This is a special number, because if bitcoin reaches this price level, its market capitalization will be equal to golds market valuation. But if that insane price materializes, McAfee will end up looking like even more of a madman genius than he already. Bitcoin, and thats no surprise, seeing as how the number one cryptocurrency had an absolutely explosive price performance in 2017. Think about how when the price of oil surges, more companies begin producing oil, which then increases the supply and acutely deflates the price of oil accordingly. Now, we cant count our eggs before theyve hatched.
At this point, all we need is to divide 50 trillion by the number of bitcoins in existence. Indeed, he stated that he and his brother believe that bitcoin disrupts gold. Whats the BTC Price if Crypto Market Reaches Stock Market Size? Bitcoin boom in general as his mid-term BTC price projection suggests. During an interview with cnbc he said: So if you look at a 100 billion market cap today, now last week it might have been more like 200, so its actually a buying opportunity, we think that theres. To that end, the scarce, deflationary quality. There is a major bullish trend line in place with support at 6,750 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). And so a lot of people are starting to se that, they recognize the store of value properties. That would put Bitcoin as having around a 50 trillion market cap. There are not so many vendors right now who can accept cryptocurrencies but theres huge adoption on the black market.
But thats just Falkvinges conservative estimate. Max Keiser Projects 15k Soon, 100,000 On The Horizon. Bitcoin price rallied significantly above 6,800 and 7,000 against the US Dollar. Specifically, the tens of billions as he argues: Thats certainly the most aggressive price prediction anyones made for BTC yet. BTC seems to be following a nasty uptrend and it could even test 7,800 or 8,000 in the coming sessions. Going much more long-term, Novogratz said it was within the realm of possibility that the bitcoin market cap could one day reach the current market cap of gold, which is around a whopping 8 trillion USD. Bitcoin climbed to a fresh 2019 high, approaching the 6,000 level for the first time since November on most cryptocurrency exchanges. Mr Singh commented: If you look at Microsoft of Apple when they went public their stocks were very volatile because the market wasnt mature.
But that doesnt mean he doesnt respect the beast that BTC is and could. When he explained that bitcoin could reach that price (10,000 the cryptocurrency was traded just at 413 dollars. But maybe its possible in 30 or 40 years. Jeet Signh An important portfolio manager that worked for more than six years in the cryptocurrency world, predicted this year that Bitcoin could reach 50,000 dollars. Hes also become a Bitcoin aficionado over the past several months, and he never hesitates to voice his opinions on the cryptocurrency craze accordingly. Once renowned for being a prominent Wall Street hedge fund manager, Mike Novogratz has now set his sights on the cryptocurrency space, and hes not turning back. Bitcoin makes it totally unlike traditional fiat currencies, which are usually prone to inflation and even hyperinflation in the worst of cases. The price even spiked below the 7,000 level, but the 6,850 level acted as a support. At the same time, he said that in the future Bitcoin could keep growing. And its his opinion that the next major target for the bitcoin price to hit is 100,000, echoing Max Keisers aforementioned prediction.
7,826.11 872.09(12.49) 1H 24H 1W 1M 1Y, aLL, may 13 7:16 PM 7:16 PM 11:12 PM 3:08 AM 7:04 AM 11:00 AM 2:56 PM 7:04 PM, cointelegraph 22 hours ago, bitcoin. And lets also say that BTC maintains its current position as hovering around a 50 percent share of the entire crypto market (though, of course, theres no reason to believe itll stay at 50 percent forever). Bitcoin is the future currency. And I am really excited about all the extraordinary things that can happen because of crypto and bitcoin. According to him bitcoin and blockchain technology are one of the best things that happened for businesses. There was a sharp upward move above 6,800 in bitcoin price against the US Dollar. An immediate resistance is at 7,220, above which the price may test the 7,350 level. And for Novogratz, theres no confusion as to why that particular price point may end up really materializing. Theres a reason Satoshi Nakamoto reached out to Back (and Wei Dai) first in starting up Bitcoin. Round up, and thats 3 million per bitcoin. There will never be more than 21 million, and even contemporary estimations say more than 3 million BTC have been lost for good, making BTC considerably scarcer than many realize. That means as more investments pour into BTC, its price will likely continue to see upward pressure because there will be no supply response. However, the bulls remain in control and they are likely to aim a new high above 7,500 in the coming sessions.
Tim Draper The cryptocurrency expert and venture capitalist, Tim Draper, has also given its opinion about the future price of Bitcoin. Looking at the chart, bitcoin price is clearly in a strong uptrend above 6,850. The BTC/USD pair surpassed many hurdles near 6,000, 6,200 and 6,400. The price traded to a new 2019 high at 7,457 and recently corrected lower. He knows the ecosystem as well as anyone. Adam Back Agrees: 100k Coming Love him or hate him, Adam Back is an OG cypherpunk whos made incalculable contributions to the cryptocurrency space as a whole. Cameron Winklevoss Cameron Winklevoss is one of the two popular Winklevoss twins. Why would I go and grab some weird fiat subject to the will of some governments? And his opinions are exceedingly bullish, to say the least.