Categories: Bitcoin Business

Experts Weigh in On Where Bitcoin Will Go from Here

Click here to view original web page at www.livebitcoinnews.com

The Leader of Crypto Is Splitting Minds… Again

Recently, news was published explaining that the father of crypto had reached the $7,000 mark. The currency has been on a serious bull run since we first entered April, and the currency has now reached a nine-month high.

The big question is, “Will it continue to rise beyond our expectations, or will it suddenly drop and deplete all its recent gains?” Votes are in from assorted experts, and as one would anticipate, the reactions to bitcoin’s price are rather mixed. Some say it has entered newfound bullish territory and will rise beyond anything we could have predicted. Others spew the same old gloom and doom.

Morgan Creek Digital CEO Mark Yusko is one of those people predicting good things for the asset. In a recent interview, Yusko commented that bitcoin could potentially reach $400,000 within the next ten years and could possess the same market cap as gold. He states:

Gold… has been hard money for 5,000 years. It’s about 7.4 trillion dollars in value. The best thing about bitcoin is its digital gold. It’s much easier to transport; it’s much easier to divide. It has all these essential qualities that I think are superior to gold. If we get the amount of value equal to gold, that would be about 7.4 trillion. Divide that by 21 million coins, and we get around $400,000 per coin, maybe $500,000 per coin. When does that happen? It might be a decade or more.

Another bitcoin bull, Tim Draper, has consistently provided insight as to why he thinks bitcoin could reach a price of $250,000 by the year 2022 (just three short years from now). Doubling down on that prediction, he recently stated:

I have no interest in selling my bitcoin. What would I sell it into, anyway? Moving from crypto to fiat is like trading shells for gold. It is reverting to the past. I’m thinking long term I’ll use it, spend it, invest it or just keep it. Pricewise, we’ll continue to see bitcoin move higher. I’ve revised my estimate up to $250,000 four years out, so we’ll see bitcoin trade around the $250,000 mark in 2022.

Nouriel Roubini, on the other hand, is on the opposite end of the spectrum. A “notoriously bearish” economist at New York University, he referred to bitcoin as a “sh*t coin” at a recent conference and said that all who traded bitcoin or other assorted cryptocurrencies were “suckers.”

Some Just Refuse to View Bitcoin as a Good Thing

He comments:

I don’t care about the price of bitcoin… There are 500,000 items on Google if you search sh*t coins… It’s a technical term.

In a funny twist, hedge fund manager and bitcoin fan Mike Novogratz recently offered to wear a T-shirt saying “Nouriel was right” if bitcoin fell below the $6,000 mark.

Recently, news was published explaining that the father of crypto had reached the $7,000 mark . The currency has been on […]

cinerama

Illuminati, Mason, Anonymous I'll never tell. I can tell you this, global power is shifting and those who have the new intelligence are working to acquire this new force. You matter naught except to yourself, therefore prepare for the least expected and make your place in the new world order.

Disqus Comments Loading...
Share
Published by
cinerama

Recent Posts

CME Group Reveals Plan for Bitcoin Options in Q1 2020

Leading derivatives exchange operator, CME Group announced in a press release today that it will launch options on its bitcoin… Read More

6 hours ago

Analyst: Bakkt Launch to Improve Trustworthiness of Crypto Markets

For the past year many participants within the crypto markets have been looking towards the official launch of Bakkt as… Read More

6 hours ago

IBM Stock Gets a Blockchain Pop

IBM (NYSE: IBM ) investors haven’t had all that much to complain about in 2019. After a precipitous drop over… Read More

6 hours ago

I-Team: Bitcoin scams rob Triangle investors of $54K

RALEIGH, N.C. (WTVD) -- A series of online heists is robbing even the most tech-savvy people in the Triangle.According to… Read More

6 hours ago

Colombia is slowly moving toward Bitcoin-friendly regulations

To say Colombia doesn’t have the best cryptocurrency regulations in the world would be an understatement. As it stands, crypto,… Read More

6 hours ago

Ethereum price analysis: Bulls take full control of ETH/USD

ETH/USD went up from $218.55 to $220.60. The Relative Strength Index (RSI) indicator is trending in the overbought zone. ETH/USD… Read More

6 hours ago

This website uses cookies. We use these cookies to collect data about your interaction with our website for the purpose of continuously improving your experience with our site. For more information we encourage you to read our privacy policy.

Read More