Anyone can predict bitcoin’s future price, but doing so precisely is not a simple task. One has to consider a myriad of factors that come into play, including the high level of volatility infamous with crypto markets.
Today, we weigh in on some of the bitcoin predictions made in the recent past. Several predictions have been made, and it has turned to a debate, who’s right and who is overzealous. It remains to be seen.
Tai Lopez Expectations
One of the most reasonable prediction was made by Tai Lopez, an investor, and advisor to a string of multi-million dollar industries. Instead of an ambitious figure, Lopez gave a solid argument as to how bitcoin could reach a rather moderate $60,000.
According to Lopez, all it takes is world millionaires investing 1% of their assets in bitcoin to reach the $60,000 figure. It may seem achievable at first, but getting a pool of world millionaires to pay attention to bitcoin can be quite a daunting task.
Other factors need to chip in to reach this kind of figure. The current uptrend paves the way for a new all-time high, most likely by the end of 2019. But at the same time, anything can happen.
Mark Yusko Sees A Brighter Future
Meanwhile, there are ambitious bitcoin predictions that have naturally enjoyed the airwaves. Mark Yusko’s prediction is one of the few ambitious forecasts. Yusko, the Founder of Morgan Creek Capital, ignited a debate when he predicted that bitcoin would reach $400,000. He had his reasons.
According to Yusko, bitcoin is easier to transport and divide. These are among the essential qualities bitcoin possess that is superior to gold.
John MacAfee’s Target
The name John MacAfee is not new to bitcoin predictions. Over the past couple of years, MacAfee has made a few predictions, overambitious to say the least. Back in 2017, MacAfee predicted that the flagship currency would reach $500,000 in three years that would be in 2020.
The same year saw MacAfee revise his predictions. Considering the absurdity of his first prediction, you would expect him to reconsider the figure downwards, right? Not John MacAfee. That’s right, he revised his the figure upwards, and double his original number for that matter. He now expects bitcoin to reach a million dollars by 2020.
His target is fast approaching, and although we might be heading in the right direction, we are nowhere near.
Joe Davis Pessimistic Of Bitcoin
While many experts have been positive on bitcoin’s future, others are on the pessimist, to say the least. Joe Davis is one of the crypto pessimists, boldly stating that bitcoin will go beyond zero dollars. Though this is not the first time, a bearish prediction has been made.
According to Davis, bitcoin still falls short of currency criterion. Needless to say, he also considers bitcoin dubious as an exchange means. The current market trend is proving him wrong.
As you can see, some of the predictions have been over-ambitious, others a little modest, with a few over pessimist. One prediction that has made waves, not by being overambitious is Peter Brandt’s. He estimates that the price will hit $50,000 soon enough.
There is still room for improvement for the target to be reached. It also means that the current record will need to be more than doubled. Brandt already predicted an 80% drop correctly. Given his credibility, he is the most likely of the predictions above.