals that are likely to change between now and [then].
Digital currencies and assets are the future of transactions and value storage, and Bitcoin is leading this revolution. But this doesn’t make it easy to guarantee a specific price tag five years down the road.
10 Tim Draper Bitcoin Price Prediction - $250,000
Tim Draper made a bullish statement that Bitcoin could potentially reach $250,000 by 2022, which is merely a short four years away from now during one of his interview with The Street, a Tim Cramer-backed media outlet .
This is going to be so big so if you see a dip, jump in. Maybe it will dip further but boy, I made that prediction and I’m sticking to it. $250,000 by 2022 for Bitcoin.
11 Mark Yusko Bitcoin Price Prediction - $500,000
12 Bobby Lee Bitcoin Price Prediction - $1 million
During an interview with Express.co.uk at London Blockchain Week, Bobby Lee, the CEO of China’s first cryptocurrency exchange- BTCC also make a prediction that the price of bitcoin will eventually surpass $1 million mark but instead of the time 5 years time frame as forecasted by McAfee, Bobby Lee gave a more conservative estimation of 20 years.
"Bitcoin, I think will get to $1 million per bitcoin."
“Right now it’s 10,000, it will go 100,000 and then 200,000, 500,000.
“Half a million, that’s going to be a milestone and then eventually it will cross $1 million for bitcoin.”
13 John McAfee Bitcoin Price Prediction - $1 million
Founder of McAfee Associates, McAfee tweeted on February 2, 2018 to reaffirm his bullish prediction of Bitcoin hitting the $1 million by the end of 2020. McAfee had previously made an audacious statement that the price of bitcoin would hit “$500,000 by the end of 2020”. However, in November 2017, he tweeted that Bitcoin had accelerated way quicker than expected, which made him decided to raise his forecast to $1 million instead.
When I predicted Bitcoin at $500,000 by the end of 2020, it used a model that predicted $5,000 at the end of 2017. BTC has accelerated much faster than my model assumptions.
I now predict Bitcoin at $1 million by the end of 2020. I will still eat my d**k if wrong.
Lot's of people asking me over the past two days whether my bet is still on (that I will eat my dick if Bitcoin does not reach $1 million by the end of 2020). ABSOLUTELY!!! It is a bet that I cannot possibly use. Use your heads people! Run the numbers that crypto folks well know.
Now it is your turn!
Where do you see Bitcoin in the next few years? Let us know your prediction in the comment section below!