- Shervin Pishevar – $100,000 (by 2022)
- Analyzing Bitcoin’s Price History
- Understanding and Predicting Changes in Bitcoin Price
- Support trusted Bitcoin-only onramps and start buying Bitcoin today
- Bitcoin Price Table, 2010-2021 (Monthly)
- Mike Novogratz – $7.5 trillion market cap (2029)
- Past Bitcoin Price Predictions (2020 Update)
- How Much was 1 Bitcoin Worth in 2013?
- Mark Yusko – $400,000 (no date)
- Tai Lopez – $60,000 (mid-term)
- Shifts in the Global Economy
- How Much was 1 Bitcoin Worth in 2011?
- Conclusion: BTC Price Forecast and Long-Term Price Predictions
- Experts Share Their Thoughts on Bitcoin Future
- How Much was 1 Bitcoin Worth in 2017?
- Kay Van-Petersen – $100,000 (by 2027)
- Страх и жадность в торговле: советы трейдеров
- Данные для определения Индекса страха и жадности
- Who invented Bitcoin?
- Bitcoin Price History
- The History of Bitcoin Price Action
- Software, Hardware & Apps
- Roger Ver – $250,000 (no date)
Shervin Pishevar – $100,000 (by 2022)
Shervin Pishevar is a venture capitalist and angel investor who co-founded Hyperloop One and Sherpa Capital. He has also made investments in several companies including big names such as AirBnb and Uber.
Pishevar has called for Bitcoin to reach $100,000 by the end of 2021 via Twitter. The prediction came not long after a December 2020 meeting with MicroStrategy CEO Michael Saylor, whose company invested more than $1 billion in Bitcoin during 2020.
Given his meeting with Saylor and his previous predictions of a decline in the US economy, it’s no surprise that Pishevar has become bullish on Bitcoin.
Analyzing Bitcoin’s Price History
Bitcoin’s novelty as an asset class means that its story is still being crafted. Its price has mostly mimicked the classic Gartner Hype Cycle of peaks due to hype about its potential and troughs of disillusionment that resulted in crashes. In the cycle’s structure, speculative bubbles are necessary to provide funding and drive a new technology’s evolution. And so, each swell and ebb in Bitcoin’s price has shone a spotlight on the shortcomings of its ecosystem and provided a fresh infusion of investor funds to develop its infrastructure.
Previous analysis of Bitcoin’s price made the case that its price was a function of its velocity or its use as a currency for daily transactions and trading. But crypto trading volumes are a fraction of their mainstream counterparts, and Bitcoin never really took off as a medium of daily transaction. This is partly due to the fact that the narrative around Bitcoin has changed from a currency to a store of value, in which people buy and hold for long periods of time rather than use it for transactions.
Understanding and Predicting Changes in Bitcoin Price
Bitcoin is digital currency, so it’s subject to go up or down in value just like any other currency. Read on to learn how you can predict Bitcoin price changes.
Who hasn’t heard about Bitcoin?
Early in March of 2017, the so-called «crypto-currency» was more valuable than gold in the world markets.
Except for 2014, Bitcoin has been the top-performing currency every year since 2010.
With huge value, major investors, and global economic turbulence many newcomers are wondering how they can get in on the action.
And, as some longtime Bitcoin users watch they wonder exactly what market trends and global activities could impact Bitcoin price.
Whether you’re just getting started or have a fat Bitcoin wallet you’re hoping will increase in value, we’ve put together a list of items to help you understand and predict Bitcoin price.
Ready to make a bundle in the hottest currency in the world? We’ll tell you what to watch out for.
Master this list and you might just get rich.
Support trusted Bitcoin-only onramps and start buying Bitcoin today
As businesses realize the benefits of going Bitcoin-only, we’ll see more and more legit Bitcoin investment sites focused exclusively on Bitcoin.
This trend will likely continue as Bitcoin-only companies will outcompete companies who are spread too thin supporting 100s of illiquid tokens.
Here at Swan Bitcoin, we highly recommend two things:
- Investing in your personal Bitcoin education (we recommend our Swan Signal blog and Swan Signal Live podcast).
- Setting up an automated recurring Bitcoin purchase. For example: Every Saturday, you buy $50 worth of Bitcoin.
Be sure to sign-up at SwanBitcoin.com/signup.
P.S. After you join, make sure you pass around your unique referral link. Both you and your friends will receive $10 worth of free Bitcoin for each person who signs up (limited time offer).
