With the recent big price increases for bitcoin, ethereum, ripple and most crypto-currencies over the last 3-6 months. It has renewed the price predictions coming out for bitcoin and they are pretty crazy.
I want to start by telling everyone that big moves up in price can be easily followed by big moves down in prices as well. There is no such investment that allows you to profit in one direction for an extend period of time. With cryptocurrencies being very volatile investments you need to be aware that big moves down are coming and to be prepared.
That being said, here are some price prediction for bitcoin in the coming years.
Kay Van-Petersen – Saxo Bank
Who originally predicted success the $2,000 bitcoin price, which at the time was also seen as a crazy price prediction is now predicting a $100,000 bitcoin price within 10 years.
Next is Wences Casares, CEO of bitcoin wallet Xapo and a member of PayPal’s board of directors. He believes we will see a $1,000,000 bitcoin price within 5 to 10 years.
I thought some of his other quotes from the Consensus Conference in New York last month are also worth noting.
“The biggest mistake [would] be to buy more bitcoin than you can afford to lose. The biggest mistake is [also] not to own any bitcoin,” he told the gathered audience.
“Put 1% of your net worth in Bitcoin and forget about it for 10 years” Casares added, baiting new investors to adopt the cryptocurrency.
Early Snapchat investor Jeremy Liew and Blockchain CEO Peter Smith who predicted bitcoin prices to hit $500,000 by 2030.
What do you think the price of bitcoin will be in 5 years, 10 years and 20 years? Write your prediction in the comments below.