Chainalysis – a commonly used blockchain data company – recently invested in an unspecified amount of Bitcoin. The investment comes as Bitcoin's price creeps ever closer to all-time highs and surpasses its market cap record from May. Chainalysis Plans to HODL The data provider announced its latest investment in a blog post today and simultaneously confirmed a new partnership with NYDIG. NYDIG is a Fintech service provider for banks, corporations, and institutions. The financial company has allowed Chainalysis to add…
Bitcoin has for over a decade now been an investor’s favorite asset, with over 20 million addresses holding some amount of BTC. It was introduced as a peer-to-peer medium of exchange, used as a payment asset. The idea was to create a network that is entirely free from governmental regulations.
Generally, Bitcoin has been successful as an investment asset but has garnered value because of its use as a medium of exchange. However, some investors would want to invest in bitcoin today, but they are unsure what the future holds.
What price will Bitcoin have in 10 years? This guide will look at the past decade in bitcoin and make a possible investment value prediction.
The Past decade
In the past decade, bitcoin has surpassed many expectations when it comes to price increases. In January 2011, the coin was merely priced at 30 US cents. At this point, the knowledge about bitcoin was very little, but bitcoin was considered a scam by many investors.
Ten years later, in 2020 December, Bitcoin was priced at about $20k. Now, it’s clear that this is one of the most significant price changes in the history of any investment asset. So how did that happen, or when do the prices change?
- Increasing and Expanding crypto world- The speed of the expansion of the crypto world was epic in the past decade. New cryptocurrencies, exchange platforms, wallets, trading bots, and many applications have been continually developed, expanding the crypto world.
- This institutional adoption of crypto has been immense; it has driven the bitcoin price to excellence.
- The regular bitcoin halvings have also been an excellent time for bitcoin prices to surge. Generally, reducing the number of coins released has led to buying pressure, translating into more demand and price.
Bitcoin and The Future
Different experts have shown their various analyses of Bitcoin’s future prices using different approaches. However, not always have all their predictions been accurate.
This decade in the bitcoin price looks promising, according to expert analysts. This coin started the decade with top success hitting over $64k just at the start of 2021. Before the recent bitcoin market bull run, some expert investors had predicted that the price of bitcoin would hit $100k by 2020.
However, after the long bull run, Bitcoin dropped vastly in price. The recent bull run and drop are a clear show that Bitcoin is highly volatile. Even with the recent drop, expert investors still feel like this currency has a huge prospect and will continue to be lucrative in the long run. What is in store for the Bitcoin future?
Different Analyses and Predictions
Tesla Investor’s Prediction
A Tesla analyst predicted that Bitcoin’s network could be worth between $1 trillion and $5 trillion in the next ten years when talking about Bitcoin. The analyst’s prediction came true early this year when Bitcoin surpassed the $1 trillion mark and even surpassed the $1.5 trillion mark. Therefore, the forecast by the Tesla investor came earlier than expected.
Others have used other systems like the Stock to flow models and have made other possible predictions about the price of Bitcoin. For instance, using Stock to flow, BEX500 predicted that by the year 2026, Bitcoin could be priced somewhere above $1 million.
Matt Frankel and Jason Moser Prediction
In a forum held on youtube by Matt Frankel and Jason Moser, the two predicted that if bitcoin gains use cases and mass adoption, it could hit the price of $1 million. This interview aimed to discuss the possible future of the crypto world, which was the do’s assertion.
Frankel said that the price could be as high as $500k or as low as $1k. However, he asserted that for the coin’s price to hit the value, there must be a consistent rise like what was seen in BTC. If not, the price will tank.
Prime XBT Prediction
Prime XBT platform and its analysts have also predicted where the price of Bitcoin will be in the next ten years. Their analysis put the price of Bitcoin at around 500k in 2025. The same study predicts that past 2025, the price of Bitcoin will remain at $500k or increase even further. This could mean that the price could go even further to 1 million.
Libertex Trading Platform Prediction
Libertex also has its predictions of the prices of bitcoin in the next 5 to 10 years. Like those mentioned above, this analysis states that in 2025, the price of Bitcoin could range between $100k and 400k in value. The price, according to Libertex, however, could reach up to $1 million by 2030.
All of the analyses discussed above have put bitcoin’s price at about $500k to $1 million by 2030. However, there is one common thing that all analysts and investors agree on. For the price of bitcoin to reach 500k, the coin must gain fast mainstream adoption and handle the problems currently surrounding it.
Furthermore, for Bitcoin’s price to hit $500k, more institutions must start supporting the currency to boost investor confidence. Governments are also a big part of this coming decade. The more governments accept Bitcoin, the better the success of the currency in the next few years.