Can Bitcoin See The Good Old $20,000 Days in 2019 Or Go Higher?
Analysts, enthusiast, and market figures have very diverging opinions and bitcoin rate predictions for both long and short-term. Optimism is still high in many quarters– reports of a new survey amongst British financials recommend a wide bulk will buy more coins in hope of rate resurgence later on this year.
As we look into who’s saying what and why, here’s a heads-up. Expect a lot more rate fluctuations in the interim. It’s going to be a rough ride getting to any place Bitcoin is headed by the year’s end.
In addition to 2019 moving ahead, Bitcoin prices are too reaching to greater heights. This, in turn, is creating a great deal of buzz, as the crypto leaders forecasts are reaching a target of a million dollars. This is all after JPMorgan’s fair value of $2,400.
John McAfee was the very first person to make a bold prediction that the Bitcoin price will reach $1,000,000. He not only just made a price forecast however, he also declared the date of Dec 31, 2020.
People are waking up to the fact that Bitcoin will be $1,000 000. But when? “Someday”. “Maybe 5 years”. “WIthin a decade”. I’m the only one giving you a hard date: Dec 31st, 2020.”will-be-1-million-someday-says-jesse-lund-vp-of-blokchain-at-ibm.html
— John McAfee (@officialmcafee) February 22, 2019
This prediction by John McAfee was all after IBM Blockchain’s VP, Jesse Lund statements. Recently, in an interview Jesse Lund likewise made a bullish forecast that he saw Bitcoin at a million dollars sooner or later. Although he has actually not offered any specific date for this forecast, he, however, stated that it might be eventually. He also stated that things are going to alter totally for international financial systems when it does happen.
I see Bitcoin at a million dollar someday. I have actually blogged about this a little bit. I like that number, because if Bitcoin is at $1 million, then a Satoshi will be equal to one U.S. penny, which would mean that there is over $20 trillion of liquidity in this network and this $20 trillion of liquidity would massively change the global financial services landscape.
Elaborating, even more, he also stated that he anticipates Bitcoin to cross $5000 by the end of the year and most likely heading towards the million dollar mark in the not to distant future.
Furthermore, Jesse also states that IBM’s cross-border payment network, Blockchain World Wire, may likewise support numerous cryptocurrencies.
It could be Ripple, it could be XRP even. It could be Bitcoin. But it would also probably include other instruments, like stablecoins, and even eventually soon, hopefully, central bank-issued digital currencies.
Moreover, he also intends to support 50 nations, 30 to 40 currencies, and nearly of the market to get onboard 30 to 40 banks. Thereby, covering quite a substantial part of the world. Ultimately, IBM Blockchain’s goal is to broaden its network to provide worldwide protection within three to five years. Wherein the users can send remittances in a constant at a really low cost from any corner of the world.
Other Bitcoin Price Targets
Quite interestingly there are other targets offered for Bitcoin prices. Tim Draper predicts a target of $250,000 in the year 2022. The Winklevoss twins likewise have a forecast of $320,000 for the next 10-20 years. Also, a few of them see a target of few hundred thousand dollars in the next 5-20 years. While some see it reaching millions of dollars by the end of next year itself.
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