Bitcoin cryptocurrency exchange rate forecast. Bitcoin cryptocurrency rate forecast Negative forecasts for the Bitcoin rate for next year
The Bitcoin rate in 2017 broke all records and at the time of writing this article (August 2017) is about $4,300. Many Bitcoin holders and those thinking about buying it are wondering whether Bitcoin has reached its peak and what the future of this cryptocurrency is. In this article, we have collected 6 of the boldest analyst forecasts for the Bitcoin exchange rate for the coming years. The least optimistic of them indicates that the price of Bitcoin will increase by 11 times, and the most optimistic - that Bitcoin will increase in price by 116 times.
Daniel Harrison's forecast: Bitcoin price will reach $48,000 in 2021
Daniel Harrison in 2014, when Bitcoin was worth about $300, predicted, based on the cryptocurrency valuation system he created, that in 2017 the Bitcoin rate would reach $2,469.55. And he turned out to be right. In 2017, he presented a new forecast for the coming years, according to which the Bitcoin rate could reach $31,484 in 2020 and $48,406 in 2021.
Harrison estimates the future value of Bitcoin based on three factors: first, an assessment of consumer and purchasing power in the virtual arena; the second is the issue price (the cost of issuing Bitcoin in comparison with other digital currencies); and the last and probably most important factor is the value of Bitcoin after investment (i.e., the income of the Bitcoin holder in the form of additional profit in addition to fluctuations in its own value).
The first factor is more or less clear: its calculation involves searching for the current and possible percentage of an asset in the virtual space in terms of purchasing power. The more a currency is used, the higher its value.
The second factor is also somewhat clear: the cost of Bitcoin mining is constantly growing.
The third factor is the most interesting and is usually not taken into account by those who use Bitcoin only for buying and then selling, as well as by those who consider Bitcoin to be a pyramid scheme. At the same time, Bitcoin has become in the world of cryptocurrencies the same main currency for investment as the dollar in the real economy, displacing the dollar. There are cryptocurrency exchanges that do not accept dollars at all for replenishing funds and do not trade in dollars. At the same time, Bitcoin is accepted everywhere; you can use it to buy constantly emerging new cryptocurrencies, which grow in value often many times faster than Bitcoin. According to Harrison, investments of bitcoin and ether (the second most popular cryptocurrency, comparable in importance to the euro in the real economy) in initial coin offerings (ICO) brought investors $606 million over the past year and a half, compared with $153 million invested directly in Bitcoins and Ethereums.
Harrison says: "When I tried to convey this in 2014 - that digital currencies would develop as investment assets with their own return opportunities - it was not easy to understand because people then viewed these units only as speculative assets. No one understood that they can be used for investing. And even today, most investors do not think about purchasing bitcoins to invest in crowdfunding projects or ICOs (although more and more are doing this). Look how the scenario has changed in this regard between 2014 and 2017. with the constant issuance of new tokens and the abundance of other innovative digital assets, you will see how central this aspect of digital currency valuation will become in determining the intrinsic value of the underlying asset."
Ronnie Moas's forecast: Bitcoin price could reach $50 thousand in the next decade
Experienced stock evaluator Ronnie Moas has no doubt that Bitcoin will rise to $5,000 in 2018 and $50,000 within a decade. Moas associates a tenfold increase in the value of Bitcoin with the inevitable tenfold capitalization of the cryptocurrency market. Now all cryptocurrencies combined are worth about 0.1% of the value of securities and cash. In the next decade, the share of cryptocurrencies will reach at least 1%. In this case, investing in cryptocurrencies will now give a tenfold effect. It is possible that cryptocurrencies could capture 4% of the volume of securities and cash, in which case the increase in the rate of Bitcoin, which now accounts for half of the cryptocurrency market, could be even greater.
"Investors should support cryptocurrency, and if you lose a few bucks, at least you tried. It will be a shame when Bitcoin goes up another 1,000%," advises Moas. The analyst himself bought 10 out of 20 to diversify his investment portfolio.
