How High Can Bitcoins Go

This year took a rocky start for Bitcoin but experts are still saying that Bitcoin will hit a $100000 margin.

Firstly, Bitcoin faced a huge drop, below $20000 recently because investors bailed out continuously of risky assets in between macroeconomic uncertainty. Multiple factors are aiding the growth of economic anxiety includes a trembling stock market, recession factors, surging inflations, and rising interest rates. The Bitcoin market has progressively kept track of the stock market in a recent couple of months and this makes it more winded with the economic factors around the globe.

Unfortunately, the price of Bitcoin is extremely difficult to predict as it is more susceptible to factors of the market than the established classes of assets. But, a crypto expert Jared, have delivered his best guesses and we will discuss all how high can Bitcoins go in the upcoming years. 

Prediction of Bitcoin

So, last year Jared easily predicted that Bitcoin will reach a $100000 price and it faced its all-time high in the month of November followed by its fall. Since then the predictability of Bitcoin turned trickier. 

Some being extreme skeptics of Bitcoin say that Bitcoin will stoop low in this year (as low as 10000 dollars), whereas, Jared says that the Bitcoin can still reach $100000 as predicted in the last year.

But now, few experts are re-evaluating the Bitcoin industry altogether like big corporations such as Nike are seeking ways to monetize the products in the metaverse of digits. Metaverse worlds, experiences, games, and products are increasing in the Altcoin’s popularity, which has made the investors change their sentiments over Bitcoin-the original crypto.

Thus, multiple experts are hesitating to predict a date and a number, whereas, they are not done pointing to the Bitcoin’s trend that is increasing its value with time. According to Jared, investors now can expect a sustainable growth of Bitcoin’s extended value that is driven by the movement of the organic market along with a near-sight threshold of $100000. While many experts expect short-term volatility and long-term growth from Bitcoin.

Presenting you a few more predictions made by Jared that are ranked from high to low:

1. $13 million by the year 2031: Here Jared’s point of view is related to digital asset consultation and marketing. Inflation post-Covid-19 might drive people’s interest in Bitcoin, pushing its value higher compared to the previously estimated projections. Experts speak about the wider social implications of Bitcoin as a currency of more decentralized, and transparent currency.

2. $100000 by the end of 2022: Here Jared’s point of view is related to blockchain data and technical analysis. The Bitcoin price in the month of January was almost similar to its price in the month of January in the previous year 2021 but, there has been a demand generated for Altcoins. There is an ongoing trend where Bitcoin supply is leaving big-shot or major exchanges that are presumably going to be collected in offline Bitcoin wallets. Experts also say that a dip lower than $45000 might lead to �free fall’ in the Bitcoin market.

3. $100000 to $155000 (timeline is not clear): Jared says, Bitcoin currency is in a cycle of bearish sentiment, but the other or total crypto-currency market asset classes are not. To everyone’s knowledge the first-ever cryptocurrency was Bitcoin but, according to Jared, currently, other currencies have surpassed it in the field of innovation when it will come to �Web 3′ (what crypto experts call) or is also known as the new build of the internet on a blockchain. The Altcoin release and the metaverse hype are going to drive or push upward Crypto currencies’ demand, therefore, Bitcoin will also eventually bounce back to its original form.

Jared, being a crypto expert mentioned few factors that will influence Bitcoin’s price.

According to him, the general economic factors that influence the Bitcoin’s price similar to any other investment or currency. The normal factors can be demand and supply, news cycle, scarcity, market events, public sentiment, and many more.

• Scarcity: Firstly, there is only eighteen to nineteen million bitcoin in circulation in current times. Its minting will cease at twenty-one million. Experts in the industry are constantly pointing to its scarcity built-up as a major part of Bitcoin’s appeal. There is an increasing demand and fixed supply of Bitcoin. Many also believe that Bitcoin has value due to the fact that people value it.
• Mainstream adoption: Secondly, another important factor that drives the price of Bitcoin upwards is the purchasing rate at which the consumers are exploring and buying. The adoption rate of Bitcoin has been drastically increasing at a rate of one hundred and fifteen percent annually. If people prefer Bitcoin at a rate that can be compared to the early days of the internet, there will be one billion users by the year of 2024 and four billion users by the year 2030 according to reports from CoinShares. Last year the number of new consumers increased by forty-five percent to sixty-six million estimated new users. 
• Regulation: Thirdly, all the federal officials have conveyed that in recent times they are paying more attention to Bitcoin. Regulation has been developing over the last few years but regulators can always change their plans or mind.
• Mining cycles: Fourthly, another major influence on the crypto especially Bitcoin’s price is a mining cycle called halving. Halving is algorithmic and complicated in nature. Halving is a step related to the mining process of Bitcoin that results in a reward for transactions for mining Bitcoin that gets cut in half. Halving can influence the new coin circulation that creates an impact on the existing value of Bitcoin holdings.

Halving has correlated with bust and boom cycles. Many experts also try to predict these mining cycles to the day post the concluding event of halving.

Endnote

Jared as a crypto expert and financial planner does not advise to invest while Bitcoin’s price is fluctuating. This can lead you to take a decision emotionally. His research has shown that investors, who can regularly contribute to ETFs and passive funds of the index, can perform better over time. All credit goes to a strategy known as cost averaging of dollars.

This is where Jared recommends not investing more than five percent of the overall cryptocurrency portfolio. He also suggested a forecast and converter tool where you can get the maximum benefit and best results with Bitcoin. Earn the most by using these predictions!

I hope this article was able to provide you with an idea of how high can Bitcoins go.