Bitcoin predictions are always hot topics, even more so when made by industry heavyweights and huge companies. There have been a few of them in the last week or so, and the numbers are not small.
$ 150,000 Bitcoin from Tom Lee
Tom Lee of Fundstrat Global Advisors LLC is still of the opinion that the crypto market is too small to support an exchange traded fund. The US Securities and Exchange Commission has prevented several attempts to get a crypto ETF launched, but that may not be a bad thing, according to the Bitcoin bull Lee.
He spoke to Bloomberg, adding that large fund launches could have around $ 13 billion in first-year demand. In order for Bitcoin to be able to meet this requirement, he suggested that it be priced around $ 1
At the Blockshow conference in Singapore on Friday, Lee said;
“The SEC needs to point the ETF until the crypto gets bigger, but the demand for an ETF is outrageous. "
He added that they do a good job of protecting individuals, and that's how mainstream will eventually get involved in crypto.
" Institutions will not touch crypto if they think the SEC is not doing a good job. "
The $ 150,000 dollar pricing is not too high, and others believe it can be even higher. Pantera Capital founder Dan Morehead also talked about price predictions for Bitcoin.
On & # 39; Unchained & # 39; podcast earlier this year, he said BTC could reach $ 42,000 by the end of 2019, but looked at today's performance that seems very unlikely.  A longer-term prediction could see BTC to $ 356,000 by 2022 according to Morehead.
"Mapping the price of Bitcoin logarithmically, the trend will grow by 235% compound annual growth rate … And if you just extrapolate that line for another year it's $ 122,000 per Bitcoin and then another year, $ 356,000."  He added that transaction rates will also be significantly improved as the network evolves. When asked about an ETF, he said it could take many years, reimagining Lee's feeling.
CEO of Bitcoin wallet provider Xapo, Wences Casares, made his own prediction earlier this year with the high $ 1 million conversation in 7 to 10 years. This would be on the basis that BTC succeeds as the economic experiment that started a decade ago.
He added that everyone should own some Bitcoin and that the premise could escalate prices to seven numbers. It was a reminder that BTC has a 20% chance of failure, but he also predicted a 50% chance of success as it has done so for the last ten years.
“But after 10 years of working well without interruption, with more than 60 million holders, and adding more than 1 million new holders per month and moving more than $ 1 billion a day worldwide, it has a good chance of success. "industry heavyweight is a bullish long-term future for BTC.Shutterstock image