Cryptocurrencies generally experienced soaring prices over the last year. In 2017, Bitcoin (BTC), the father of all digital currencies by market cap, rose to as high as $19,000 to record a new all-time high. However, the price of the digital asset collapsed to as low as $4000 in 2018 and has continued to plunge further down as of press time today. Bitcoin (BTC) has increasingly slumped in price alongside other digital currencies in the previous year, which ultimately gives a picture of an unattractive start for the crypto market in the New Year.
Bitcoin (BTC) Price Today – BTC / USD
Financial Experts Give Predictions for Bitcoin (BTC)
Let’s see what experts have predicted for Bitcoin (BTC) below:
Bill Gates: Bitcoin to Reach $0
Bill Gates sees the idea of Crypto as something not worthy of serious consideration. He has never been a fan Bitcoin (BTC) or cryptocurrency. This was obvious when he received Bitcoin as a birthday gift years ago. The business mogul never really considered it as something of value. Gates has declined attachment of any value to his Bitcoin (BTC) predictions. Going on to predict that the token will drop below a dollar. Considering his theory a sudden violent collapse to the Bitcoin and cryptocurrency markets will come sooner or later. Paper Bitcoins are increasingly gaining popularity, which might present the potential to ruin any chance of Gates’ foreseen market crash.
Thomas Lee: Bitcoin to Reach $25,000
According to Thomas Lee, who founded Fundstart Global a research startup, Bitcoin (BTC) has an appealing look because of its mining cost which is $7,000. Lee expects Bitcoin to spike to $9000 by the end of the year with the hope of even rising up to $2500 or thereabout. In two separate interviews last year, Lee predicted that the rise in Bitcoin mining would drive the coin to $25,000.
In a recent crypto summit, Lee blamed the sudden drop in the Bitcoin price on the global regulatory uncertainty that has plagued the space, the extended bear market, and unknown impact of futures contracts.
Cameron Winklevoss: Bitcoin to Reach $320,000
According to Cameron Winklevoss, when you look at the $100 billion market cap of the Bitcoin (BTC) today and consider that as at last week it may have reached more $200, billion, so it’s a matter of buying opportunity, which we believe will present a potential appreciation of about 30 to 40 times. The gold market is $7 trillion in market capitalization. Many people are beginning to see and recognize the store of value features in Bitcoin. Hence, regardless of price movements, Bitcoin is still underappreciated.
Cameron is one of the Winklevoss twins. He and his brother Tyler, are popular figures in the Bitcoin sphere. Cameron’s prediction of $320,000 assumes between 10 20 years to materialize.
Crypto price predictions are hard to make, yet it is safe to say that one or more of the above predictions will come to pass. After all, the guesses range begins from $0 to over $1 million. One thing that is sure is that this year would be a rare market for Bitcoin should its price fall outside of the limits above.