Tom Lee's forecast: Bitcoin price could reach $55 thousand by 2022
Fundstrat's Tom Lee became the first major Wall Street strategist to analyze Bitcoin and give an optimistic forecast. In his report, he stated that Bitcoin could reach a price of $55,000 by 2022, saying that Bitcoin will replace gold: “We believe that Bitcoin is absorbing the demand for gold. This assumption is the basis for the valuation of Bitcoin, and according to this model "We believe that the value of Bitcoin could be between $20,000 and $55,000 by 2022."
The market value of gold is currently $7.5 trillion, and Bitcoin is around $70 billion. However, the supply of gold is gradually increasing due to intensive mining, while the supply of Bitcoin will remain stable due to the “ceiling”. » in the amount of 21 million btc. This appears to be putting a huge strain on Bitcoin, which can only lead to growth.
Dennis Porto Prediction: Bitcoin Price Could Reach $100,000 by 2021
Harvard academic Dennis Porto found that Moore's law (an empirical observation originally made by Gordon Moore, according to which the number of transistors placed on an integrated circuit chip doubles every 24 months) applies to the Bitcoin exchange rate; only in the case of Bitcoin, the doubling period (namely the exchange rate) cryptocurrency) is 8 months. If the current state of affairs continues, then by February 2021 the price of one bitcoin will exceed $100 thousand.
Chris Dixon, a well-known Silicon Valley venture capitalist and partner at Andreessen Horowitz, which invested $25 million in Bitcoin company Coinbase, also believes that Bitcoin will reach $100 thousand, but does not give a specific time frame for this. Dixon believes that Bitcoin will reach this point if it becomes the main system for online transactions. For this to work out successfully, Bitcoin must gain the popularity of corporate users, and governments must find a way to peacefully coexist with Bitcoin.
Forecast of an investor who earned $25 million on Bitcoin: the Bitcoin rate will reach $150 thousand
The man, who prefers to call himself Mr. Smith, invested $3,000 in bitcoins in 2010 and gradually sold them as the price rose. As a result, his net profit amounted to more than $25 million. Now he has a thousand bitcoins left in his account, but he plans to change them later, because... I am confident that the Bitcoin rate will continue to rise: “The price will rise to 150 thousand dollars per Bitcoin. I really believe that this is real. But this requires the participation of the governments of many countries and private companies. No amount of speculation can achieve such growth.”
Forecast by Jeremy Liu and Peter Smith: Bitcoin will reach $500 thousand by 2030
Snapchat's first investor Jeremy Liu and Blockchain CEO Peter Smith indicate that volume money transfers to other countries has doubled over the past 15 years to reach 0.76% of global gross product and it is believed that with increasing awareness of Bitcoin and taking into account its low cost of use, its role in international transfers will increase to at least 50%. This will be facilitated by the growing number of smartphone users, who will be able to make money transfers only using their phones.
The growth of Bitcoin's popularity will be facilitated by growing tensions in the US, UK and developing countries. Investors will invest a significant portion of their funds in Bitcoin, which beats traditional investment methods in terms of high liquidity, low costs and ease of transfer from one user to another.
But the main factor in the growth of Bitcoin will be the multiple increase in the number of its users. In 2013, 120 thousand people used Bitcoin, and in 2017 already 6.5 million. If this trend continues, then by 2030 the number of Bitcoin users will reach 400 million.
The dollar equivalent for bitcoins held by the average user will also increase. In 2017, this amount is 2.5 thousand dollars. In 2030, the average user will have 25 thousand worth of bitcoins.
With the number of Bitcoin users growing tens of times, the number of Bitcoins themselves will increase slightly: from the current 16.5 million to 20 million in 2030, that is, by only 20%. This is due to the growing difficulty of Bitcoin mining and its release limit: no more than 21 million Bitcoins can be issued.
Jeremy Liu and Peter Smith conclude that Bitcoin's capitalization will reach $10 trillion by 2030, meaning each Bitcoin will cost $500,000.
The famous American businessman and programmer John McAfee agrees with this figure, only he believes that Bitcoin will reach a rate of 500 thousand dollars by the summer of 2020 and even promised to eat his reproductive organ in live television if his forecast does not come true.
At the beginning of 2016, Bitcoin was at around $370-420 per piece and by the end of this year its price reached $750-780. That is, the cryptocurrency has doubled in price, which I predicted at the beginning of 2016 - .
