8 experts on Bitcoin: these are the latest price predictions and opinions

31 Mar, 2019
by Jelmer van der Dussen
8 experts on Bitcoin: these are the latest price predictions and opinions

Every week, analysts, experts and investors have their say on what's next for the price of Bitcoin. Chepicap takes a look the most interesting price predictions and opinions on the future of BTC, with this week comments from Tim Draper, John McAfee, Arthur Hayes and 5 others. 

Bitcoin... won't survive?
We're kicking this Bitcoin overview off with a little bit of a bummer... because Bitcoin won't survive in the long-term. That is what the CEO of Dash believes anyway. In an interview with Breaker, Ryan Taylor argued that Bitcoin is like Betamex, suggesting that an altcoin may be the VHS that kills Bitcoin. "Lightning Network isn’t a solution. There isn’t an easy solution. Because they lack governance, they have an inability to change and adapt to the marketplace. People always overvalue network effects...The superior product always wins."

Read more: Dash CEO claims "Bitcoin (BTC) won't survive long-term"

Never mind... $4 million in sight
Then on to the good news, because venture capitalist Tim Draper believes that Bitcoin can hit $4 million one day. According to Draper, cryptocurrencies can eclipse fiat currencies. "So we’re looking at about a thousand times on what we’ve got now." For Bitcoin that means 4000 times 1000 = $4 million. We'll take that, Tim!

Read more: One Bitcoin will reach 4 million dollars, says Tim Draper

Central banks coming in?

A catalyst for the Bitcoin run from $4000 all the way to $4 million could be... central banks! Garrick Hileman, Blockchain head of research at the London School of Economics, believes that Bitcoin functions as digital gold. "The question is though, who will be buying digital gold? If central banks start to accumulate Bitcoin, that could be hugely impactful on Bitcoin's price." Imagine the US Federal Reserve and the European Central Bank moving into the cryptocurrency space, stacking Bitcoin... According to Hileman, this could trigger 'an unprecedented wave of demand'. Yummeh!

Read more: Will central banks accumulate Bitcoin? "Hugely impactful on the price"

But regulators still hate us...
Another catalyst for a Bitcoin bull run could be more regulations in the cryptocurrency space. But governments are not keen on implementing regulations that are also beneficial for the space. CEO of the CME Group Terry Duffy explains in an interview with Business Insider why regulators absolutely hate cryptocurrency at this point. "The governments can’t run unless they can run on a deficit,” Duffy said. "I am trying to figure out why they would say, 'Sounds good to me because I want to be responsible and run everything on [an] even-for-even basis. I can’t borrow against anything'."

Read more: CME Group's CEO on why regulators hate Bitcoin: It has finite supply

$10K in Q4!
Back to the Bitcoin price, because Draper's $4 million prediction wasn't the only price prediction we saw last week. Bitmex CEO Arthur Hayes gave his view on the price action for Bitcoin in 2019, stating that he believes BTC will hit $10K in Q4 in 2019. "That is a very significant psychological barrier. It’s a nice round sexy number", Hayes argues.

Read more: Bitmex CEO Arthur Hayes: Bitcoin to $10,000 in 2019

And $400K in 20 years!

Why hope for $10K when Bitcoin can easily hit $400,000? At least, that is what Galaxy Digital CEO Michael Novogratz believes. The Bitcoin bull thinks that Bitcoin can easily beat gold's $8 trillion market cap. "And so, we’re 100x off on that. We’re not going to get there in Bitcoin in the next year or two. But over a 20-year period, could that happen? Easily. Easily."

Read more: Can BTC beat gold's $8 trillion market cap? "Easily", says Mike Novogratz

Not a fool's paradise, no
$400,000 is also a number that chief market analyst at Think Markets, Naeem Alsam, has his eyes on. In a column at Forbes, the analyst argues that Bitcoin can eventually hit that price target. "This is because there is a high chance that the next bull run has a minimum potential of pushing the price 5 times higher. That is over $100K", Aslam said. "I personally believe that each Bitcoin can go up to as much as $400K and if history repeats itself, this number is not a fool’s paradise. This is a simple math calculation: approximate percentage projection of the price which we experienced during the last bull run."

Read more: Bitcoin can surge as high as $400,000

McAfee is NOT going to eat his...
Last but not least, we - of course - have to discuss the mother of all Bitcoin price predictions. Since Draper said $4 million John McAfee's $1 million isn't the highest Bitcoin price prediction anymore, but it is still the boldest (because of his private parts that are at stake). Despite Bitcoin trading for around $4000 right now, McAfee thinks 'it's impossible for him to lose his bet'. 'There's not enough power on Earth that can stop Bitcoin in the long run. Relax and be patient.' Not too much patience though John, the end of 2020 is nearing...

Read more: McAfee on $1 million Bitcoin prediction: 'Impossible for me to lose bet'

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Will Bitcoin ever reach $4 million?

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