Marius Landman, a reputed Bitcoin, and crypto analyst as well as a contributor of CNBC, has a few claims to be made in the matters of Bitcoin inflation. Marius has forecasted massive inflation in the price of Bitcoin before it hits the value of $1 million apiece. He terms this as Super Hyper Inflation.
Landman has said that, for Bitcoin to reach $1 million in value, it must go through a Super Hyper Inflation, otherwise, it’s just not happening. This is a surprising claim, for Bitcoin as a currency is protected from inflation. One of the methods of protection is that Bitcoin miners get their rewards cut in half every four years, and the next halving is set to occur in May of 2020.
Marius stated that when Bitcoin reaches that value, value fluctuations that seem massive today will be insignificant, giving the example of a future decrease in $20k and saying that it would be like a drop in the price of $100, completely insignificant.
Yet another prediction the analyst made was about two future movements by cryptocurrencies Bitcoin and Litecoin that would leave the crypto community “scratching their heads”.
Among other crypto analysts, there are a few, for example, John McAfee, who believe that the price of Bitcoin has the potential to reach a million, stating this event to occur by the end of 2020. Bitcoin veteran Bobby Lee, the founder of China’s first crypto exchange (BTCC), has also expressed the belief that Bitcoin, the top dog of crypto, has the potential to hit a value of 7 digits. He also predicts this to occur by 2020.
Lee states Bitcoin to be super valuable. He compares it to gold and states the fact that Bitcoin’s yearly inflation is set to decrease to a measly 0.5%, making Bitcoin more scarce than gold.
Other analysts are much more modest in their future predictions about the value of Bitcoin, despite the major developments made by the coin.
At the end of the day though, only time can truly tell if Bitcoin can reach the million mark. In my opinion, it is no longer a matter of ‘if it will happen’, and more of ‘when it will happen’. Bitcoin, judging by the rate of its growth, certainly seems to be a huge player in the future of the internet as well as real-world transactions.