But what should we expect in 2017? Let's try to figure it out and give the most accurate forecast for the Bitcoin price for 2017. First, look at the price chart.
Let's compare the price at the beginning of each year and the end:
- 2013 January/December - 13$/740$;
- 2014 January/December - $740/$317;
- 2015 January/December - 280$/430$;
- 2016 January/December - 400$/780$.
If we look at the graph more carefully, we can clearly see that from January to March the price of currency is lower than at the end of the year and this is due to the production and sale of currency.
For example, in 2015, thanks to some positive news in China, the price of Bitcoin began to rise rapidly, and other people caught the wave and believed in the development of BTC.
And already at the beginning of 2016, virtually no one doubted that Bitcoin could once again approach the $1,000 level.
Bitcoin is one of the most undervalued assets I have seen in the history of my career. (Reported by Matthew Rozaka, Founder of Tally Capital)
Thus, it became clear that the price of a currency is determined not only by miners, but also by stock brokers who know how to stir up interest in Bitcoin.
It is worth remembering that at the end of each year, major news appeared that affected the first few months of the BTC movement, until something new appeared.
Let's look at the biggest news that can in one way or another affect the movement of the currency.
News No. 1 - SegWit is launched for Bitcoin wallets
SegVit is a feature for Bitcoin wallets that will increase efficiency maximum size blocks up to 2 megabytes. This way you can carry out more significant transactions!
News No. 2 - Bitcoin will become the national currency in Zimbabwe
If Zimbabwe makes Bitcoin a national currency, it will be the first time in history that the government will purchase cryptocurrency in large quantities. And as many people know, the higher the demand, the higher the price!
News #3 - Banks around the world are stocking up on Bitcoins
Already in a number of countries, various banks have begun to purchase Bitcoins. Countries such as Germany, USA, England, Switzerland and China were highlighted. I think in 2017 there will be even more of these!
And of course, the price is influenced by stock brokers, the growth of the economies of leading countries, the complexity of bitcoin mining, and the very attitude towards the currency.
At the moment, the price of 1 btc = $778, according to the calculations of various world experts, towards the end of 2017, the price for 1 btc will be more than $1,200.
Hello, dear guests of the blog site, a fresh Bitcoin exchange rate forecast for the fall of 2017 has been compiled especially for you. Bitcoin is extremely popular among traders and investors. This is due to the fact that since the beginning of 2017, the quotes of this cryptocurrency have more than tripled. Thus, investors who purchased this cryptocurrency at the beginning of the year were able to significantly increase their initial capital. Thanks to the rapid rise in price observed in 2017, Bitcoin has become one of the most highly profitable investment instruments.
It should be remembered that due to the high level of volatility of this cryptocurrency, it is quite difficult to make an accurate forecast of the Bitcoin exchange rate for the fall of 2017.
What's happening to the value of Bitcoin?
Many professional analysts agree that a classic bubble has formed in the cryptocurrency market, which is likely to burst soon.
The famous trader D. Kemala claims that a serious collapse in the Bitcoin rate is expected in the near future. He came to this conclusion through the use of technical analysis techniques, which make it possible to predict changes in quotes for a selected instrument based on an assessment of past price movements.
This trader claims that the current charts showing the ratio of the value of Bitcoin to such currencies as the dollar (US), dollar (Australia), dollar (New Zealand) and the Swiss franc have formed an arcuate upward curve, which is one of the signs of a financial bubble.
Similar patterns appeared on the charts of the popular Shanghai Composite and Nasdaq indices in 2007 and 2000. After the formation of these figures on the charts of the above-mentioned indices, their quotes seriously collapsed.
In the first two months of 2000, the Nasdaq index increased by more than 30%. After this, the quotes of this index began to fall, and as a result, its value decreased by more than 34%. The fall in quotations continued until the fall of 2002. Due to the burst of the bubble, the initial value of the Nasdaq index fell by almost four times.
In the first nine months of 2007, the value of the Shanghai Composite Index increased by more than 113%. After which there was a sharp drop in the price of this index, which continued until the fall of 2008. Due to this decline, the value of the Shanghai Composite Index fell by more than 71%.
