Bitcoin price at $40,000 by end of 2020! – statement by the СЕО of Bitcoin Foundation

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Bitcoin price at $40,000 by end of 2020! – statement by the СЕО of Bitcoin Foundation

Liu Klaasen, who has been the Executive Director of Bitcoin Foundation since 2020, said at the Startup Grind conference in California that by the end of this year Bitcoin price will grow to $40,000. However, a large proportion of altcoins will lose in price. He is convinced that 90% of all altcoins can fall in the price, which can very likely be caused by the fact that start-UPS are trying to make absolutely new and innovative. Innovation entails risks that have a direct effect on the value of the cryptocurrency. In addition, at the same time we can expect “death” of big amount of cryptocoins which will be closely interconnected with the hype Dana and growth of fraud where the crooks promise quick earnings. And yet, Liu Klaasen believes that people will learn to understand the nature of the cryptocurrency, will cease to be conducted on the tricks of scammers, with whom the market will be able to cope.

“This is a problem that the market is able to solve well,” — said Liu Klaasen.

With regard to the issue of the Bitcoin price , he admits that for some period of time we will observe the volatility of this coin, similar to the situation in recent months, when the coin for a short period of time soared to a record $20,000 and collapsed to almost $6,000. Then, he believes, mi will be able to observe the period of conditional calm, which may be delayed for three to six months. While the value of the coin is in the “side” trend, that is, it will be impossible to see a clear direction of price movement, with the exception of insignificant jumps. Meanwhile, in the second half of the year we should expect a rise from the final price to $40,000.

“It’s not bad, because we will have time to work on the technology before the next increase,” said Liu Klaasen.

Note that, in early 2020, the leaders of the group of investment funds for cryptocurrency, expressed their beliefs in the positive dynamics of the situation when Bitcoin was still in the stage of correction. Kprimeru, Ren Neuner, founder and CEO of OnChain Capital, believes that by the end of 2020, the price of Bitcoin price will be at least $50,000.

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Bitcoin Price Predictions (2020 Update)

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Bitcoin was created in early 2009. Since then, we’ve seen its price increase from Bitcoins to the cent (circa March 2020), all the way up to $19,000+ per Bitcoin. One of the stories that illustrate this growth best is that of two pizzas, which were bought for 10,000 Bitcoins, on May 22, 2020, by a Florida developer by the name of Laszlo Hanyecz. Those 10,000 Bitcoins (at $4,000 per bitcoin) would be worth over $40 million today, pitted against the $40 or so they were worth then.

Is there any limit to this growth, and if so, where is it? While nobody knows for sure, there are plenty of anti-Bitcoiners who see the market as a bubble, ready to pop and have Bitcoin’s price fizzle back to mere cents, and plenty of pro-Bitcoiners, or Bitcoin evangelists, who see little hinderance in Bitcoin growing up to 200 times its current price. Here what those evangelists think Bitcoin will go on to be worth.

Standing Bitcoin Price Predictions

There are a handful of Bitcoin price predictions made for the mid to long term, or with no time scale at all, that are still standing today. Here are some of the most exciting predictions from Bitcoin’s most legendary evangelists.

Chamath Palihapitiya – $1,000,000 (by 2037)

Chamath Palihapitiya is the Founder of Social Capital and Co-Owner of the Golden State Warriors. His Bitcoin journey started with an investment back in 2020, and by 2020 he had included Bitcoin in his hedge fund, general fund, private account. At one point, he owned 5% of all Bitcoin in circulation.

Palihapitiya has predicted Bitcoin price will reach $100,000 in the next 3-4 years, adding that it will reach a price of $1 million by 2037. He said, “This thing has the potential to be comparable to the value of gold…This is a fantastic hedge and store of value against autocratic regimes and banking infrastructure that we know is corrosive to how the world needs to work properly

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Wences Casares – $1,000,000 (by 2027)

Wences Casares is the Founder and CEO of Xapo, a Bitcoin wallet startup, and a board member at PayPal, among various other roles. Casares first found interest in Bitcoin due to high financial volatility in his home country Argentina’s native currency, the Peso. The tech giant bought his first Bitcoins in 2020.

Casares believes that Bitcoin will hit $1 million sometime before 2027, he said at the Consensus 2020 conference in New York. Even better, he believes that Bitcoin could hit one million dollars in as few as 5 years, saying on May 23, 2020, that the milestone will be reached “in 5-10 years”.

