The price of bitcoin in 10 years is nearly impossible to predict but the future will be subject to 2 main source of drivers as market experts see it :
The Fundamentals :
The Downside is that Quantum Computing will be rising in commercial usage, which means the BTC protocol will need to be strengthened. I chaired a recent blockchain conference here in Sydney, Australia and at a technical briefing it was postulated that there was a 1 in 14 chance bitcoin would be hacked with Quantum Computing.
With the SHA-256 cryptographic algorithm (at the very core of BTC’s design), the chances of anyone randomly guessing a correct private key combination is estimated to be one in 115 quattuorvigintillions – that's a 1 followed by 77 zeros! Now that sounds like a big number – and it is – there are more private key combinations than there are grains of sand on the planet.
Currently it would take around 0.65 billion, billion years to hack. With quantum computing this will dramatically change.
In the absence of a hack - I think we will see somewhere between $12,500 - $15,000 per bitcoin.
With a hack of the protocol - it will fall close to zero - until a massive patch is put in place, and gradually rise from a zero base.
I think the protocol will evolve over time to overcome this risk but it is an important one worthy of consideration.
(In my recently launched book, Down The Rabbit Hole Amazon.com: Blockchain: Down The Rabbit Hole: (Discover The Power Of The Blockchain) eBook: Tim Lea: Kindle Store we look at many future aspects of crytpocurrencies but be aware it is hard enough to predict 3–6 months ahead let alone 10 years.
Please Note - none of the enclosed represents investment advice - please do you own research and seek professional advice as needed.