The above-mentioned situations with indices are considered to be a classic bubble. Currently, the Bitcoin market is experiencing a similar situation that preceded the fall in indices. This is what allows many experts to argue that in the fall of 2017 there will be a fall in the value of Bitcoin.
Opinion of analysts from Goldman Sachs
Employees of the well-known organization Goldman Sachs agree with the statement that the cost of Bitcoin will decrease significantly this fall. The Bitcoin exchange rate forecast for the fall of 2017, compiled by employees of this company, suggests that the cost of the cryptocurrency will reach $5,000, after which it will begin to fall rapidly and stop at $2,220.
In their forecast, Goldman Sachs employees do not consider the situation in the Bitcoin market to be a classic bubble. They consider the predicted decline in the price of this cryptocurrency to be a correction, after which a long-term growth will begin again.
Leading analyst of the Alpari broker R. Tkachuk made his own forecast for the Bitcoin exchange rate for September 2017. He claims that the Bitcoin/USD pair will again test the psychological mark of $5,000, after which a significant price correction will occur.
All the analysts mentioned in this article agree that Bitcoin quotes will not be able to overcome the psychological mark of $5,000 and continue to grow. For this reason, it is not recommended to purchase Bitcoin at a time when its quotes are very close to the psychological mark, as this may cause significant losses.
Most experts recommend that investors purchase Bitcoin at its current price with the goal of selling it when its price reaches $5,000. If a correction is observed on the Bitcoin chart, it is recommended to buy additional cryptocurrency.
It should be remembered that investments in Bitcoin, as well as in other cryptocurrencies, are very risky. For this reason, the share of cryptocurrencies in your investment portfolio should not exceed 10%. Only following this recommendation will make your investment portfolio balanced.
Cryptocurrency continues to be one of the most important topics of discussion in the financial sector. 2017-2019 were incredibly eventful years in the history of digital money, but so much more will happen this year.
Did the creators of Bitcoin achieve what they wanted to achieve? Will the BTC rate reach the same $100 K that some crypto enthusiasts are predicting? What factors will influence the value of a coin in 2020? What, according to experts, will the Bitcoin exchange rate be at the end of 2020, and with what results will the first cryptocurrency end this financial year?
Today we'll talk about Bitcoin forecasts for 2020, and we will share the opinions of authoritative personalities in the sphere about the future of the first cryptocurrency, after the launch of which the world will never be the same.
Price is the biggest determining factor that influences investment decisions. With a limited supply of coins and a rapid increase in demand, the price of the Bitcoin cryptocurrency has no maximum limit: no one knows how much the 21 millionth BTC coin will cost (that is how many tokens of this cryptocurrency will be issued). It's logical that with increasing demand, the price of bitcoins will steadily increase in the long term.
Over its almost 10-year history, the first cryptocurrency never fell significantly in price; on the contrary, it showed positive dynamics. But not everything is Maslenitsa for the cat.
After setting a price record of $20K per coin at the end of 2017, this digital currency began to lose steam and is now trading at less than $4K per coin. According to Dr. John Matthews, CFO of Bitnation, this volatility in Bitcoin's price is due to a combination of "growing interest and inadequate understanding" on the part of users.
“These qualities are observed in the general public, governments and business leaders. This creates an environment in which rumors and speculation are difficult to distinguish from facts and real value, creating uncertainty and doubt among market participants.”
It is precisely this unhealthy and unconscious interest in Bitcoin that skeptics operate on, who are still convinced that the cryptocurrency world is a bubble that is inflated by a very skillful master, but which will a priori burst at some point.
Bitcoin growth forecast for 2020: what analysts say
Bitcoin price fluctuations make it difficult for users to make investment decisions. It must be admitted that their fear of the unknown is well founded. But is it really worth investing in Bitcoin now?
