Bitcoin Price Prediction by the market
Coinnounce’s Bitcoin Price Prediction
With a market capitalization of $165,055,232,938 at the time of writing, Bitcoin is the biggest cryptocurrency in the world, and it dominates the market. A slight change in the Bitcoins price affects the other cryptocurrencies as well, which gives us the idea of how volatile the market is for cryptocurrencies.
Predicting the accurate price for Bitcoin is impossible. Yet, our team of analysts has tried their best to understand the current and historical market trends to churn out some price predictions for Bitcoin. Let’s look at them:
Bitcoin Price Prediction 2020
Amid all the controversies, Bitcoin has maintained its value and respect in the global market as it is still being used for sending payments and for trading purposes. 2020 will bring some significant changes to the Bitcoin community. Facebook is planning to launch its digital currency known as Libra in 2020. With Facebook’s user base of more than 2 billion, Bitcoin will show some changes in the market.
Bitcoin is currently facing a slight downward correction, but in the coming year, the price will go up and reach the $11,000 levels and then decline from there. By the end of 2020, we can expect the price to go beyond $11,000 and end the year with a bullish trend in the charts.
This is the year of Bitcoin halving, so the miners might work harder to gain maximum rewards for the mining process before it gets reduced.
Note: Bitcoin halving will take place in May 2020, which will decrease the miner’s reward from 12.5 BTC to 6.25 BTC.
Bitcoin Price Prediction 2025
The next years will be crucial for Bitcoin as the governments have been planning to launch and work on their digital currencies. These next five years will tell us about the potential of the market and how the governments react to the cryptocurrency. A positive response from the governments will take the price higher as the demand for the cryptocurrency will increase.
This increase in the demand for the coin can take the price to $25,000-$35,000 by the end of 2025. Bitcoin will continue to be in the first position in 2025, with no other cryptocurrency in competition. Since the time around 2020-2025 will be crucial depending on government rulings and decision making, we can expect the market to be volatile.
In the worst-case scenario, the chances of Bitcoin reaching the lower levels of $15,000 and below is also a possibility as the past trends have been the same. A piece of bad news about Bitcoin leads to a dip in the prices.
Note: Over the years, many people have come forward claiming to be the ‘real Satoshi Nakamoto,’ but the identity behind this name is still unknown.
Bitcoin Price Prediction 2030
If the governments accept the Bitcoin culture and other cryptocurrencies, by 2030, there will be no fiat currencies, and even the governments will move over to digital currencies, whether centralized or not. But if things go the other way, then Bitcoin and other cryptocurrencies will turn into tales for our grandkids.
However, if the acceptance continues, we can expect the price to fluctuate a little and decline before it again heads upwards towards the levels of $50,000 and $60,000 for single BTC. This can even go above $70,000 for 1 BTC. The prices may change depending on the level of acceptance and how the world economy is performing in 2030.
With the global acceptance by the year 2030, some developers might take the initiative to bring necessary changes in the original Bitcoin source code and make it even better for usage.
Note: In 2018, Bitcoin was facing a hard time as the market was crashing, and the U.S. Justice Department investigated traders for the charges of possible manipulation of the market.
Bitcoin Price Prediction 2050
Predicting the price for 2050 is a long term vision as by that time, who knows what the monetary structure is like and which currency will be the exchange factor for the digital currencies. Amid the global warming warnings and the ‘world is ending in a few years’ news, we would like to be positive about Bitcoin.
Many crypto enthusiasts and traders have predicted that the price of Bitcoin will reach $500,000 and $1 million by the year 2050 and if the working remains the same, then it would be fair to say that the price will be close to half a million or more by the year 2050.
Predicting the price for 2050 is guesswork due to the emerging natural crisis, and the damage taken by the earth has left us wondering whether we’ll have
Note: Winklevoss twins have been optimistic about the future and predicted that the market cap of Bitcoin would reach an estimated value of $5 trillion by the year 2038-2040.
Bitcoin Price Prediction 2019
This sudden downfall in the price left many investors damaged because of the losses, but it also opened ways for new investors as the price per Bitcoin was $3672.71. The price was slowly gaining its position back in the market as the trade volume kept increasing with the price rise. Traders predicted that the market would rise after the fall, and the price will reach $14,000-$15,000.
With over 18 million coins in circulation and a little over 3 million coins left to mine, Bitcoin witnessed price change in the first half of the year, and the price also reached an all-time high of $10,967.44 for this year 2019. The predictions were close enough, and they were bullish.
With the last two months left, we think the price for Bitcoin will move from the current stability and head towards the $10,500-$11,000 marks for the year 2019.
Note: The famous Winklevoss twins became billionaires as they purchased Bitcoins in the early stage. In 2013, the twins claimed that they had over 1% of the total Bitcoins that were available.
Bitcoin Price Prediction 2018
The price surge in the previous year was seen in 2018 as well as the price continued to stay above $12,000 in January 2018, but soon, it started declining. The decline was slow, and people confused it with the general market trend. But they failed to see the bear attack that was hiding behind this decline. People predicted Bitcoin to reach $20,000 in 2018.
However, things were going downhill as the price was touching the lower levels of $3000 by the end of 2018. The last trade for the year was made at $3618.81, and all the predictions failed. This price decline in 2018 made the crypto market unsure about the value of Bitcoin.
This drop was a significant shock for the crypto market as trading from trading at almost $20,000 per Bitcoin to dropping down to $3,500 is a huge dip to take and hard to recover from.
Note: Bitcoin has been one of the most stolen cryptocurrencies using various hacks, thefts, and scams. The Mt. Gox hack is the biggest crypto hack in the history of Bitcoin heists.
Bitcoin Price Prediction 2017
2017 was the year when Bitcoin was starting to gain some popularity in the market as more and more people were coming across this platform through various methods. The coin entered the year at $970 per Bitcoin, and it was increasing every month. This increase in user base raised questions, and the regulators and governments questioned the working of Bitcoins. India even banned the usage of cryptocurrencies.
However, things changed when the price continued the upward correction, and the trading volume increased in the charts. The Bitcoin market was growing at a much faster rate. People predicted the Bitcoin price would reach $6000, but as the year ended, Bitcoin was trading at $14,101.14 for 1 BTC. This surge made several people millionaires and billionaires.
Note: Bitcoin became so popular that many organizations and funding programs have started accepting Bitcoins as a form of donation.
Frequently Asked Questions (FAQ)
New Bitcoins are formed when a miner or a group of miners work together to solve a complex computational math problem, and whoever gets the answer, new bitcoins are produced on the network.
The miner or miners with the correct answer are rewarded with Bitcoins. The current reward is 12.5 BTC for every block mined, and in May 2020, Bitcoin halving will reduce the reward to 6.25 BTC per block.
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Conclusion
Bitcoin has been around for almost ten years now, and a project that was launched ahead of its time has formed such a massive community of various people from all over the world. Traders have high hopes from Bitcoin for the future, and they firmly believe that Bitcoin is here to stay and change the future of making payments.
