“I said $1 million and I’m sticking to one”
In this Bitcoin price prediction guide, I will first give you a quick overview of what Bitcoin actually is, followed by a brief explanation of the things to consider before you invest heavily based on a price prediction guide just like this one! After that, I will then discuss some popular price predictions for the year and let you know my thoughts on each of them.
Finally, I will then discuss some of the upcoming real-world events that could affect its price movement going forward. Bitcoin allows people to send and receive funds without a third party intermediary and as such, it is a decentralized payments system. The network is controlled by no single person or authority, nor is it backed by any central bank.
In return, miners are rewarded with additional Bitcoin for contributing to the network. The technology that supports Bitcoin is called a blockchain , which is like a giant accounting book. Every single transaction that has ever been processed on the Bitcoin network is available to view on the blockchain. Furthermore, once a transaction has been added, it can never be changed or removed — which makes it extremely transparent.
When sending Bitcoin to another person, a transaction normally takes about 10 minutes. In total, the network can process about 7 transactions per second and fees depend on how many people are using the system. The Bitcoin project has been an amazing success — when it was first released in , its price was less than 1 cent. Not only this, but the creation of Bitcoin has encouraged more than 1, different cryptocurrencies to enter the market to date.
In reality, nobody can predict the future of a cryptocurrency, but if we could, we would all be billionaires. In the cryptocurrency world, prices are very volatile. This means that the value of a coin can go up or down really quickly, with often no explanation as to why.
This makes predicting prices much more difficult than traditional markets. When considering the future value of a cryptocurrency, it is always better to look at real-world events. This can include improved technology, future roadmap objectives, new partnerships or even regulations. The most important thing is that you always perform your own independent research before making an investment.
Never buy a cryptocurrency just because a price prediction excites you, or because your favorite YouTuber told you to! At the end of the day, everyone has a different opinion and there is no guarantee that anyone will get it right. So, now that you know what to consider when reading predictions, the next part of my Bitcoin price prediction is going to analyze some well-known Bitcoin predictions.
To be honest, he seems rather confident to me. McAfee claims that his prediction is based on his own price prediction model, however, nobody knows what this looks like. Market capitalization is used to work out the total value of an asset or business. It is calculated by multiplying the current market price against the total amount of coins or shares in circulation. The next Bitcoin price prediction that I wanted to discuss is by an analyst called Tom Lee.
Lee works for the cryptocurrency research organization Fundstrat and he is well-known for discussing the price performance of Bitcoin live on TV. This particular researcher is highly experienced in chart analysis. This is when you look at historical price movements of a coin and then make a future prediction based on how the coin has moved in the past.
In reality, Bitcoin is probably the only cryptocurrency that you can do chart analysis for. This is because other coins do not have enough trading volume or enough historical data, whereas Bitcoin has a track record of 9 years!
The next Bitcoin price prediction I wanted to talk to you about is a really interesting one, performed by the analyst Osato Avan-Nomayo from Bitcoinist. This prediction is based on the fact that in the Bitcoin mining reward will be halved from As you will see from the chart below, the Bitcoin mining reward has halved twice in its history.
The historical price chart shows that when these two events happened, the price of Bitcoin experienced new heights shortly after. Strajnar argues that adoption rates are increasing all the time, which includes more and more people using the network and an increase in wallets and apps. This is a good argument because as more people buy and use Bitcoin, its price will of course increase.
In fact, in countries such as Japan, there are more than , stores that you can spend Bitcoin in the real world. So, this also helps increase the price as it gives the cryptocurrency real-world usage. So, what do you think of the Bitcoin price predictions I have listed above? Do you agree with them, or are you still not convinced? I mentioned earlier that one of the most important things to consider when looking at the Bitcoin future price are real-world events, such as technical advancements and regulations.
I have listed some of the things below that could affect its price. Although Bitcoin is number one cryptocurrency in terms of market capitalization, reputation and real-world usage, the performance level of its transactions are actually quite poor.
In fact, there are many other cryptocurrencies that are faster, cheaper and more scalable. Firstly, it takes 10 minutes to confirm a transaction on the Bitcoin network. Other coins such as Ethereum can verify transactions in around 16 seconds. Secondly, Bitcoin fees are now much higher than they used to be and now cost dollars rather than cents. Thirdly, and probably most importantly, Bitcoin can only confirm 7 transactions per second. For example, NEO and Ripple are able to confirm thousands of transactions per second, so if Bitcoin is to become a global payments system then it must improve technically.
A company called Lighting Labs which has received investments from senior individuals from Twitter, PayPal, and Litecoin are very close to releasing a protocol that will significantly improve the performance of Bitcoin transactions.