.sp-force-hide ( display: none;).sp-form ( display: block; background: ; padding: 15px; width: 100%; max-width: 100%; border-radius: 0px; -moz-border -radius: 0px; -webkit-border-radius: 0px; font-family: Arial, "Helvetica Neue", sans-serif;).sp-form .sp-form-fields-wrapper ( margin: 0 auto; width: 700px;).sp-form .sp-form-control ( background: #ffffff; border-color: #cccccc; border-style: solid; border-width: 1px; font-size: 15px; padding-left: 8.75px ; padding-right: 8.75px; border-radius: 0px; -webkit-border-radius: 0px; width: 100%; label ( color: #333333; font-size: 13px; font-style: normal; font-weight: bold;).sp-form .sp-button ( border-radius: 0px; -moz-border-radius: 0px; -webkit-border-radius: 0px; color: #ffffff; font-weight: normal; font-family: sans-serif; : none; -moz-box-shadow: none; -webkit-box-shadow: none;).sp-form .sp-button-container ( text-align: right;)
“I think there is a need to invest in Bitcoin, especially now that the credit cycle is turning and inflation is rising around the world. Traditionally, in times of inflationary expectations, gold has been the asset to hold; Now Bitcoin can become an alternative asset, because it is not subject to inflation. Bitcoin, like gold, is limited in quantity, but does not have the inherent disadvantages of gold, such as storage and liquidity.”
Other reputable market players believe that you need to invest in bitcoin, but at the same time you have to be very careful, because at the moment there is no clear global regulation that would detail who should protect investors or the system as a whole. Experts also pointed to the lack of a real market as a key factor favorably influencing the price of Bitcoin.
“Bitcoin has no real market and therefore is not functional.”
Moreover, the high volatility of the Bitcoin cryptocurrency has raised concerns about its longevity. Michael Collins, co-founder and CEO of GN Compass, explains why by referring back to Bitcoin's original purpose:
“When Bitcoin was created, it was meant to be just a digital currency, but today people use it as an investment vehicle. Therefore, since it is not used only as a currency, but also as an opportunity for speculation, its price fluctuates wildly. Additionally, there are only a small number of Bitcoins that are actually traded on the market relative to the overall market capitalization, making its price easy to manipulate. This creates almost “greenhouse conditions” for pumps and dumps.”
In general, we see that expert opinions are divided. Some are categorical in their statements regarding the bright and successful future of the leading crypto coin, while others are much more critical when drawing up an analytical forecast for 2020.
Let's start with the fact that no one denies the fact that digital money compared to traditional much more promising. And Bitcoin, as the first cryptocurrency in every sense, has a potentially great future due to many advantages, namely:
When compiling analytics, experts also take into account the fact that Bitcoin's popularity is constantly growing, and with it the volume of transactions using a given digital currency and its total market capitalization. The positive dynamics for both criteria are clearly reflected in the graphs:
Transactions with Bitcoin cryptocurrency
Total market capitalization of Bitcoin cryptocurrency
However, everything is not so rosy. Experts are paying increasing attention to the legality of cryptocurrency and say that in terms of the prospects of Bitcoin and the further growth in the value of its tokens, the main obstacle is the lack of its illegal status almost throughout the world.
At the moment, only a few countries have legalized Bitcoin (USA, UK, Canada, Australia, Estonia, Denmark, the Netherlands, etc.).
At the same time, there are countries that oppose cryptocurrency and Bitcoin in particular.
Thus, Bitcoin is prohibited in China, Bangladesh, Iceland, Vietnam, Thailand, Bolivia, etc.
If other countries begin to fight Bitcoin in the form of official bans on its use, this will cast a huge shadow on its reputation. Pessimists are confident that national governments will never agree to legitimize a coin with such prospects.