John Pfeffer – $700,000 (no date)

John Pfeffer is a partner at London-based family office Pfeffer Capital. He’s set a bold price target for Bitcoin of $700,000—about 175 times the current Bitcoin price of nearly $4,000. Pfeffer said that Bitcoin is the world’s first viable replacement for gold.

The math for his target works like this: firstly, he assumes that Bitcoin can replace all of the gold currently held by private investors — in other words, the gold bars that people keep in safe-deposit boxes or bury in their backyard (simply as a way to park their money in something more dependable than paper). He says that “Bitcoin is vastly easier to store and secure.”

Next up, the current value of all privately held gold bullion is about $1.6 trillion. Assuming there will be 18 million Bitcoins in circulation by the time the cryptocurrency fully replaces gold bullion, the implied value of a Bitcoin would then be $90,000. This is Pfeffer’s most conservative scenario, which he gives 8% odds of coming to fruition.

Jeremy Liew – $500,000 (by 2030)

Jeremy Liew is a partner at Lightspeed Venture Partners, famed as the first investor in the social media app Snapchat. Liew’s other investments include the multimedia company Beme, the listing service VarageSale, and the hardware wallet LedgerX. His net worth is estimated at north of $2 billion.

In an exchange with Business Insider in May 2020, Liew said that the Bitcoin price can “realistically” reach $500,000 by 2030. Liew’s prediction was backed by Peter Smith, the CEO, and co-founder of Blockchain — the world’s most popular Bitcoin wallet.

Mark Yusko – $400,000 (no date)

Mark Yusko is the billionaire investor and Founder of Morgan Creek Capital. His prediction for Bitcoin is that it’ll be worth over $400,000 in the long term, a statement that made headlines because for its grandiose scale.

“It’s just math. It is gold equivalent…there are about 20 million Bitcoin available today. Gold today is about $8 trillion. That gives you $400,000. And that doesn’t include use cases that relate to currency,” Yusko said.

He also pointed out that the asset is striking fear into the hearts of bankers, precisely because Bitcoin eliminates the need for banks. When transactions are verified on a Blockchain, banks become obsolete.

Roger Ver – $250,000 (no date)

Roger Ver is an early investor in Bitcoin and related blockchain startups. Born in the US and now with citizenship in Saint Kitts and Nevis, Ver started his business career with a computer parts business, MemoryDealers.com. By early 2020, Ver had begun investing in Bitcoin, now with a portfolio including startups like Bitinstant, Ripple, Blockchain, Bitpay, and Kraken.

In an interview with Jeff Berwick, for The Dollar Vigilante blog, Roger Ver said in October 2020 that Bitcoin “could very easily be worth $2,500, or $25,000 per Bitcoin, or even $250,000 per Bitcoin”. Ver’s estimate is based on the principles of supply and demand, which he believes creates great potential for Bitcoin as a store of value.

Anthony Pompliano – $100,000 (by 2021)

Anthony Pompliano is a well-known Bitcoin personality. He’s a founder and partner at Morgan Creek Digital, a crypto-friendly asset management firm for institutional investors. He has previously claimed that he holds more than 50% of his net worth in Bitcoin, showing his belief in the cryptocurrency.

Pompliano has predicted that Bitcoin will hit $100,000 by the end of December 2021. At the time of the prediction (February 2020), Bitcoin had just reached the $10,000 mark, meaning the currency would need a 1,000% increase — within just two years — to reach his target. His prediction would put the market cap of Bitcoin at more than $2 trillion.

Kay Van-Petersen – $100,000 (by 2027)

Kay Van-Petersen is an analyst at Saxo Bank, a Danish investment bank which specializes in online trading and investment. Based out of Singapore with an MSc in Applied Economics & Finance from Copenhagen Business School, Van-Petersen is an active Twitter user with no fear of speculating on tough topics like the prices of cryptocurrencies.

Van-Petersen believes that Bitcoin will rise to $100,000 per unit by 2027, according to a feature by CNBC news published in May 2020. As the man who successfully predicted Bitcoin’s flow up to $2,000 by 2020, Kay Van-Petersen’s most recent estimate, perhaps a little optimistic, suggests that Bitcoin would then account for 10% of the volume in the foreign exchange market.

