Bitcoin is the first cryptocurrency, initially, it was created to replace fiat and was intended to destabilize the traditional financial system. Bitcoin is a pioneer in the field of cryptoindustry, many other cryptocoins have been developed on its basis, and even more will be formed. The cryptocurrency was created to be available to everyone, regardless of the region of residence and social status. Even now the cost of one bitcoin is more than 60 thousand US dollars. Although even a year after its creation, its price barely reached $ 1.
The high capitalization, the steady rise in price of bitcoin, as well as its characteristics as a cryptocurrency, make it possible to assume that this electronic currency has an outstanding future. Therefore, crypto analysts regularly post predictions regarding the development of bitcoin in the near and distant future.
The strength of the cryptocurrency is quite large, its potential is measured in millions, therefore the predictions of its value represent such astronomical indicators. Most cryptanalysts who predict the growth of cryptocurrencies estimate the future of bitcoin at $ 100,000-1 million.
When exactly will the assumptions of cryptocurrency analysts come true? Most investors would like to know the answer to this question now.
What is bitcoin basically?
The world's first peer-to-peer cryptocurrency was created by an unknown developer or even a group of developers under the general pseudonym Satoshi Nakamoto. Before the appearance of bitcoin, no one thought about electronic money, and even after the first cryptocurrency was created, it did not immediately gain popularity.
One of the main advantages of bitcoin is peer-to-peer, it does not require centralized subordination to a specific system, therefore, its origins do not have a controlling body. For comparison, all fiat currencies are controlled by state systems - banks and other financial institutions, while bitcoin is completely devoid of this feature, therefore, it does not require any monitoring of the process or confirmation during transactions.
The main force controlling bitcoin is mining, as a result of which its participants receive bits of bitcoin as a reward for the generated blocks to make up the chain. To protect bitcoin from depreciation, the developers have thought about reducing the reward every 4 years by half. This procedure is called halving, but this does not stagnate the growth of the bitcoin network at all, but, on the contrary, continues to stimulate interest in mining. Halving maintains a cryptocurrency scarcity and makes it similar to strong currencies like gold.
The total amount of bitcoins is limited, the stock is 21 million coins. All of its notorious characteristics are an excellent option for preserving assets during the volatility of currency systems around the world. In this cryptocurrency, you can store assets for a long time without fear of inflation. Also, this cryptocurrency is the safest in crisis situations, which was demonstrated by 2020, when the economies of most countries underwent serious collapses.
Actually, the development of this world's first cryptocurrency was carried out after an equally severe crisis in 2008. Then the developers set out to create such an electronic currency
that would be controlled only by the owners of assets, and not by a centralized system that regulates cash flows. In 2020, people again turned to cryptocurrencies against the background of a pandemic, the impossibility of traditional earnings and the economic crisis around the world.
Thus, Bitcoin has established itself as an incredible achievement of the 21st century, which has turned the general understanding of the financial system and gave it new properties and characteristics. Analysts believe that in the future, bitcoin will still take its leading role, as someone Satoshi Nakamoto assumed when it was created.
The history of bitcoin price movement
As of today, the price of BTC is $ 60,000. The volatility of the cryptocurrency and its ability to move the rate according to the principle of a parabola can lead to the fact that tomorrow the rate will either become twice as large or even fall to the very bottom. Moreover, the latter perspective does not mean that the fall will be catastrophic and the price will no longer rise - similar situations have already been known in the history of the development of this cryptocurrency
- bitcoin fell, rose, fell again, but after that, it surely grew in price again.
At the beginning of its life, bitcoin was worth much less than a cent - this was at a time when no one saw the prospects for a digital currency. Even a year or two after its creation, it was less than a dollar, but time passed and its price rose to 1 thousand dollars. At the same time, they began to consider it as a serious financial asset with long-term potential.
The new 2017 was marked by astronomical growth, so many depositors in just a few months enriched themselves by a fairly round amount, when BTC peaked at $ 20,000. Then it was a serious record, so most of the media thundered with fresh news about decent earnings on investments in this cryptocurrency. At that time, many were in a hurry to buy bitcoin, as they were inspired by such a progression of events.
However, the next year, the trend changed a lot, and bitcoin began to fall in price, dropping from 20 thousand to 3 thousand at once. This greatly undermined investors' confidence in the prospects of cryptocurrency, but all that was left was to wait for the price to rise or not. The wait-and-see position has provided an advantage for many, as in 2019 the cryptocurrency began to rise in price again. For this period, the cost fluctuated in the range from 10 to 14 thousand, although then there was a collapse again, and prices dropped to 6.5 thousand. In 2020, the situation worsened a little - the cost of bitcoin began to equal 4 thousand dollars. But this provoked a new wave of purchases since it was the pandemic that drew the attention of most companies to cryptocurrency as a safe asset, not subject to the crisis.