Thus, an optimistic Bitcoin exchange rate forecast for 2020 looks like this:
$30,000…$60,000 per 1 BTC
Pessimistic Bitcoin exchange rate forecast for 2020:
$3,000…$5,000 per 1 BTC
Bitcoin forecast by month
Bitcoin forecast for March 2020
Bitcoin rate for March 2020: maximum rate $7038.2, minimum $5535.31, average $6286.76 → changes compared to the previous month +1.65%
Bitcoin forecast for April 2020
Bitcoin rate for April 2020: maximum rate $7676.13, minimum $5500.92, average $6588.52 → changes compared to the previous month +4.8%
Bitcoin forecast for May 2020
Bitcoin rate for May 2020: maximum rate $6931.12, minimum $6924.53, average $6927.82 → changes compared to the previous month +5.15%
Bitcoin forecast for June 2020
Bitcoin rate for June 2020: maximum rate $8735.98, minimum $8334.17, average $8535.08 → changes compared to the previous month +23.2%
Bitcoin forecast for July 2020
Bitcoin rate for July 2020: maximum rate $10071.39, minimum $9055.72, average $9563.56 → changes compared to the previous month +12.05%
Bitcoin forecast for August 2020
Bitcoin rate for August 2020: maximum rate $12614.34, minimum $10003.48, average $11308.91 → changes compared to the previous month +18.25%
Bitcoin forecast for September 2020
Bitcoin rate for September 2020: maximum rate $15131.32, minimum $11569.01, average $13350.16 → changes compared to the previous month +18.05%
Bitcoin forecast for October 2020
Bitcoin rate for October 2020: maximum rate $16567.55, minimum $13363.51, average $14965.53 → changes compared to the previous month +12.1%
Bitcoin forecast for November 2020
Bitcoin rate for November 2020: maximum rate $16686.57, minimum $16477.05, average $16581.81 → changes compared to the previous month +10.8%
Bitcoin forecast for December 2020
Bitcoin rate for December 2020: maximum rate $19317.81, minimum $16266.76, average $17792.28 → changes compared to the previous month +7.3%
Bitcoin forecast for January 2021
Bitcoin rate for January 2021: maximum rate $23023.21, minimum $23005.42, average $23014.32 → changes compared to the previous month +29.35%
Bitcoin forecast for February 2021
Bitcoin rate for February 2021: maximum rate $31069.33, minimum $20206.57, average $25637.95 → changes compared to the previous month +11.4%
| Month | Max. well | Min. well | Average rate | Changes, % |
|---|---|---|---|---|
| March 2020 | 7038.2$ | 5535.31$ | 6286.76$ | 1.65% |
| April 2020 | 7676.13$ | 5500.92$ | 6588.52$ | 4.8% |
| May 2020 | 6931.12$ | 6924.53$ |
Will next year be the year of Bitcoin, will it finally be used as widely as fiat currencies - and will the price reach $10,000? The world's best Bitcoin specialists will tell us about this...
We've pulled together Bitcoin price predictions for 2017 from key members of the digital currency community - including several CEOs and venture capitalists. One important fact to note: all predictions about the future of Bitcoin are optimistic. They all believe that the price of Bitcoin will rise over the next year. Several forecasts say that the price of Bitcoin will double from where we are today ($890).
Bitcoin Price Predictions
To find out what Bitcoin's progress will be and what its direction will be, nearly a dozen leading members of the Bitcoin community were surveyed with these three questions:
What was the most significant development for Bitcoin in 2016?
In which areas of the Bitcoin world do you expect to see the most progress/change in 2017 and why?
What is your Bitcoin price forecast for December 2017?
They answered the following...
Bitcoin price forecasts and predictions for 2017
Elizabeth McCauley - Head of Coinsecure, Bitcoin Exchange in India
Elizabeth McCauley is the Business Head of Coinsecure, India's Bitcoin exchange.
block reward halved.
What will be the most significant progress/change in 2017: All eyes will be on how Bitcoin performs in emerging markets. We have already seen the value of Bitcoin skyrocket in countries like India, where governments that promote confiscatory exchanges of large denominations are pushing citizens towards other currencies, including Bitcoin. International money transfers are also a huge application for Bitcoin, and I expect those market players who currently dominate the money transfer market to turn their attention to the Bitcoin blockchain for transferring money between countries.
good question. The price will definitely reach $1,000, and most likely go further.
Spencer Bogart - Analyst at Needham & Co
.The most significant development for Bitcoin in 2016: In 2016, Bitcoin already showed the qualities of digital gold, as we saw that the value of the digital currency immediately reacted to unexpected events at the macroeconomic level, such as Britain’s exit from the EU, the withdrawal of large banknotes from circulation (India, Venezuela), inflation (Argentina , Venezuela, Brazil), currency devaluation (Chinese Yuan), Trump's election, capital controls, and so on. This trend is facilitated by the fact that Bitcoin markets are open 24 hours a day, 7 days a week, and participation in these trades does not require permits or is subject to restrictions.