Bitcoin Price Table, 2010-2021 (Monthly)
Ian Webster is an engineer and data expert based in San Mateo, California. He has worked for Google, NASA, and consulted for governments around the world on data pipelines and data analysis. Disappointed by the lack of clear resources on the impacts of inflation on economic indicators, Ian believes this website serves as a valuable public tool. Ian earned his degree in Computer Science from Dartmouth College.
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 2019, 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.
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.
How Much was 1 Bitcoin Worth in 2013?
Bitcoin Price during 2013
2013 saw the first major spike in the price of Bitcoin since 2011. From $13.00 at the beginning of the year, Bitcoin hit nearly $250 in April. It then cooled off for a while, before experiencing another rapid appreciation to over $1,100 in December of that year.
Bitcoin punched through $100 easily, though $1,000 proved to be a tougher psychological resistance level. Despite reaching prices that early Bitcoiners had only ever dreamed about, it took more than three years for the price to reach $1,000 again. The drawdown reached -85% at its bottom and the price of Bitcoin was relatively flat for years.
Bitcoin’s record-breaking run pushed the cryptocurrency’s market capitalization over $1 billion for the first time ever. It also attracted a lot of attention. In February of 2013, Coinbase reported selling more than $1 million worth of Bitcoin at an average price of $22.
The world’s first Bitcoin ATM was installed in Vancouver, allowing people to turn their cash into crypto.
The internet’s first cryptocurrency also gained some notoriety after the People’s Bank of China prohibited Chinese financial institutions from transacting in Bitcoins. This came in December 2013 and led to the shutdown of BTC China — at that time the world’s largest Bitcoin exchanges — and a sudden drop in price.
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.
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.
Shifts in the Global Economy
Acceptance by institutions affects Bitcoin price. So does the acceptance of people from different countries. The instability of global markets and politics can have a major impact on Bitcoin price.
In addition, the instability of global markets and politics can have a major impact on Bitcoin price.
Take for example:
- The volatile economic climate in Venezuela where the government actually outlawed its own currency in 2016.
- India’s decision to ban large currency in an attempt to curb crime.
- European isolationism and the recent US Presidential election have also given world markets increasing uncertainty.
Many economic experts note this trend toward lack of government trust and national isolationism as a problem for the global economy. As Bitcoin is an international currency it offers a stable possible solution.
This offer of a solution can increase Bitcoin price.
How Much was 1 Bitcoin Worth in 2011?
Bitcoin Price during 2011
Bitcoin’s adoption started to pick up steam in 2011. The Electronic Frontier Foundation (EFF) accepted Bitcoins as donations for a couple of months in 2011. Due to lack of legal precedent surrounding virtual currencies this arrangement was quickly rescinded, though this was later reversed in 2013 when the EFF began accepting Bitcoin again.
On February 9th, 2011, BTC reached a value of USD$1.00 for the first time ever. A few months later, in June, the price of one Bitcoin hit $10, then $30 on Mt. Gox. This represented a 100x appreciation since the beginning of the year, when the price of Bitcoin hovered around $0.30.
By the end of the year Bitcoin was trading just under $5, but at least two important psychological barriers had been broken.
Conclusion: BTC Price Forecast and Long-Term Price Predictions
Considering all of the massive price projections and forecasts from industry experts that suggest Bitcoin will someday replace all currencies across the globe, it’s easy to see what so many are bullish on Bitcoin, and why Bitcoin price predictions can reach such high numbers, ranging from thousands to even over $1 million dollars per BTC.
The revolutionary technology has sparked an entire industry aimed at disrupting traditional finance, and cryptocurrencies are already well on their way to widespread adoption and regular use by the mainstream public.
Bitcoin is accepted most places these days, and can even be purchased at grocery stores through Coinstar machines. It is now offered through PayPal, Venmo, and the likes of VISA are now supporting it. Institutions and corporations are now investing in BTC.
However, given the price predictions in this article, it’s never too late to invest in or trade Bitcoin and take advantage of its volatility.
The below prediction chart outlines some of the minimum and maximum BTC price forecasts offered by technical analysts and industry experts in an easy to digest format.
Give the lows and highs in recent years, as well as the lows and highs predicted by industry analysts and experts, it’s easy to see how opening a short or long position using 100x leverage to trade Bitcoin’s volatile price swings can be extremely profitable, and even more profitable than investing itself.