Tom Lee – $91,000 (by 2020)

Tom Lee is Co-Founder of the market strategy firm Fundstrat Global Advisors, and a well-known bitcoin bull. Lee initially set a Bitcoin price target for $11,500 for mid-2020, and then increased it to $20,000 as the cryptocurrency’s intrinsic value increased. These targets were instead achieved by the end of 2020.

He recently upped his prediction again, stating that Bitcoin’s price will reach $91,000 by March 2020, on the basis of a chart that shows Bitcoin’s (BTC) performances after past market dips. Lee and Fundstrat used an average of the percentage gained in price after each dip to arrive at the 2020 figure.

Tai Lopez – $60,000 (mid-term)

Tai Lopez is a renowned investor and internet marketing expert, famed for a viral video he had filmed in his garage. He believes that if a small portion (1%) of the assets of millionaires globally is invested into Bitcoin in the upcoming months, the price of Bitcoin could justifiably grow to around $60,000.

Given that the adoption of Bitcoin as a store of value and a medium of exchange within the global finance market is increasing exponentially, $60,000 remains a viable mid-term price target even for conservative investors. Only time will tell when/if this prediction is reached, though.

Ronnie Moas – $50,000 (2020)

Ronnie Moas is the founder and director of research at Standpoint Research, an equity research firm accounting for both traditional investments and new-time ones. Moas is an avid Twitter user and Wall Street analyst who has been featured on dozens of TV and radio interviews and holds an MBA in finance.

Moas projects that Bitcoin will reach a price of $50,000 by late 2020. He also believes that the market cap of all cryptocurrencies will burst up to a whopping $2 trillion (from the current $150 billion) within the next 10 years. Moas has also compared the wealth proposition of cryptocurrencies to that of the dot-com boom.

Andy Edstrom – $8 trillion market cap (2030)

Andy Edstrom is a wealth manager for a California-based investment advisory firm called WESCAP. He’s an investor himself, and an avid Twitter user. More importantly, he’s a definite fan of Bitcoin, constantly tweeting about the topic, and even having written a book by the title of “Why Buy Bitcoin”.

In February 2020, Edstrom made a prediction that Bitcoin would reach an $8 trillion market cap by 2030. Although he didn’t mention it, this is considered to be the approximate size of the gold market. In any case, this would put the price of a single coin at around $400,000. Interestingly, Edstrom believes Bitcoin could become the world’s default currency.

Mike Novogratz – $7.5 trillion market cap (2029)

Mike Novogratz is a former hedge fund manager who’s been investing in Bitcoin and blockchain technology for a long time. He’s made several price predictions in the past — which have been both correct and incorrect.

In March 2020, Novogratz indirectly made yet another prediction, saying Bitcoin would “easily” surpass gold’s then market cap of $7.5 trillion within 10 years. This puts his prediction very close to Edstrom’s, both in terms of timeline and magnitude.

Winklevoss Twins – $5 trillion market cap (by 2028 – 2038)

Winklevoss twins – the famous Bitcoin billionaires has said Bitcoin has the potential to of thirty to forty times its current value. That would put the Winklevoss’ estimation of Bitcoin’s future market cap at over $5 trillion. This number comes from a comparison to the $7 trillion global gold market.

Cameron Winklevoss said, “We’ve always felt that Bitcoin, given its properties, is gold 2.0 — it disrupts gold. Gold is scarce, Bitcoin is actually fixed. Bitcoin is way more portable and way more divisible. At a $300 bln market cap, it’s certainly seen a lot of price appreciation, but gold is at $6 tln and if Bitcoin disrupting gold is true and it plays out … then you can see 10 to 20 times appreciation because there is a significant delta still.”

Past Bitcoin Price Predictions (2020 Update)

We’ve just started 2020, so a number of Bitcoin price predictions have already seen their completion dates, but just how accurate were these evangelists? Here are past price predictions for Bitcoin.

Correct: Tim Draper – $10,000 (by 2020)

Tim Draper, a billionaire venture capitalist, had envisioned Bitcoin to hit $10,000 USD by 2020. Draper scored big as an early backer of Skype and Baidu. He is also an early supporter of Bitcoin and its underlying technology blockchain.

