When the Bitcoin price began to rise in 2017, most investors sold their Bitcoin to enjoy the profit. However, one great lesson we learnt was that holding power is vital. Those who were patient enough, holding their coins till early 2018 made three times the profit when compared to those who sold it last year.
Bitcoin (BTC) Price Today – BTC / USD
Bitcoin Price Prediction
John Pfeffer (partner at Pfeffer capital) gave a long term prediction that Bitcoin will grow over 75 times. He feels that in the future, the value of Bitcoin will be around $700,000.
Tim Draper (a venture capitalist) has predicted that, in 3-4 years’ time, Bitcoin will be valued at $250,000. It is very clear that, John’s prediction is a bit optimistic or a little farfetched, Draper’s prediction is quite realistic though.
John McAfee has predicted that by the end of 2018, Bitcoin will exceed $7,000. He also predicted that, by 2020 it will be worth over $1 million.
Last year, John McAfee was the same person who predicted that Bitcoin will exceed the $7,000 mark and at the end of the day, his predictions came true. McAfee once tweeted that his $1 million prediction for 2020 was made using the same model. Kenneth Rogoff (an ex IMF chief) has predicted that the value of Bitcoin will drop to $100 or lower since it is a bubble which is yet to burst.
JP Morgan chief, Tom Lee has made his own prediction that Bitcoin will exceed the $25,000 mark because he believes the crypto world will experience great growth. Llew Claasen has predicted that, one bitcoin will be valued at around $40,000. He noted the possibility of ups and downs coming in, but still maintains his point that Bitcoin will swim against the current and somehow meet his expectations.
One should note that Bitcoin is full of surprises and therefore you should invest whatever amount you can afford to lose. Being optimistic is great, but it is very important that all crypto investors should keep in mind that there’s always a possibility of a downfall.