It is evident the Bitcoin price is going through a bit of a rough patch right now. After a few months of sustained growth, things are seemingly flattening out for a bit. Given the recent Bitcoin price decline, it is still good to see one BTC has a value of over US$2,000. One analyst feels Bitcoin could rise to US$100, 000 in the coming years.
Wild Bitcoin Price Speculation Is Misleading
It is easy for someone to say how Bitcoin is supposed to reach US$100, 000 in value per unit. After all, that only represents an increase of over 3,400% in ten years. That is not entirely implausible, although it is doubtful things will go as easy as some analyst predicts. While it is true Bitcoin is shaking up the financial system, the opposition of cryptocurrency is still a very big problem all over the world. Governments, banks, and most companies simply don’t like Bitcoin, and that will not change anytime soon.
Bitcoin has seen some spectacular value increases in the past. After all, the currency was worth nothing during the first year of existence. If Bitcoin and other cryptocurrencies can increase their position in daily currency trading markets, things could look quite good. Once again, that is much easier said than done. Most Bitcoin enthusiasts would like nothing more than to see the value explode, but we have to be realistic as well.
The prediction made by Kay Van-Petersen is quite a bold one. Then again, the same person felt it outrageous to claim the Bitcoin price would hit US$2,000 in 2017. It has been far easier to make a US$2,000 prediction and see it come true compared to a US$100,000 one, though. There is no guarantee Bitcoin’s value will rise all that much beyond this point. Then again, one shouldn’t dismiss the possibility of seeing the value increase tenfold either. Anything can happen in cryptocurrency.
One thing working in Bitcoin’s favor is its global accessibility despite a limited coin supply. Twenty-one million bitcoins will be in circulation by 2140. That number may end up being a lot lower due to coins being stolen or wallets becoming inaccessible. Whether or not we will see a US$100,000 value for Bitcoin in ten years, remains subject to wild speculation. Some of us certainly hope to see it come true, though.
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