Since it’s inception Bitcoin has been at the heart of a controversial revolution and speculative rollercoaster while predictions on the price of Bitcoin have run rampant. While Bitcoin price predictions aren’t the only source of information traders and investors should listen to, they do give us insight into the minds and ideas of industry leaders.

These Bitcoin price predictions are made to try and answer the following questions. What is the future of Bitcoin? Where is the price heading to?

We have put together a combination of positive and negative price predictions by a number of experts all around the world in their respective industry to answer these questions for you.

JOHN MCAFEE

Bitcoin Price Prediction

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John McAfee, founder of the world-renowned antivirus software McAfee antivirus predicts that Bitcoin has a huge potential. He predicted Bitcoin would reach $7000 by the beginning of 2018. This was a below par prediction as Bitcoin reached way beyond his predictions. Following that, John stated that there are very high chances of Bitcoin reaching one million bucks by the end of 2020. He said, his predictions would go right for sure considering the increased adoption of Bitcoins and Blockchain. He also said that his predictions are based on the total market capitalization of Crypto market which is a whopping amount of $162 billion.

LLEW CLAASEN

Bitcoin Price Prediction

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At the beginning of this year, Llew Classen the current executive director of Bitcoin Foundation made a very positive price prediction for Bitcoin. He said that Bitcoin is right on track to reach $40,000 mark. He gave comparatively week predictions for some altcoins. However, he said the cryptocurrency will be as risky as it is exciting. There is also a lot of talk in the Bitcoin community that Claasen’s prediction is to just blindly encourage Bitcoin believers that the cryptocurrency is on the right path.

TIM DRAPER

Bitcoin Price Prediction

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Tim Draper earned a lot of reputation among the Crypto fans when his prediction on the 2018 Bitcoin boom came true. He predicted this boom three years ago when there was not much talk about Bitcoins. He is also known for his successful predictions with Skype, Tesla and Twitter in the past. Now he has a positive prediction for Bitcoin and he believes it can reach $25k by 2022 assuming the growth of Bitcoins happens at the same pace.

BOBBY LEE

Bitcoin Price Prediction

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Bobby lee, CEO of China’s first Bitcoin exchange BTCC, predicted that Bitcoin has the potential to reach one million dollars per Bitcoin. He said it might take 20 years’ time but it will reach that point for sure.

CAMERON WINKLEVOSS & TYLER WINKLEVOSS

Bitcoin PricePrediction

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The Winklevoss brothers are one of the first Bitcoin billionaires. Cameron Winklevoss have a strong prediction for Bitcoin as he said it will reach $320,000 per Bitcoin within 10 to 20 years’ time. He stated that Bitcoin is still an underappreciated asset and it has the potential to grow 40 times more than what the price is at present.

KEVIN O’LEARY

Bitcoin Price Prediction

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Kevin O’Leary is well known as a Shark Tank investor and the owner of O’Leary wines. He says Bitcoin phenomenon has always been a cocktail of disasters. One of the major problems Kevin has with Bitcoin is that he considers it as an asset and not a currency. An asset with such huge fluctuations in its value can never replace fiat currencies due to the price volatility.

MARK CUBAN

Bitcoin Price Prediction

Mark Cuban is a tech mogul and the proud owner of Dallas Mavericks an NBA Basket Ball team. This billionaire in a recent interview said that he hates both gold and Bitcoin. He terms both of them as non-viable currency alternatives. He said he compared them both in the terms of supply & demand. He said, “I think all of this Bitcoin hype is one huge bubble and any asset which changes it value based on one strong tweet can never be considered as a stable currency alternative”.

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However, he is one of the major investors in Bitcoin and his NBA basketball team Dallas Mavericks is one of the first teams to accept Bitcoins for their ticket sales. Asking about this, Mark said that he is a huge fan of Blockchain and took this step to find out if there was a market of crypto owners that wanted to use them as currency. One strong advice he gave to the people who are willing to invest in Bitcoin is that they should invest in it only if they can handle losing all the money.

ROBERT SLUYMER

Bitcoin Price Prediction

Sluymer in CNBC’s broadcasting room believes that the Bitcoin is Bottoming. He said, Bitcoin is about to challenge its downtrend. He pointed out that the Bitcoin’s RSI was sitting at quite a low level, similar to the levels seen before to the upside seen in the early 2019. Sluymer recently said, “The setup is there, but what we need to see is the token actually breakout and move through some very key levels.”

Image Source: Google Images

However, like most of the Bitcoin Price Predictors Sluymer also forecasts about the worst-case scenario of the Bitcoin and predicts the same.

