Tom Lee of Fundstart previously predicted that BTC could get to $25,000 by 2022. He continued to be a bull amid the downturn that followed China’s ban on bitcoin exchanges.
He uses Mecalfe's Law of network effect and value to get to his conclusion.
He believes that younger investors who have never been without the internet will use bitcoin as a store of value. BTC will be the "digital gold" for millenials, whose parents and grand-parents bought the real thing.
The world gold market is worth $9 trillion total. If BTC is "digital gold" and just captures five percent of this $9 trillion value, it will be at $25,000 by 2022. Others on Wall Street use similar approaches to get to a $500,000 per BTC price in the next 10 years.
But you might want to take everything that Lee predicts with a huge grain of salt.
He also predicted in early 2017 that BTC would get to $6,000 by mid-2018.
Look how wildly wrong he was on that previous prediction of $6,000 per BTC !!!
STEEM On !!
DaveB
https://www.cryptocoinsnews.com/25000-bitcoin-price-prediction-conservative-wall-street-strategist/
There is a good argument to be made in favor of investing in cryptos, especially bitcoin, because of the millennials' aversion to anything related to the legacy banking system.
The millennials have not forgotten the crimes of the bankers during the last financial crisis!
You give those young self absorbed narcissists too much credit.
Most of them have never even seen Groundhog Day, and they certainly have no idea who Gordon Gekko is.
Or Ivan Boesky. Or Chris Dodd or Barney Frank.
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At this rate , I have no doubt that it will reach that much even sooner , this coin is very unpredictable and when it climbs it's like climbing Mount Everest
Sooner is possible. We got to $6K before mid-2018
BTC will hit $10,000 in the next 3 months
I can't prove you are wrong. You can't prove you are right.
So are we any further ahead?
Not science if we don't have a provable hypothesis.
So we are dealing in the black arts.
I sure hope the analyst is right! Having a big vendor like Amazon accept bitcoin could be an amazing catalyst. Although, I personally wouldn't plan to use bitcoin for a consumer transactions, I treasure it as an asset class to accumulate/hold .
Amazon accepting BTC would not be helpful. BTC is not ready for that. GOLD does OK and Amazon doesn't accept GOLD.
I think the price of Bitcoin really depends on the adoption of new users new businesses and new regulations
Disagree. BTC will never be useful for day to day transactions. Other coins and blockchains are going to innovate around BTC and be used for that purpose.
BTC niche is "digital gold". But don't take niche as a bad word. If total value of BTC gets to 25% of current physical gold market, or around $2Trillion, that is a huge price per BTC.
BTC will need new users - they are coming. And new regulations. Although not a lot of regulation is needed or required for the "digital gold" niche.
great information and talking in crypto-news.
informative post thank you for sharing
informative post thank you for sharing
it would be epic if it reach there :D
There are more chances of increase the price of bitcoin in next few months
current pace will lead it to there no doubt and wonder why :)
bitcoin is the next digital gold :)
bitcoin will rule everywhere
$25,000 wow i mean that would be a dream come true :)