The bitcoin market has undergone big ups and downs in recent years. It’s the same with the other cryptocurrencies. For many people, Bitcoin is unpredictable. Today, it might reach the highest point, but tomorrow, it might reach the lowest point.
The unpredictability of Bitcoin has become the primary concern for many traders, such as stock traders, which is why many of them are still reluctant to get their hands on the cryptocurrency market.
However, because of the unpredictability of the market, there are also various price predictions coming from experts or prominent figures, each with their own opinions about this cryptocurrency.
Some predictions might have affected the current market price somehow, while some others remain to be just empty predictions.
Here, you’ll find the biggest Bitcoin price predictions from different sources.
Will Bitcoin Price Predictions Change the Current Bitcoin Market?
The answer is no. Bitcoin price predictions will not change the current Bitcoin market. The current Bitcoin market will move on its own, and various factors will affect its movements.
These predictions are just predictions from the experts or some popular figures about their insights regarding this cryptocurrency. It is how they see the movements of the market, and it is how they see the possibility that can happen in the Bitcoin market in the future.
Some influential people might make some comments about Bitcoin and other cryptocurrencies, and it might move the market in a big way.
However, while this might happen, it is often just temporary. As a crypto trader, you are the one who must take responsibility for your own investment in Bitcoin, and you need to have your own insights about how this market will move in the future.
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How Investors Should Deal with Bitcoin Price Predictions
For crypto traders, it is best for them to treat the Bitcoin price predictions just as predictions, which might or might not change the current Bitcoin market.
Some popular people might say something about this cryptocurrency, but still, the market itself is what will determine if what they say is correct. We never know until time passes and see if it becomes a reality.
Some outrageous predictions are out there, and sometimes, it might look believable for now. You might believe in those predictions or not, but the best way to deal with Bitcoin investment is to have some kind of strategy for you to profit with it, whether short or long term.
Just like any investment asset, everything can happen in an instant, and you also need to prepare for it as well.
Prediction #1 – BTC Can Reach $100,000 by the End of 2021
The first prediction comes from Bloomberg from their Crypto Outlook section. In this prediction, Bitcoin will become the cryptocurrency that might reach quite a significant gain in the year 2021.
By year-end, they predicted this cryptocurrency might reach $100,000 value per BTC. Compared to today’s value (as of July 2021), the rise to $100,000 by year-end would mean that this cryptocurrency will have over 200% increase in value.
Of course, Bloomberg has done their research, so this prediction is not just a lip service. They said that Bitcoin would end up rising in value to $100,000 rather than fall back to around $20,000 this year. This is something that crypto traders need to keep in mind.
Prediction #2 – Ethereum Might Flip Bitcoin
Another prediction is that Ethereum might flip Bitcoin in the coming years. This prediction comes from Nathan Cox, the chief investment officer at Two Prime.
He predicted that while the value of Ethereum is way below the value of Bitcoin today, Ethereum has the market capitalization that is very significant, which is almost half of the market capitalization of Bitcoin.
Further, the prediction compares Bitcoin as the digital gold, with Ethereum as the digital oil. More and more people become interested in buying Ethereum, which given enough time, might make it flip the Bitcoin domination in the cryptocurrency market.
Ethereum keeps on gaining popularity despite its lower value per ETH as compared to Bitcoin, but it seems to have a bright future that might topple Bitcoin someday.
Prediction #3 – Bitcoin Will Reach $250,000
The third prediction is perhaps one outrageous prediction for the future of Bitcoin. Tim Draper is the one making this prediction. He is a Bitcoin investor and also a billionaire venture capitalist that has become an expert in his field.
He predicted Bitcoin will reach the value of $250,000 for 1 BTC in early 2023 or at the end of 2022. This might be a bold claim, but it comes from an expert who has been around in the investment field for years.
Tim Draper said that he thinks he is making the right prediction on this one. He said, though the value might not be $250,000 per se, Bitcoin will go in that direction in the coming years.
This cryptocurrency might have already experienced various swings in the last few years, which might keep the visitors vigilant of the next big swing of Bitcoin.
So, who knows if Bitcoin will reach an all-new height in the coming years, even as high as $250,000? It might still be a prediction and speculation, but any good crypto traders should note this potential big swing, and they should prepare an excellent strategy in their Bitcoin investment for the years to come.
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Conclusion
These are the 3 big Bitcoin price predictions we have come across in recent times. Sure, this cryptocurrency is still leading the market with its highest value overall.
But it is also worth noting that other cryptocurrencies might take the spotlight as well, such as Ethereum. Ethereum is gaining more popularity nowadays, and it is one of the traders’ most favorite cryptocurrency assets.
Bitcoin is still swinging up and down, and as a crypto trader, you need to notice its movements with watchful eyes. It might go up high in value in the coming months, but remember, it might have the potential to fall down low in value as well.
It is best for you to get a good investment strategy for Bitcoin and other cryptocurrencies because as they carry high potentials, they also carry high risks. If not, at least you have to make use of trading software like bitcoinup-pro.com/ms to automate your trading strategy.