Big Time Investors Make Big Time Predictions for Bitcoin
Michael Novogratz predicted that Bitcoin’s price would get to $10,000 USD in October. His timetable for reaching that landmark was just within 6 months. One month later, Bitcoin surpassed $10,000 for the first time in its short history. As of today it’s valued at $15,369 and rising, a mere one month after Novogratz’s prediction. Not to be outdone, John McAfee has joined in the fun of making predictions concerning the anticipated value of Bitcoin. What does McAfee have to say?
McAfee believes that the price of Bitcoin could exceed one million dollars by 2020. McAfee also intimated that if the price of Bitcoin didn’t exceed $500,000 USD he would “eat his own penis on live TV.” To what extent you buy into McAfee’s bullishness is up to you, but considering the meteoric and exponential rise in the value of Bitcoin over 2017, it does not appear outlandish to assume that if Bitcoin trends throughout 2018 the same way it trended throughout 2017, we will see it reach six figures by 2020. And that’s a conservative estimate.
What’s true is that blockchain technology is finding more and various uses, while tech entrepreneurs figure out various ways to make it easier to transact with. Distributed ledger technology has proven to be a disruptive technology that can change the face of currency, transactions, and commerce forever. For now we will all have to sit back and enjoy the ride and see what the price roller coaster beholds.
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