With the (very) recent dip in Bitcoin, we can all benefit from being reminded that it's better to hold for the long term. According to The Merkle, the analyst who predicted bitcoin's rise to $2,000 is now predicting over $100,000 per BTC within the next 10 years.
Kay Van-Petersen, the analyst who predicted the Bitcoin price going up to $2,000 now has another prediction, and this time, it’s even more astonishing. According to his newest prediction, the price of Bitcoin might even reach $100,000 during the next decade. If true, this newest prediction would mark a 3,483% rise.
Furthermore, Bitcoin is poised to replaced 10% of ALL fiat currency trading volume, or roughly $500 billion a day, a monumental achievement.
Van-Petersen explains this rise like this. He assumes that cryptocurrencies (including Bitcoin) will account for 10% of their ADV (Average Daily Volumes) of fiat currency trade in the next 10 years. The ADV for the foreign exchange is over $5 trillion at the moment. Now, 10% of $5 trillion is $500 billion, which is the potential ADV for the cryptocurrencies.
Cryptocurrency is here to stay
We'll make it through this bump, just like all the other hard times, and soon we can all be grateful (and well rewarded) that we held firm. To the moon!
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100000? holy shit I should really invest all my money in it now! ony problem I got like 7$ atm lol
Dude! That'll get you like .0000000000000001 bitc...get it! lol
In a true free market economy the value is set purely by supply and demand. As such the potential value of bitcoin is almost infinite.
I concur. There is no limit.
Are these analysts considering the hundreds of competing cryptocurrencies? Are they considering the challenging problems bitcoin is already facing with no acceptable solutions in sight? Although $100,000 is far fetched imo, it wouldn't hurt to buy a couple bitcoins and hold on to them, just in case :)
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Hard to see...I think there's so many other coins with much better infrastructures than bitcoin, I think bitcoin will be 10th in the list within 3 years..time will tell!