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Bitcoin does not even need an introduction, almost everyone knows Bitcoin. Hundreds of people have earned thousands if not millions of dollars by engaging in Bitcoin. Those who entered the world of cryptocurrency very early indeed made a fortune thanks to a very small investment.
However, the huge amounts invested by investors in investing in Bitcoin gave birth to this illusion that by investing in Bitcoin, one can become a millionaire overnight. It's essential to keep in mind that Bitcoin is not what can make you rich overnight. People who invested earlier also waited for years before making huge profits.
When the price of bitcoin began to rise in 2017, the majority of investors sold their bitcoin for profit. However, a valuable lesson we have learned is that the holding of power is crucial. Those who kept it for a few more months and sold it at the beginning of 2018 realized three times more profits than those who sold it in 2017.
Price For Bitcoin
As reported by Theoofy, Bitcoin could return to $ 6,800 after the $ 25 billion rise. The year 2018 was very hard for Bitcoin and the trend was mainly downward. Although there is much speculation about Bitcoin, John Pfeffer, partner of the capital Pfeffer, predicts that Bitcoin will be multiplied by 75. He thinks that a Bitcoin will be valued at around $ 700,000 at the same time. to come up.
Bitcoin (BTC) Price Today – BTC / USD
This is a very long-term forecast, and John has not specified the time frame in which he expects this increase. Time Draper, a venture capitalist, predicts that a bitcoin will be worth more than $ 250,000 in three to four years. Clearly, John's prediction is a bit far-fetched or a bit too optimistic, but Draper's seems quite possible.
Pfeffer supports his prediction by saying that he thinks Bitcoin is like gold and is the first thing that can actually replace gold. It assumes that a majority of people will replace gold with Bitcoin because it is easier to store and the chances of stealing it are less great. After complex calculations, the price rises to about $ 90,000 per piece.
The second factor he uses to support his forecasts is that a quarter of the world's traditional currencies will be replaced by Bitcoin. World currencies are worth more than $ 12 trillion. He is optimistic about replacing a quarter of the foreign currency with Bitcoin. And although, when you think of the price of $ 700,000, it seems a little exaggerated, however, technically it is possible.
The price of Bitcoin, if it is multiplied by twenty as a result of the aforementioned situation, passes the 700,000 USD mark. All these forecasts being long term, the forecasts for the end of the year and the beginning of 2019 also seem positive. John McAfee expects Bitcoin to reach just over $ 7,000 by the end of the year. It also predicts a value of over one million dollars by 2020.
John McAfee is the same person who, last year, predicted that Bitcoin would exceed $ 7,000 and his predictions were quite true. In one of his tweets, McAfee said that he had used the same model to predict the value of a million dollars by 2020. Kenneth Rogoff, a former IMF chief , predicts that the bitcoin will drop to $ 100 or less since it is a bubble that has not yet burst.
Tom Lee, who is chief at JP Morgan, predicts that Bitcoin will surpass the $ 25,000 mark as it sees a lot of growth in the world of cryptocurrency. Llew Claasen predicts that Bitcoin will be valued at more than $ 40,000 per bitcoin. He says that there will be ups and downs and that despite this, Bitcoin will go back up and, hopefully, meet his expectations.
It's important to keep in mind that Bitcoin has always surprised us, so you only need to invest the amount you can afford to lose. Being optimistic is a good thing, but a cryptocurrency investor should always be prepared for a fall.
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