Known as the Lighting Network upgrade, it is believed that the protocol could allow the Bitcoin network to increase its maximum transaction limit to millions per second. Furthermore, transactions will also be much faster and cheaper.
If the Lighting Network is successful then it should have a very positive effect on the price of Bitcoin. Even though Bitcoin has been trading for almost 10 years, regulation is still in its very early days. There appears to be a theory that when governments start regulating it, the price of Bitcoin will be negatively affected. In , Japan became the first nation in the world to completely regulate Bitcoin in the same way as its financial services industry. In fact, the Japanese government classes Bitcoin in the very same way as its Yen currency.
Since this happened, Japan now has the highest trading volume in the world for Bitcoin. People also use it every day in the real world as there are over , stores that accept it! Once other major nations follow the same regulation policy as the Japanese government, it will give Bitcoin far more legitimacy.
Not only would this mean that people start to trust Bitcoin more, but it could also allow large financial institutions to start investing. Ultimately, if this is the case, the price of Bitcoin should increase. As mentioned above, there are more than , stores in Japan that accept Bitcoin. Although there are also stores in other nations such as the USA and UK, the amount of stores is rather small. As more and more companies start to accept Bitcoin, it will allow people to start using it as an actual currency.
On the other hand, if a really popular app decided to start accepting Bitcoin as its main currency, this would also give the coin more value. Essentially, if Bitcoin can increase its real-world usage, we could see one of the really positive Bitcoin price prediction come true. Although Bitcoin has always been the number one cryptocurrency, it is important to remember that there are more than 1, different coins in the market.
Although most of these projects have been built on top of other blockchain protocols such as Ethereum, there are also lots of individual blockchains, too. There is no guarantee of which cryptocurrency will dominate in the future, so you should always research and keep on top of what other projects are doing.
Furthermore, various central banks and governments are considering releasing their own cryptocurrencies too, which could be in direct competition with Bitcoin. Before I give you my own personal opinion, I wanted to make it clear that I am not giving you financial or investment advice. Just like the predictions I discussed above, nothing is ever guaranteed. You should always make a decision based on your own research, so please consider that. Anyway, overall I believe that there will be multiple cryptocurrencies that play a major role in the future of transactions.
However, I think that Bitcoin will always be the most trusted and stable cryptocurrency of them all. Instead, I think it will act more as a store of value. Note: A store of value is where people buy an asset to keep their money safe, just like Gold and Silver, in the hope that it increases its value.
In my opinion, although Bitcoin has been around for 9 years, it is still very early days. If more countries start to regulate it as Japan did, then I think it has a really good chance of increasing its price by However, in the very near future, I think the biggest event could be the installation of the Lighting Network upgrade. However, if you bought Bitcoin in late and held it up to now, you would be significantly down.
If you believe in the ideology of the project, then it is best to hold your Bitcoin long-term, because at the moment the markets are still very volatile. If you have read it from start to finish, you should now have a really good understanding of what Bitcoin is and what it plans to achieve. Do you agree with any of these Bitcoin forecast models or do you see a different story?
If so, do you think its price will go higher, or alternatively, lower? I also discussed some of the future developments that could affect the price of Bitcoin, including an upgrade of its technology, regulations, future partnerships and its competition.
Do you agree with me that over the long-term, Bitcoin could be used more as a store of value, or do you think it will follow the original plan of its creator and be used as a medium of exchange? Whatever your thoughts are, please let me know your Bitcoin price prediction in the comments section below! Save my name, email, and website in this browser for the next time I comment. Bookmarked and shared. Thanks once again! This article gives good idea about the bitcoin prediction.
Slow processing time is the reason why bitcoin is not adopted as mode of payment by many. Because of this less and less people believe in it. Because of that the price of bitcoin is at a free fall.
Automated trading, explained
Find out what trading bot will be your best option in based on its functionality, user-friendliness, and price. Disclaimer: The opinion expressed here is not investment advice — it is provided for informational purposes. It does not necessarily reflect the opinion of U. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose. Trading bots have completely changed the playing field in the realm of crypto trading. In this article, U.
What is a bitcoin halving?
Even so, investors continue looking into the future, only slightly bothered by the current drawback. Many of them remain convinced that this is not the end of Bitcoin , and that it will rise again, just as it did every time in the last 10 years. With that in mind, many are wondering what to expect in the next year or two? Predicting the price is never easy nor accurate, and the further we go into the future, the less accurate these predictions can be. This is why we have collected the best-educated guesses of some of the biggest names in crypto, finance, and technology.
Even so, investors continue looking into the future, only slightly bothered by the current drawback. Many of them remain convinced that this is not the end of Bitcoinand that it will rise again, just as it did every time in the last 10 years. With that in mind, many are wondering what to expect in the next year or two? Predicting the price is never easy nor accurate, and the further we go into the future, the less accurate these predictions can be.
