We asked a panel of 50 industry experts in late September to early October for their thoughts on how Bitcoin will perform over the next decade. Find out why they think it will be worth US$71,415 by the end of 2021, before rising to US$249,578 by 2025 and why holding till 2030 will be the real payoff. All prices mentioned in this report are in US dollars.
This post by Lorimer Wilson, Managing Editor of munKNEE.com is an edited ([ ]) and abridged (…) version of an article by Tim Falk and Patricia Cruz for the sake of clarity and length to ensure a fast and easy read.
BTC price predictions for 2021, 2025 and 2030
Bitcoin is set to peak at US$80,021 in 2021 before ending the year at US$$71,415, according to Finder’s panel of 50 fintech specialists. This is roughly 8% higher than the panel’s prediction back in July, and 37% higher than the panel had predicted back in December 2020.
The longer-term predictions for BTC look even brighter: By the end of 2025 and 2030, panelists expect BTC prices to skyrocket to an average of US$249,578 and US$5,237,082, respectively. While a significant increase from BTC’s current price, the forecast for the end of 2025 is roughly 20% lower than the panel had predicted in July.
Some panelists – including CoinFlip founder and chief advisor Daniel Polotsky, who believes BTC will end the year at US$80,000, attribute their bullish predictions to BTC slowly dethroning gold as a store of value.
“As Bitcoin continues to mature and increase in value, usability, age and trust, it will behave less like a growth stock, and more like a gold-like store of value. Eventually Bitcoin will dethrone gold as the king of safe-haven assets, and hopefully this changing of the guard takes place by the end of the decade.”
Finder.com founder Fred Schebesta believes BTC will cap the year at US$87,000 due to the surrounding hype.
“Bitcoin is so hot right now. NFTs are pumping it, there is so much institutional demand, the U.S. government is not banning it and everyone’s getting in on it. I have strong conviction that it will continue to rise.”
First Digital Trust COO Gunnar Jaerv, who has an EOY prediction of US$70,000, agrees with Schebesta that BTC will continue to rise with support from the market.
“The bull run is different this year. More innovations, more regulatory involvement (despite FUD) and the ecosystem and infrastructure puzzles are falling into place quite nicely.”
Buy, sell, or hold?
Now is the time to buy BTC, according to 46% of panelists, while an additional 46% say it’s time to hold and just 8% say it’s time to sell.
Morpher CEO Martin Fröhler says now is the time to buy BTC because
“a macro environment of central banks printing money at will, strong on-chain fundamentals, institutional adoption and a futures-based Bitcoin ETF in the US will propel BTC to new highs in 2021”.
BuyUcoin marketing manager Dhananjay Lochave is part of the hold camp, but adds that in the future, some altcoins may provide greater returns than BTC.
“The current circulation is enough for the market to hold and even trade on a daily basis. But with the upcoming shortage, altcoins have a better future than bitcoin. Buying bitcoin right now will give you a return of 100% max than other altcoins that are rising above 200%.”
Meanwhile, University of Canberra senior lecturer John Hawkins is part of the minority who believe it’s time to sell BTC. According to Hawkins, BTC is merely a speculative bubble and says prices will eventually collapse.
“A Bitcoin price collapse could be the result of disillusionment with all private crypto (with the possible exception of stablecoins with genuine backing) as central bank digital currencies demonstrate they are the future of e-currency, or it might just be because Ethereum (or if it ever launches, Diem) is seen as the better crypto.”…
The cryptocurrency sphere is crowded and becoming increasingly competitive all the time and Bitcoin is sure to face plenty of threats to its title as the world’s number-one cryptocurrency from a host of well-organized and professionally backed competitors so if you’re thinking of buying Bitcoin, it’s important to be aware of the influences (both positive and negative) that the actions of competitors could have on the price of Bitcoin. Some of the main competitors to consider include:
- Ethereum (ETH). Launched in 2014, Ethereum is a blockchain where developers can build and deploy applications, designed to be a decentralized financial layer of the internet. Ether (ETH) is used to pay transaction fees and services, and has long been the second largest cryptocurrency by market capitalization.
- Ripple (XRP). Ripple offers both a payment network (RippleNet) and a cryptocurrency (XRP), and it aims to allow banks and payment providers to send fast and secure transactions around the world. It’s has a history as one of the top five cryptocurrencies in terms of market capitalization, and you can find out more about how it stacks up in our Bitcoin vs Ripple comparison.
- Bitcoin Cash (BCH). Created in August 2017 following a hard fork of Bitcoin, BCH is designed to offer faster and cheaper transactions than BTC.
- Litecoin (LTC). Commonly referred to as “the silver to Bitcoin’s gold”, Litecoin was founded in 2011 and designed to provide faster transactions than Bitcoin. It’s has a history as one of the top 20 cryptocurrencies by market capitalization.
- Dogecoin (DOGE). Dogecoin started as a joke, introducing the term “memecoin” to the world. Despite being launched as a protest to highlight that anyone can create a cryptocurrency, it has developed a loyal, cult-like following which has propelled it to become one of the top cryptocurrencies by market capitalization.
If you’re considering buying Bitcoin (BTC), the most important points to remember are to do your research and to familiarize yourself with all the risks involved. Though this digital currency has delivered substantial returns to its early adopters, that’s no guarantee of future growth…Watch this space to see how it all unfolds.
Editor’s Note: The author’s views and conclusions are unaltered and no personal comments have been included to maintain the integrity of the original article. Furthermore, the views, conclusions and any recommendations offered in this article are not to be construed as an endorsement of such by the editor.
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