To Conclude

Bitcoin will be the standard for virtual currencies. It is the most accepted and most stable Cryptocurrency in the market. Having said that, Bitcoin is still in a stage where its price is greatly affected by the smallest of the speculations in the market. Even minor developments in the government can change the value of the coin. So predictions should always be considered only for directional purposes as you saw above where the industrial giants themselves are contradicting with each other when it comes to predicting the future of Bitcoin.

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Evaluating Bitcoin Price Predictions

Fundamental analysis is the process of evaluating a security’s actual value by examining a lot of financial, economic and other qualitative & quantitative factors. Fundamental analysts comprise a study of anything that can affect the value of the security, including macro and microeconomic factors like the economy or industry conditions and financial conditions and company management respectively. We do Fundamental analysis to any asset to figure out the actual quantitative value so that any investor can compare the actual value of the asset with its current price. The main advantage of Fundamental Analysis is to come to a conclusion if the security is undervalued or overvalued.

Does Fundamental Analysis work for Bitcoin?

Traditional markets have a huge chunk of data to base trades upon. For instance, the price action of a particular stock will be affected on when the earnings for that company are released. There are a lot of other factors that correlate to a stock’s price based on the decisions taken by that company. But there are a lot of reasons on why Fundamental Analysis is difficult in Cryptos. The most difficult part of applying Fundamental Analysis to Bitcoin is that its market is entirely speculative. It is also impossible to give crypto companies like Bitcoin any type of valuation as the market is entirely new. Nobody can exactly predict the value of any of these Crypto companies in future as there is no historical evidence for the same.

Bitcoin Fundamental Analysis

Bitcoin is an intangible asset and intangible assets are always difficult to quantify. The system of Bitcoin depends on a lot of complex concepts like advanced mathematics, economics, Cryptography and computer science. Bitcoin is undergoing a rapid evolutionary process. There are thousands of engineers writing code for Bitcoin. There are massive improvements that are happening in the Cryptography space where a lot of Research and Development is involved. To do a Fundamental Analysis on Bitcoin, we should consider R&D as an important factor. The number of articles that are revolving around the concept of Bitcoin only went up from the time of its inception. This means there is a lot of expert thesis that is being written on this topic which increases the value of this asset automatically.

Image Source: Data from Blockchain.com

Transaction Volume is also one of the major important components to consider while trying to figure out value of a virtual asset like Bitcoin. According to Coinmarketcap, Bitcoin’s transaction volume for one day reached almost $6 billion with more than 400,000 transactions being done on a $66 billion market capitalization. Considering this staggering amount of transaction volume, experts predict that Bitcoin has the right fundamental outlook and all the possibilities for another massive positive price breakout.

Bitcoin’s Transaction Volume

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The supply of an asset should able be considered as an important factor while performing fundamental analysis. Determining the demand of Bitcoin might be a complex study by supply of Bitcoins isn’t. We all know that in total there can only be 21 Million Bitcoins out of which 17.6 Million are already in circulation. The rate of the remaining Bitcoin circulation is controlled by the Bitcoin Protocol. But there are a lot of speculations regarding the same. Some part of the Bitcoin community believes that the co called creator of the Bitcoin, Satoshi Nakamoto holds almost 1.1 million Bitcoins. They also believe that these Bitcoins will never be seen and consider them as dead Bitcoins.

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When framing the Fundamental Analysis of the Cryptos like Bitcoin, the network of the particular system plays an important role. The larger and stronger the network, the stable the price will be. Doesn’t mean the price would not fluctuate, it may oscillate up and down but in the long term it will possess a fair value. Bitcoin has one of the strongest networks. At one point it was one of the most powerful computing networks in the world. What this means is that there is no other computation power in the world which can hack the Bitcoin system. This is one strong factor which differentiates Bitcoin from other Cryptocurrencies.

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Fundamental analysis of a Crypto asset like bitcoin can help novice traders to understand the value of the asset to make better Bitcoin price predictions. Most importantly it will help the traders to make better decisions in their trading activities. Having said that, there is some criticism on fundamental analysis as it only states what the value of a particular asset should be than predicting the right price. That kind of makes sense.

Combining both Technical & Fundamental Analysis is the best way to get better trading results. For example, trader using technical analysis to determine the good selling time can leverage fundamental analysis to confirm his decision by looking at key demand drivers. Fundamental analysis for an intangible asset is still very new and we would recommend you to do your own research before investing in Bitcoin or any Cryptocurrency.