: There will be many, but if I were asked to name two points, it would be:
1) Transition to second-layer systems (for example,), which have enormous opportunities to improve the throughput of the Bitcoin network, and make the use of digital currency more convenient. Perhaps an even more important aspect of the transition to Layer 2 networks is the ability to innovate dynamically: it is very difficult to make updates and changes to the core protocol, as this would require the agreement of an absolute majority of network participants, which is extremely difficult to achieve. However, it is much easier to make changes to the network at a higher level, on top of Bitcoin like the Lightning Network, and I think this will open up new use cases for Bitcoin while also improving the user experience.
2) Large Investors: Since Bitcoin has emerged as digital gold, we have seen an increase in interest from large investors in accumulating Bitcoin. We expect this trend to accelerate in 2017.
: Needham currently has a fair Bitcoin price of $848. / Obloms, already higher /
Benjamin Small is the director of market research at the Gemini Bitcoin exchange.
: I really think 2016 was the year of Bitcoin. We saw that the financial world showed great interest in Bitcoin, and the attitude became more serious. Regulators have also become more balanced with their oversight. In the media, we hear less about criminal enterprises like Silk Road and more about the potential of Bitcoin.
What will be the most significant progress/change in 2017? : I think 2017 will be the year of digital currency adoption - not just with Bitcoin-based products coming out, but also with major financial institutions getting involved. The momentum that began in 2016 will continue.
: refused to answer.
Michael A. Robinson - Director of Technology and Venture Capital Raising, Money Map Press
The most significant development for Bitcoin in 2016 : More important than the rise in the price of Bitcoin (which I predicted some time ago) is the fact that the digital currency is becoming popular among the general population. Oddly enough, this manifests itself through products that are based on Bitcoin technology - that is, blockchain - used as the key technical element financial services.
What will be the most significant progress/change in 2017? : I think that in the coming year we will see more large companies on Wall Street and beyond using this platform for deals and financial transactions.
Bitcoin price forecast for 2017 : higher than now.
Jan Valjavec is one of the founders of ICONOMI
The most significant development for Bitcoin in 2016: from our point of view, 2016 was the year in which “tokenization” was born, as new form collecting money. We have seen the first steps towards pre-sales of digital tokens and the transition of company shares also into the form of digital tokens. Initial Coin Offerings (ICOs) have become popular, with the help of which startups can promote their business ideas, and even their products, directly turning users into investors, eliminating intermediaries (venture capitalists) from the process. Investors can contribute Bitcoin or other digital currencies to what they believe will be a useful development. With an ICO, the market decides whether an investment is worthwhile, and the entire process of raising money is completed in about a month. It takes at least six months to raise capital using the traditional method, and at least another six months to reach Series A funding.
What will be the most significant progress/change in 2017? : I would stop at the words “bitcoin world” and say that we are talking more about the world of blockchain. In 2017, we will see that most of the development will happen not with Bitcoin, but with altcoins, (Ethereum and Ethereum-based tokens). We will see in the next few months that new digital currencies will become very popular and their price will increase rapidly, and this is especially true for Ethereum add-ons such as DigiX, Golem, ICONOMI and SingularDTV.
Bitcoin price forecast for 2017 : We see a gradual increase in the price of Bitcoin, or at least market stability, but in 2017, we believe in widespread adoption of application coins. It is very important to note that while traditional fiat currencies are currently depressed, the overall market capitalization of digital currencies is growing significantly.
Anthem Hayek Blanchard is the director of Anthem Vault Inc.
The most significant development for Bitcoin in 2016 : I think the most important story in 2016 was the persistence of the Bitcoin core developers and the mining community in solving the problem of scaling to increase network throughput, which was a headache throughout 2015.
What will be the most significant progress/change in 2017? : I think the scaling problem will be solved by Segregated Witness, or "SegWit", which was released in October with possible adoption in 2017. If implementation occurs, which requires the consent of 95% of Bitcoin miners, users will receive lower fees when making transactions, and miners will see increased income due to a more efficient organization of the existing Bitcoin network. The mere existence of SegWit should add confidence to Bitcoin and increase its adoption in the coming year.
Bitcoin price forecast for 2017 : I think we will see a price of $1,000 per Bitcoin in December 2017.
