Many cryptocurrency bulls have joined forces in their shared predictions on the value of Bitcoin. The cryptocurrency is eyeing for a long-term goal of hitting a price target of 1 million dollars.
IBM blockchain and digital currencies Vice-President Jesse Lund said during an interview about his prediction with finder “I see Bitcoin at a million dollars, maybe $5,000 by the end of the year but a way higher trajectory. That means there’s over $20 trillion of liquidity in this network.” RT’s Max Keiser mentioned a similar prediction in 2016, saying “most of the people who are on the sidelines not buying bitcoins today will start to buy when it gets over $1,000, and then a greater percentage of people will plow into bitcoin once it trades over $10,000.”
Swedish entrepreneur Rick Falkvinge is convinced that about 1 percent to 10 percent of global investors will be bagged by bitcoin and wrote “This leads us to a target market cap of 600 billion to 6 trillion USD, to be fulfilled by about 6 million bitcoin, which makes for easy calculations. That means that each bitcoin would be worth $100,000 at the low market cap and $1,000,000 at the high market cap.”
Xapo CEO Wences Casares believes that the seven-digit mark is unquestionable and is more likely to occur for Bitcoin. He states during TechCrunch Disrupt 2015 “I think that there is a higher than 50 percent chance that a bitcoin is worth more than a million dollars.” Bitcoin Knowledge Podcast host Trace Mayer even predicted a price target of more than 1 million dollars, saying “If you moved just 1% of the cash balances from off shore tax haven bank accounts, which currently hold estimated $30 trillion of value, if you move just 1% of that into bitcoin you are looking at $2.8 million per bitcoin.”
John McAfee made a prediction that specifically targeted the golden mark by the latter parts of 2020, and the online tracker that overlooks his prediction analyzed that bitcoin should be worth more than 39,000 dollars to meet the 2020 deadline. Consistent growth of about 0.3 percent for bitcoin is required within today and the years leading to 2020.
Bitcoin should find more stability while growing in price. For sure, the treat of reaching a price value of 1 million dollars keeps crypto bulls enticed and eager to witness bitcoin’s would-be remarkable achievement.