2018 has not been crypto’s year. Many would say that the hype is dying down and soon it might come to a halt… *gasp*
If we have already reached peak crypto, then where does it all go from here? Does that mean we didn’t make the most of it then and now it’s too late? The years when we should have been appreciating this innovation have been left behind us and now we won’t be able to make the most of it?
It seems like this debate has been going around in the crypto circle for a while, people have been debating the fate of crypto for a while now and both sides make some strong arguments.
All against this debate, please raise your hand.
The likes of Nouriel Roubini, who strongly contend that the crypto bubble has burst, forget that the technology only came out of its beta in 2017. Moreover, according to some experts, the slow and steady rise is actually a healthy sign. Some believe that this pace is perfect to see where the world takes crypto on from here unlike what happened in 2017 and everybody jumped the gun.
And apart from the bitcoin, the crypto world has opened us up to so many options. Could they be the rising star now? Will some other cryptocurrency light the ignition this time?
For now, Ethereum looks like the strongest competitor. It can be a likely candidate as “Ethereum-based networks are done waiting and they’re paving their own bull run.”
Let’s look at some of the famous people and see what they have to say about Bitcoin.
The first forecast comes from John McAfee, the creator of the popular anti-virus software McAfee. McAfee is quite known in the crypto industry because of his bold statements. You can say he’s a huge optimist.
Back in 2017, McAfee said that Bitcoin would reach $500,00 in 2020, and f he didn’t, he would eat his private parts.
Wait there’s more, if you didn’t think what you read was crazy enough, he even went on to say that he would do it on TV live.
This man knows no limit because later he bumped up the price to $1 million. He claims the prediction is his own price prediction model. If this all comes true two good things will come out of this; first, the Bitcoin future price of $1 million would give a total market capitalization of $15 million, and second, we wouldn’t have to witness the horrendous act of John McAfee devouring his own d*ck!
The next in line is an analyst that works for the cryptocurrency research organization Fundstart and is well-known for discussing the price performance of Bitcoin live on TV.
Thankfully, this one hasn’t got his head in the clouds. He predicts that the price of Bitcoin will be valued at $91,000 in 2020. He is highly experienced in chart analysis because quite frankly, bitcoin is the only cryptocurrency that you can conduct chart analysis for. You use historical data and price movements and bitcoin has the track record of nine years at its hand.
This is quite interesting than the formers one. This analysts from the Bitcoinist believes that in 2020 the Bitcoin mining reward will be halved from 12.5 BTC to 6.25 BTC.
You ask why?
Well, previously the bitcoin mining reward was halved twice in history. In 2012 it went from 50 BTC to 25 BTC and then again in 2016 it went from 325 BTC to 12.5 BTC. And both times, Bitcoin hit its record high.
The final one that we have on the table is by the CEO of Brave New Coin, a cryptocurrency research organization. According to him, the bitcoin will reach a new high of $200,000 by the year 2020.
He argues that there has been a wide adoption and the industry has seen significant growth in the number of users, wallets, and apps. In fact, Japan has more than 200,000 stores that you can spend your bitcoin in the real world.
So what do you think about these bitcoin predictions? Are you convinced of did we have you laughing at these ridiculously unrealistic statements? Let us know in the comment section below.