Traders can take advantage of such tools provided by trading platforms like PrimeXBT, and open positions with up to 100x leverage on the BTC/USD pair. BTC is also paired with other altcoins such as Ethereum, Litecoin, Ripple, and EOS. PrimeXBT also offers traditional assets such as the most popular forex currencies, commodities, stock indices, and spot contracts for gold and silver.
With Bitcoin about to take off on yet another bull run, the opportunity to profit has never been greater. And with Bitcoin price expected to reach $100,000 to as much as $1 million per BTC, it’s never too late to get started trading Bitcoin.
The information provided does not constitute, in any way, a solicitation or inducement to buy or sell cryptocurrencies, derivatives, foreign exchange products, CFDs, securities and similar products. Comments and analysis reflect the views of different external and internal analysts at any given time and are subject to change at any time. Moreover, they can not constitute a commitment or guarantee on the part of PrimeXBT. The recipient acknowledges and agrees that by their very nature any investment in a financial instrument is of a random nature and therefore any such investment constitutes a risky investment for which the recipient is solely responsible. It is specified that the past performance of a financial product does not prejudge in any way their future performance. The foreign exchange market and derivatives such as CFDs (Contracts for Difference), Non-Deliverable Bitcoin Settled Products and Short-Term Bitcoin Settled Contracts involve a high degree of risk. They require a good level of financial knowledge and experience. PrimeXBT recommends the consultation of a financial professional who would have a perfect knowledge of the financial and patrimonial situation of the recipient of this message and would be able to verify that the financial products mentioned are adapted to the said situation and the financial objectives pursued.
Several experts have weighed in on their short and long-term price expectations for Bitcoin price. Here are some of the most popular Bitcoin price forecasts from top crypto industry experts.
Max Keiser, Financial Analyst and Host of The Keiser Report
Max Keiser, investor, and host of the Keiser Report calls for $100,000 Bitcoin in the short term, but $400,000 in the long-term.
Keiser is one of Bitcoin’s most outspoken bull, calling for $100,000 since the asset was trading at just $1. His new $100,000 target though is for the end of 2020, meanwhile, $400,000 is a long-term goal due to the coronavirus and a comparison to gold.
“I am officially raising my target for Bitcoin — and I first made this prediction when it was $1, I said this could go to $100,000 — I’m raising my official target for the first time in eight years, I’m raising it to $400,000,” Keiser said.
Robert Kiyosaki, Entrepreneur, Investors, and Best-Selling Author
Robert Kiyosaki, New York Times bestselling author of the book Rich Dad, Poor Dad has been recommending his followers buy gold and Bitcoin. He calls for gold to reach $3,000 an ounce, and Bitcoin to reach $75,000.
Plan B’s Stock-to-Flow Model Based on Scarcity
The popular Stock-to-Flow model created by Bitcoin expert Plan B which uses the asset’s digital scarcity to estimate price valuations in the future. The model shows Bitcoin reaching as high as $288,000 in the next cycle peak, which should take place over the next couple of years.
Adam Back, Bitcoin Developer and CEO at Blockstream
Bitcoin developer and early electronic cash pioneer Adam Back says that Bitcoin should reach as high as $300,000 over the next several years.
“ might not require additional institutional adoption because the current environment is causing more individuals to think about hedging retaining value when there’s a lot of money printing in the world,” Back told Bloomberg.
How Much was 1 Bitcoin Worth in 2017?
Bitcoin Price during 2017
2017 is a year that lives in crypto history. As you can see in the chart above, the year saw a steady appreciation in the price of Bitcoin followed by a huge blow-off top to nearly $20,000.
This 1,300% increase in price wasn’t the largest yearly growth – that title belongs to 2013 with its 6,600% gains – but it was the first time that Bitcoin truly broke into the mainstream of public opinion.
A $19,000 Bitcoin is impossible to ignore.
Bitcoin once again broke the $1,000 resistance on January 1st for the first time in three years, and after the 28th of March it never revisited that level.
The massive appreciation in price over the course of 2017 was driven in part by strong retail interest in the cryptocurrency. Trading volume on Bitso — Mexico’s leading exchange — grew 1,500% in the six months ending March 2017. Poloniex experienced 600% growth in the number of active traders on its platform throughout the year.
Despite the huge increase in price and subsequent attention paid to Bitcoin, 2017 was not without difficulty for the cryptocurrency. This was the year of one of the most contentious and hotly-debated events in Bitcoin history: the Bitcoin Cash hard fork.