In July 2020, Draper purchased nearly 30,000 bitcoins (worth around $19 million at the time) which had been seized by the US Marshals service from the Silk Road (a marketplace website).

Correct: Mike Novogratz – $10,000 (by April 2020)

Mike Novogratz is the Bitcoin investor whose standing prediction for a $7.5 trillion market cap was covered above. Previously, Mike had correctly predicted Bitcoin’s price could rise up to $10,000 by April 2020.

By that time, Novogratz had already invested $150 million in the cryptocurrency space, having collected more funds from outside sources, mainly wealthy individuals/families and fellow hedge fund managers.

Incorrect: John McAfee – $500,000 (by 2020)

John McAfee is the Founder of McAfee Associates, which launched the first commercial antivirus software back in the late 1980s. He got involved with Bitcoin because according to him it will eventually become “the [monetary] standard for the world.”

McAfee made waves in the cryptocurrency world by claiming that each Bitcoin would be worth half a million dollars by 2020. He went on to predict that Bitcoin could even reach as much as $2.6 million in the same time frame.

Incorrect: Ran Neuner – $50,000 (by 2020)

Ran Neuner, the host of CNBC’s show Cryptotrader and the 28th most influential Blockchain insider according to Richtopia, had claimed that Bitcoin will end 2020 at the price point of $50,000.

Interestingly, The CNBC channel had been increasingly involved in cryptocurrency reporting over the past few months. On Jan. 8, the cable network aired a step-by-step tutorial on how to buy Ripple using the Poloniex exchange as a platform for the purchase.

Incorrect: Trace Mayer – $27,395 (by Feb 2020)

Trace Mayer, who according to his website, is an entrepreneur, investor, journalist, monetary scientist and ardent defender, had predicted the Bitcoin price to hit $27,000 by February 2020. Mayer has been involved with Bitcoin since its early days, initially investing in the cryptocurrency when it was worth $0.25. The host of The Bitcoin Knowledge Podcast had based his prediction on a 200-day moving average. He expected the 200-day moving average to grow rapidly up until $5,767. At which point, he believed that each Bitcoin would be worth over $27,000, increasing its relative price by 4.75 times.

Incorrect: Masterluc – $40,000 to $110,000 (by 2020)

Masterluc is an anonymous Bitcoin trader, known for his impressive predictions in the price of Bitcoin. Most notable was his prediction of the end of the 2020 Bitcoin bubble, which was then followed by a bearish market for multiple years.

Masterluc had expected Bitcoin to reach a price of between 40,000 and 110,000 US dollars by the end of the 2020 bull run, sharing his thoughts publicly on the TradingView platform. In his May 26th, 2020 post, the legendary trader said he expects the price to be reached sometime before 2020.

Incorrect: Mike Novogratz – $40,000 (by 2020)

After correctly predicting the $10,000 milestone, hedge fund manager Michael Novogratz threw out another prediction: that Bitcoin price could go four times by the end of 2020 and cross $40,000. According to him, high demand from Asia and a limited supply of the cryptocurrency had lead to cryptocurrency’s exuberant growth.

Incorrect: Thomas Glucksmann – $50,000 (by 2020)

Thomas Glucksmann, head of APAC business at Gatecoin, had seen regulation, the introduction of institutional capital, and technological advances like the Lightning Network as the main factors in rising cryptocurrency prices.

“There is no reason why we couldn’t see Bitcoin pushing $50,000 by December” he said. Glucksmann also wrote that a possible element in market growth going forward could be the release of a cryptocurrency-based ETF, similar to when BTC’s price shot up to $16,800 in Dec. 2020 after the CBOE’s futures launch.

Are we missing any important bitcoin predictions? Let us know and we will add them to the page.

What is the expected price of Bitcoin in 2021?

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Bitcoin Price Prediction 2020

The cryptocurrency market will experience a market optimism in 2020, as not only Bitcoin, but all the major cryptocurrencies will also experience an upward shift. The governments and the central banks will embrace the digital currencies, hence the demand should be more.

The first quarter will see a minor surge up to $25,000, after which it will jump up to 30,000 dollars in the third quarter. By the end of the year, Bitcoin will be valued at $33788.5.

Bitcoin Price Prediction In 5 Years

Bitcoin price prediction suggests that the Bitcoin price is up for a long-term 6.

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