Bitcoin, for the past decade, has been a hot topic of discussion. It is currently one of the most invested ventures in the world. In the later days of 2017, BTC reached its highest peak of $20,000. This came as no surprise since ten years ago. Bitcoin was only worth $0.06. This tremendous growth has made lots of curious investors question whether Bitcoin can hit $25,000 or even surpass this figure.
Well, do you too want to find out about Bitcoin price predictions in 2019? Here is what crypto traders and investors think about the future price of Bitcoin.
The Bitcoin Price Prediction in 2019
As of June 2019, the price of 1 BTC is equivalent to $10,000. Ever since Bitcoin hit the market, we have noticed its massive gains. Day after day, the Cryptocurrency appears to be increasing despite what a few economists have to say.
Most investors agree that Bitcoin as a currency is here to stay, and in the next few years. Its price is likely to skyrocket even higher. Early Bitcoin investors can testify as to on how this Cryptocurrency has made them millions after millions each year. This is despite losing half of its value from 2017, $20,000 per coin price. The reason behind its steady growth is its scarce supply and mining of Bitcoins is harder than it was a while back.
Is It Possible for BTC to Hit $25,000?
Different investors had a lot to say about Bitcoin’s price prediction. For instance, John McAfee, the founder of McAfee Associates, predicted that BTC wouldn’t only hit $25,000, but it will shoot $1 million in 2020. He was so sure about this prediction to the extent that he promised to dine on his mine parts if the prediction didn’t come true.
Tom Lee, the co-founder of Fundstrat Global Advisors, gave a prediction price of $91,000 per coin in 2020. Another financial expert, Ronnie Moas, also gave a prediction of $50,000 per coin in 2020.
From all these predictions, we can conclude that every financial expert who is interested in BTC does have his/her predictions. However, if we look at the specifics. You will realize that lots of people are opting to invest in BTC. And since these coins are in limited supply (Only 21 million coins are in supply). We can only expect the price to go up.
This is, however, not a precise prediction since Bitcoin is notoriously known for increasing or decreasing in size over a short period. As you can see from the above predictions, there is no definite price of Bitcoin by 2020. However, one thing that most financial gurus share is that they all expect it to increase from its current value.
Below is a summary of what popular Cryptocurrency traders predict the price of Bitcoin to be in the future.
- Master Luc predicts BTC to increase to $40,000 per coin by the end of 2019.
- Ronnie Moas – $50,000 per coin by 2020.
- John McAfee – $1 million by 2020.
- Kay Van Petersen – $100,000 by 2027.
- Chamath Palihapitiya – $1 million by 2037.
The Bottom Line
Despite there being no accurate price prediction of Bitcoin in the future, both traders and crypto-investors all agree that the price of Bitcoin is going to rise. There is no doubt that Bitcoin has the potential to exceed the $25,000 mark by 2020.