While many were concerned about the effects of this fork on Bitcoin, with the benfit of four years’ hindisght its safe to say that Bitcoin Cash lost the war it started. Today, its market capitalization is less than 1% of Bitcoin’s.
On December 11, Bitcoin futures trading opened at the Chicago Board Options Exchange, the largest U.S. options exchange. Bitcoin rallied 12% that day, though its stellar run came to an end just five days later. The high of $19,000 would not be broken for almost three more years.
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 2017. As the man who successfully predicted Bitcoin’s flow up to $2,000 by 2017, 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.
Bitcoin is the first cryptocurrency to ever be created, sparking the birth of an entire industry and thousands upon thousands of altcoins to be created in its image.
Not only is Bitcoin the first of its kind, but it has been designed to disrupt and replace paper-based fiat currencies to become the global digital currency used by the entire population, regardless of what country or region they live in.
Because Bitcoin is so powerful and has so much potential, Bitcoin’s projected value and estimated growth could be astronomical. Speculation from crypto analysts and industry experts suggests that Bitcoin’s long term value could reach over $100,000 to as much as one million dollars per BTC in the future.
But when will Bitcoin reach such prices? This BTC price prediction guide will help investors answer questions like “how high will Bitcoin go” and “what could Bitcoin be worth in 10 years.”
Страх и жадность в торговле: советы трейдеров
Мы уже разобрались, что страх и жадность являются двумя главными движущими эмоциями на рынке. Страх рождается при возникновении мыслей о том, что сделку не получится открыть вовремя или, например, придется закрыть раньше, ещё до достижения стопа или лимита.
Жадность, аналогично страху, может воздействовать на принимаемые в торговле решения: заставлять увеличивать кредитное плечо, играть по-крупному, игнорировать риски. Самый простой способ для контролирования страха – не рисковать суммой больше той, с которой вы можете комфортно расстаться. У одних маржинальных трейдеров это может быть 1-2% от всего капитала, у других – 5-10% и даже более.
Необходимо понизить свое отношение к вкладываемым деньгам до уровня «а нам всё равно», чтобы потом не испытывать приступы паники при неожиданных колебаниях курса. Следует торговать и соображать в рамках выбранной стратегии, не обращая внимания на прошлые неудачи в недавних сделках. При этом не стоит заимствовать чужие стратегии, поскольку то, что работает у других, может не подойти вам.
В разработке плана торговли следует учитывать не только уровень индекса жадности и страха cnn, но и персональные факторы, включая образ мышления, опыт торговли, образование и стрессоустойчивость. Также не забывайте по мере изменения ситуации на рынке вносить адаптационные правки в свою стратегию.
Начинающим трейдерам первые несколько лет стоит вести личный торговый журнал для учета и анализа совершенных сделок. На основе полученной информации можно совершенствовать свою стратегию и придумывать новые, более действенные решения. Кроме того, так вы сможете собрать список своих самых частых ошибок, от которых нужно избавиться. Из общих советов начинающему криптотрейдеру следует выделить:
- Используйте одни финансовые инструменты до полного овладения ими.
- Торгуйте регулярно в установленные периоды.
- Устанавливайте один % на все начальные сделки.
Данные для определения Индекса страха и жадности
Теперь, когда мы узнали, что представляет собой данный индекс, и какую информацию о рынке он может сообщить, пора разобраться с его составляющими. А точнее – выделить параметры, которые определяют уровень страха или жадности. Каждый из них оценивается поденно одним и тем же методом, чтобы наиболее четко отразить положение дел на рынке и текущие настроения. Сейчас инструмент успешно применяется для биткоина, но предполагается разработка отдельных индексов для самых популярных альткоинов в ближайшем будущем. Для определения значения индекса страха и жадности в расчет берутся следующие факторы:
- Волатильность BTC;
- Объем торгов на рынке + импульс;
- Упоминания в социальных медиа;
- Попадание в тренды Google;
- Данные опросов;
- Доля BTC на рынке.
Измеряется текущая волатильность и максимальные просадки BTC, производится сравнение с соответствующими средними значениями за последние 30 и 90 дней. Необычный всплеск волатильности – это признак «пугающего» рынка.
Импульс / Объем рынка (25%)
Измеряется текущий объем и рыночный импульс (опять же по сравнению со средними показателями за последние 30/90 дней), затем эти два значения соотносятся. Как правило, если ежедневно на фоне позитивных условий на рынке фиксируются высокие объемы покупок, это означает, что игроки рынка проявляют излишнюю жадность (ведут себя слишком по-бычьи).