In the coming 2021, the cryptocurrency is traded at a price of 60 thousand dollars, that is, for those who were still able to buy it in 2020, good times have come - the cost has increased 15 times. Bitcoin has hit another all-time maximum this year and is not going to stop as it has no real resistance from outside.
The future of bitcoin through the eyes of experts
Predictions from leading experts of the cryptocurrency community regularly appear on the network, which suggests how the cryptocurrency will develop in the near and long term.
company owner and financial analyst
This well-known person believes that soon Bitcoin will break the mark of 100 thousand, and in the future, its growth to 400 thousand is not excluded. Keiser is also known for believing in the constant growth of cryptocurrencies in those distant times when the BTC coin cost a little less than dollar. According to his bold predictions, 100 thousand for bitcoin may be established at the end of this year.
writer, author of many books on entrepreneurship, ways of getting rich
This person has been recommending his adherents to invest in gold and cryptocurrency for several years already, and since the most promising cryptocurrency is considered the first of them - bitcoin, then, in his opinion, it should be invested in it. According to his predictions, gold may soon become 3 thousand dollars/oz, and bitcoin will reach 75 thousand already next year. Although looking back at its current price, it can be assumed that this figure will be beaten back in 2021.
crypto Developer and Blockstream CEO
One of the pioneers in the cryptocurrency field, Adam Back, believes that over the next 5 years, the price of bitcoin could reach 300 thousand dollars. Currently, when more and more fiat money fills the market, the volume of their printing increases, in the context of the global economic crisis, more and more people become members of the crypto community in order to preserve and increase their own capital, as well as to prevent the depreciation of their assets. So far, Bitcoin, in Back's opinion, is the most reliable way to store funds.
the owner of Morgan Creek Digital
This is a fairly well-known member of the cryptocurrency community. His company works in the field of cryptocurrency asset management. According to his statements, half of his personal assets have been transferred to bitcoins, which demonstrates his trust in this cryptocurrency. Anthony previously reported that Bitcoin could rise to 100 thousand per coin by the end of 2022. A later prediction became even bolder - 250 thousand for the same period. He believes that due to the acceleration of global demand for cryptocurrency during the crisis, the price growth will also be rapid. In particular, activity is increasing on the part of companies - most of the world's giants are already actively investing in cryptocurrency.
Mark's prediction immediately after the statement made headlines in the media, as ambitious and quite bold. True, he expects a long-term perspective - 400 thousand US dollars per bitcoin. He believes that the prediction is based on purely mathematical calculations based on the price and capitalization of gold and the total number of available bitcoin coins.
As the owner of a billion-dollar fortune, Yusko believes that the future belongs to cryptocurrencies, and traditional banks continue to give up their positions due to the obsolescence of their financial institution. When using blockchain technologies
for financial transactions, the process is seen as much more reliable, safer and more convenient. Based on this, it can be assumed that it is the supporters and owners of traditional financial corporations who are restraining the spread of cryptocurrencies by their attempts to stay on the sinking ship.
Bitcoin development prospects based on predictions
Cryptocurrency analysts and leading industry researchers predict an incredibly large-scale growth of cryptocurrency, based on the current value of $ 60,000 today. It is impossible to say for sure when exactly Bitcoin will reach such indicators, but this does not stop specialists from conducting technical analysis.
In general, the rate in 2021 is showing growth, and it is quite possible that in the next few months it will reach the projected levels.
According to the already historically established situation, the trajectory of the bitcoin rate is constantly swinging - from the maximum to the point of a consolidation. If we consider the movement by analogy, then the cryptocurrency will reach a maximum of about $ 325,000, and then it may fall to $ 50-60 thousand.
Cryptocurrency research prediction for 2022-2023. Source.
According to other sources, the growth of bitcoin in 2022 will look like this:
In any case, a strong fall is not expected in the near future, so many investors prefer to boldly invest their funds in this cryptocurrency, without waiting for new rounds of the global crisis.
Retrospective: did the predictions until 2021 come true?
In the past years, cryptocurrency analysts and financiers have also proposed options for the development of bitcoin
, many of which proved true, some were too bold and did not come true.
Tim Draper, billionaire, expected the cryptocurrency to be worth at least $ 10,000 in 2018 - as this year has shown, the predictions were accurate and true. Draper is a supporter and fan of cryptocurrency technologies
, in particular Bitcoin and the blockchain, the technology that is the basis of his work.
One of the mainstream investors who regularly invests in bitcoins, Mike Novogratz, also predicted an increase in the price of bitcoin
to 10 thousand in April 2018. At that time, this investor had already invested about $ 150 million.
At the same time, Moas, who was studying the cryptocurrency sphere and its prospects, did not guess with the prediction, because he hoped that the cryptocurrency would reach the mark of 50 thousand already in 2020. Although he is considered one of the leading analysts, this price did not live up to his expectations and appeared in reality only in 2021.