We move on to the final group of predictors who see a Bitcoin price of at least $1,000 - and in some cases significantly more...
Alan Silbert - Founder and Director of BitPremier
The most significant development for Bitcoin in 2016 : I'll say it's SegWit. This is a start to addressing the scaling issue (which everyone agrees needs attention), as well as addressing transaction flexibility and other changes.
What will be the most significant progress/change in 2017? : The micropayment model will begin to gain traction, and Bitcoin will increasingly be used to protect against foreign exchange risks on an international scale as currency wars arrive. India has opened this Pandora's box and other countries will also declare war on cash. Other scaling solutions besides SegWit will emerge.
Bitcoin price forecast for 2017: $1,450, why not?
Gene Kavner - Director of iPayYou
The most significant development for Bitcoin in 2016 : While there were no major improvements to the Bitcoin ecosystem in 2016, this year showed us all that Bitcoin is more than just a store of value. 2016 was the year when “trust in Bitcoin” increased significantly. It has shown resilience to events such as block rewards being halved and the number of transactions increasing to fill the existing block volume. Bitcoin is also increasingly seen as a hedge against global issues such as the Brexit vote, the election of Donald Trump, and the confiscation of high-denomination bills in India.
What will be the most significant progress/change in 2017? : The biggest advance for Bitcoin in 2017 will be adoption among everyday users. Many products that make Bitcoin easier to use are becoming more popular, and more users are trying to use some Bitcoin. I also expect a solution to the block size issue, which the adoption of Bitcoin Unlimited should help significantly with.
Bitcoin price forecast for 2017: The price in 2017 will likely reach $2,000 and even $2,500, but by the end of the year it will settle in the range of $1,000 to $1,500. As Bitcoin is increasingly seen as a safe-haven asset, unexpected world events could disproportionately increase the price of Bitcoin .
Darin Stanchfield - Director of KeepKey
The most significant development for Bitcoin in 2016 : Bitcoin markets have matured and although the price is rising, volatility is decreasing. This year we have seen remarkable price stability, which has brought further capital inflows and increased investor confidence.
What will be the most significant progress/change in 2017? : I think in 2017 it will become obvious that the coin is not going to leave us. For a long time, this invention was considered an experiment. I think there will be a consensus around the idea that the experiment is over and digital currency is ready to go out into the wider world. This means that we will see adoption of the technology by large companies, and governments will issue clear guidelines on its use.
Bitcoin price forecast for 2017 : I think the price of Bitcoin will break through its all-time high [$1,216.73] next year, and I wouldn't be surprised if the price of Bitcoin doubles next December [$1,500 based on today's levels]. Bitcoin markets, although they have grown, are still relatively small, and at this early stage, price doubling and tripling is the norm rather than the exception.
Vinnie Lynham is co-founder and director of Gyft; member of the board of directors of the Bitcoin Foundation
The most significant development for Bitcoin in 2016 : Reduce block reward by half. [Note: The reward for solving a block on the Bitcoin blockchain dropped from 25 Bitcoins to 12.5 Bitcoins on July 9, 2016.]
What will be the most significant progress/change in 2017? : Adoption of SegWit, and possibly other scaling solutions such as Lightning. The year 2017 will undoubtedly be the year of solving the scaling problem.
Bitcoin price forecast for 2017 : range from $2,000 to $3,000 (in December), but I think throughout the year the $3,000 mark will be overcome and the price will consolidate above $2,000.
Tim Draper is the founder of venture capital firm Draper Fisher Jurvetson (DFJ)
The most significant development for Bitcoin in 2016 : [Indian Prime Minister Narendra] Modi with the rupee exchange, which introduced many Indians to Bitcoin. [Note: In November, India made the old style 500 and 1000 rupee notes, which account for 86% of currency circulation, invalid without warning.]
What will be the most significant progress/change in 2017? : I think 2017 will be the year when people start using Bitcoin the same way they use fiat currencies.
Bitcoin price forecast for 2017 : $10 000.
Afterword: The US Securities and Exchange Commission will approve the Winklevoss Bitcoin Trust, an exchange-traded fund based on Bitcoin, in 2017. This fund will make it much easier to invest in digital currency, but of course, investors will have many questions.
Want more news?