Социальные сети (15%)
На данный момент этот параметр определяется анализом в Twitter. В этой соцсети собираются и подсчитываются сообщения с различными хэштегами по каждой монете; затем анализируется, насколько быстро и активно пользователи реагировали на эти сообщения за определенные периоды времени. Необычно активная реакция приводит к росту интереса общественности к монете и, на взгляд разработчиков, отражает жадность игроков рынка.
Совместно с платформой strawpoll.com разработчики Индекса жадности и страха проводят еженедельные опросы и узнают, как люди воспринимают текущую ситуацию на рынке. В каждом опросе принимает участие 2000-3000 человек, и таким образом формируется представление о настроении крипто инвесторов.
Доминирование монеты – это что-то похожее на долю монеты в общей рыночной капитализации. В случае с Биткоином: разработчики считают, что рост доминирования Биткоина вызван страхом чрезвычайно спекулятивных инвестиций в альткоины, поэтому Биткоин становится все более безопасным инструментом сохранения капитала. И наоборот, когда доминирование BTC уменьшается, это значит, что люди проявляют излишнюю жадность, вкладывая деньги в более рискованные альткоины, мечтая о возможности поучаствовать в новом крупномасштабном бычьем ралли. Стоит отметить, что рост доминирования любого альткоина, наоборот, вызывает больший интерес к монете и может привести к чрезвычайно бычьему / жадному поведению на рынке этой конкретной монеты.
Анализируются данные Google Trends по различным поисковым запросам, связанным с Биткоином
Особенное внимание уделяется изменению объемов поисковых запросов, а также рекомендуемым и популярным запросам на данный момент. Например, проверка слова «Биткоин» в Google Trends всего лишь отразит популярность запроса (объем поисковых запросов)
Но, например, на данный момент (29.05.2018) количество запросов «манипулирование ценой Биткоина» в смежном разделе увеличилось на 1,550%. Это явный признак страха на рынке, и этот факт отражается в показателе индекса.
Who invented Bitcoin?
There is some mystery around who should get credit for inventing Bitcoin. The idea was first described in a white paper written under the pseudonym Satoshi Nakamoto. As of this writing, the true identity of the writer is still unknown. It is not even known if Satoshi Nakamoto is an individual or a group of people.
The white paper, published in October 2008, describes how the peer-to-peer digital currency would work. The writer proposed that transactions could be handled in batches and then secured using a cryptographic algorithm. These batches would be called “blocks,” and they would be linked together in a chain. This is where the term “blockchain” comes from.
The currency was then launched in January 2009, when Nakamoto mined the first block of Bitcoin. While Nakamoto is credited with inventing and launching Bitcoin, several others have worked to improve the code and increase security. The Bitcoin source code is currently housed on GitHub and lists the names of many of the key contributors who have been maintaining and updating the code.
Bitcoin Price History
When bitcoin first emerged on the market, the currency had virtually no value. During this time, the currency was mainly mined and “enjoyed” by hobbyists. It was not yet seen as carrying enough value to purchase items one might otherwise acquire with traditional currency. Price indices for the digital currency did not exist at this time and bitcoin had not garnered nearly as much public interest as the cryptocurrency carries now.
The first real-world transaction involving bitcoin occurred on May 18th, 2010, when a bitcoin holder paid 10,000 BTC for two large pizzas from Papa John’s. The payment this user made would now be worth $3.7871 million US dollars. To contrast, a large pizza at Papa John’s currently costs $11.75 US dollars.
Slowly, the price of bitcoin continued to rise, becoming equal to the US dollar in Feb. 2011. In other words, bitcoin had risen from a value so minuscule that it could not actually be measured to being equal to one of the strongest currencies in the world. Shortly after that, the cryptocurrency rose to $31 USD on July 8th, 2011. After this, the currency’s bubble popped and bitcoin’s value plummeted. In Dec. 2011, the currency was valued for as little as $2 USD. This was the lowest point that the currency fell to before rising the $13 USD mark during Dec. 2012.
2013 was a landmark year for the value of bitcoin relatively to the US dollar. The currency rose to a price of $266 USD on Apr. 11th, 2013 before falling to a mark of $70 USD in June. The currency’s rise and subsequent fall demonstrates a trend for the cryptocurrency where the value rises to a new high before falling to a figure that, while disappointing when compared to the new high, remains substantially higher than the previous figures.