This is why we have collected the best-educated guesses of some of the biggest names in crypto, finance, and technology. Tom Lee is head of research and a co-founder of a crypto research company called Fundstrat Global Advisors. Of course, this was before total bitcoin traded in 2020 bear market and the second market crash of this year caused all this damage. Lee has also had numerous live TV appearances where he discussed Bitcoin and its price. John Total bitcoin traded in 2020 is a name known around ni world, mostly for his McAfee antivirus, however, in 200 years, im also became involved in the crypto industry.
His interesting background and unexpected price total bitcoin traded in 2020 brought him to the attention of the entire community, and he used it to make a profit by promoting ICOs. Of course, these predictions are not just guesses, and he has based them on a special price model that he has created. At the time when he made this prediction, a feat like that seemed impossible.
As we know now, BTC grew to be four times that size. Of course, some of his predictions were wrong in the opposite way. Because of this, most people are now taking his words with a grain of salt. Bitcion remains one trqded biggest BTC bulls out there, and there is no doubt that a lot of investors would like his predictions to come true.
The reason for this is a rapid rate of adoption of the number one currency, as well as trafed altcoins. Strajnar claims that more users are developing an interest in BTC all the time, meaning that the network is growing. Additional wallets are being created all the time, and the same is true for various apps and dApps. Strajnar expects that this will continue, and un usage increase will eventually bring BTC to a much higher tgaded.
Osato Avan Nomayo is a well-known Bitcoin analyst that has predicted that the mining reward will drop to 6. Bitcoin mining rewards are known for getting cut in half when a certain number of blocks has been mined, and this has already happened twice so far. Then, inthe same happened again, and BTC rewards dropped from 25 coins to only Now, Osato believes that will be the time when the next halving will occur, as it seems to be happening after every four years.
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Image courtesy of Pexels.
Bex is a young but rapid-growing exchange, less adversarial than BitMEX, but with higher leverage than Binance, Bex has enough strings to attract many crypto traders. Can they really achieve that? We conduct a comprehensive review as below to see if traxed is a trustworthy exchange.
You may find Bex doing a good job aggregating most important features traders need for a robust trading experience with better return. It is suspected to be insider manipulations by exchanges which can cost users entire portfolios.
Bexwith its bitcin TPS claimed to be over 10, orders per secondensures that the trading…. We always hear how Bitcoin is great for the financial industry, how it can remove the middleman and help you save money while you spend money. How it can provide fast transactions at any time to any place, even when you wish to send money to someone on the other side of the world.
The coin bitckin already changed countless other industries, but one of the first ones that have accepted it with open arms — and therefore one that was changed the most — is the online gaming industry. The first thing to note here is that digital currencies have found their use in online gaming thanks to microtransactions. However, it goes far beyond simply purchasing an in-game item from another player.
Bitcoin casino has become one of the new most popular places for an online gambler to visit, and for numerous reasons. Bitcoin brought increased security totzl to the financial industry, as well as online games.
Trxded is important because security is crucial for ni who http://trackmyurl.biz/bitcoin-trading-app-canada-6611.html online gambling. Blockchain has caused quite a stir in recent years. The arrival of blockchain is causing a stir at Deloitte.
Connect with us. Share Tweet. Continue Reading. You may like. Will Bakkt Push Bitcoin into the Mainstream? Bitcoin recovery services — Pros and Cons. Trader to comment. Published 2 weeks gitcoin on December 5, By Globalcoin.
Published 2 weeks ago on December 4, Published 3 weeks ago on November 28, By Dmytro Spilka. Cryptocurrency Markets by TradingView. Latest Trending. Hot Updates 3 days ago. Hot Updates 1 week ago. Bitcoin 2 weeks i.
Blogs 2 years ago. Trade 2 weeks ago.
Automated trading, explained
August — Bitcoin Cash forks from the Bitcoin Network. CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. How to Store Bitcoin. These fees, while today representing a few hundred dollars per block, could potentially rise to many thousands of dollars or more per block as the bitcoinn of transactions on the trade bitcoin robot grows and as the price of a bitcoin rises. Tom Lee stated that the BTC fair value is much higher than the current price. When considering the future value of a cryptocurrency, it is always better to look at real-world events. Bitcoin Mining Rewards. Related Terms Genesis Block Definition Genesis Block is the name of the first block of Bitcoin ever mined, which forms the foundation of the entire Bitcoin trading. This is by no means guaranteed to increase — or even remain steady — as it has fluctuated wildly in the past. It's impossible to know exactly. Furthermore, various central banks and governments are considering releasing their toyal cryptocurrencies too, which could be in direct competition with Bitcoin.