List of factors-indicators of multiple growths of the main cryptocurrency in the future
Bitcoin price has risen by 23% in the last 14 days. The BTC price is going up after the May collapse. Recall that then its rate decreased by more than 33% in 1 day. Before that, there was a historical maximum above $ 64 thousand for 1 BTC in mid-April. At the beginning of August, the cost of bitcoin is confidently going up to 40 thousand dollars.
Experts are now expressing their opinion about the undervalued position of bitcoin right now. They assume an increase of up to $ 700,000 over 10 years. This is more than 1,500 percent of the current figure. Every smartphone owner will use Bitcoin after a decade.
700 thousand dollars is not the limit of forecasts. Some have hinted at the chances of Bitcoin reaching $ 1 million. Is this real? Experts explain the basis for such predictions.
Development and growth
First of all, there is a probability of reaching 700 thousand dollars in 10 years. This is the main thesis of the experts. Bitcoin’s popularity will continue to grow. The emergence of adequate regulation of the crypto market will attract a huge flow of new participants.
The development of technologies and the emergence of various promising blockchain projects will make working with bitcoin easier and faster. Something new appears every day.
As proof, no one believed in 60+ thousand dollars for 1 BTC until 2021, but it happened. The risks remain too. The story with the ban on mining in China and the collapse of quotations in May shows this.
The objective price of bitcoin in the long term is $ 500,000, experts agree. The main question lies in a slightly different plane. It will be half a million fiat dollars or digital dollars.
No fiction here
By the way, the growth to 700 thousand dollars for 1 BTC will not be an accident. This is the most important thesis of expert research. That is, it will be stable and visible growth without a chain of incredible coincidence of the necessary conditions.
This is a very real and feasible goal for Bitcoin, which has already exceeded $ 60,000 this year. In 10-15 years, reaching $ 700 thousand is a real scenario for bitcoin. He is not overly positive in doing so.
Such a forecast reflects the need for a digital independent currency for retail and institutional investors.
On the horizon of 10-15 years, there will be shifts within the entire cryptocurrency market. During this time, the capitalization of bitcoin will reach a level of $ 5 trillion. At the same time, it will not have the largest capitalization among digital money.
Someone else will take this place according to the experts. The number of institutional participants will grow by an order of magnitude in 10 years. Also, soon we will see the launch of exchange-traded funds for bitcoin, and global regulators will become more significant.
Bitcoin will gradually acquire the status of an investment exchange commodity. Its payment functions will become meaningless. Everything is connected with the technical imperfection of bitcoin. This includes low network bandwidth combined with regulatory risks. Bitcoin is unlikely to be able to become part of the global financial system.