Bitcoin then proceeded to spike to its all-time high figure in Nov. 2013. However, the currency fell from a price of $600 USD in Dec. 2013 before returning to a figure of $1,000 USD by the end of the year. The price continued to fluctuate within that range before falling to a mark of $550 USD after the Mt. Gox incident, which damaged investor confidence in the cryptocurrency. Shortly after that, the currency fell to a mark of $350.52 USD on Apr. 11th, 2014, its lowest market since the Mt. Gox incident.
After having a relatively stable period during the summer of 2014, a time during which increased discussions involving the potential regulation of the currency had begun within traditional finance circles. The currency was valued above the $500 USD mark for most of the period of June 1st to Aug 30th. However, the currency fell to a figure of $478.07 USD on Aug. 31st, 2014. Since falling to that mark, the value of bitcoin continued to decline to below the $375 USD mark. Since then the price of Bitcoin has had huge gains reaching its peak in December 2017 at $20000 on some exhanges. In January 2018 a sharp correction ensued leaving the crypto currency hovering around $12000. As it is becoming more mainstream, more and more people and institutions are looking to buy bitcoin which may prove 2018 another exiting year for the first decentralized currency.
The History of Bitcoin Price Action
Bitcoin price today is trading at around $31,000, but given how volatile the asset is and its propensity to go on parabolic runs, Bitcoin price tomorrow could double from here or correct by another 80%.
Bitcoin started off its life virtually worthless, with a value of far less than a penny when the Bitcoin Core client code was released into the wild. Years later, it began trading at over $1,000 and started to be considered as a serious financial asset with long term potential.
In 2017, Bitcoin potential took the world by storm, as many became rich beyond their wildest dreams once Bitcoin reached its now former all-time high of $20,000 per BTC coin. Mainstream media ran BTC news story after story, causing retail investors to rush into buying the asset.
But once 2018 hit, a major Bitcoin trend change occurred, and the price started going down. Due to how volatile Bitcoin is, market price retraced as much as 80% down to $3,000 where it eventually bottomed, leaving many wondering “will Bitcoin go up in value ever again?” Others knew Bitcoin will rise again, and opened long positions at the bear market bottom.
At the start of 2019, Bitcoin growth returned once again, and a powerful rally took Bitcoin price back out of the bear market lows, and above $10,000 to $14,000 before falling back down to $6,500.
In 2020, the Black Thursday crash took Bitcoin to under $4,000. But the stimulus efforts put forward by the US and other nations to combat the pandemic, inflated the money supply significantly putting Bitcoin in the financial spotlight.
The cryptocurrency went into another uptrend in 2021 and set a new all-time high at $65,000. Bitcoin since crashed by more than 50% back to the low $30,000 range where it is currently trading now for months.
Software, Hardware & Apps
Since the fixed supply of Bitcoin impacts price, how does somebody get to the supply?
As Bitcoin is a network currency tools are required for earning, possessing, trading, and mining the currency. For example, software for Bitcoin includes Bitcoin wallets, mining pool programs, review apps, and cloud computing options for trading.
In addition, many providers offer hardware products for Bitcoin mining.
While each of these tools can be helpful in Bitcoin investing, the tools themselves can impact price fluctuations.
Ease of access for more users means more trading. And more trading likely results in a smaller supply.
With the development, adoption, and approval of tools, there is likely to be an increase in Bitcoin price.
The more people who are comfortable using and exchanging Bitcoin, the higher the price.
Conversely, if people are uncomfortable or intimidated by the tools trading can decline.
As the price history outlined above shows, bitcoin’s value is extremely liquid. The pricing history suggests that the currency’s value will continue to fluctuate over time. However, the low end of each fluctuation has thus far appeared to place the value of the currency at a higher mark that it had previously held.
While it appeared as if bitcoin’s pricing was about to stabilize at the $500 mark during the summer of the 2014 calendar year, the currency has since fallen to lows not reached since Apr. 2014. The currency’s volatility should continue to scare off investors, despite the potentially high reward an investment in bitcoin might yield. In later years, Bitcoin has proved skeptics wrong time and time again as it has risen to new highs year after year with some serious corrections along the way. We continue to follow the developments closely in 2018 and beyond. Be sure to follow our analysis with frequent Bitcoin price news.
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 2011, 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 2015 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.
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