Investment Experts Bullish On Future Of Bitcoin
Bitcoin’s crash in the early months of 2018 has had little bearing on the enthusiasm surrounding its future prospects among investment experts.
A number of trusted commentators have recently maintained their predictions of huge growth for Bitcoin in the next few years.
A $40 trillion market cap “definitely possible”
Dan Morehead, the founder and CEO of cryptocurrency hedge fund Pantera Capital, recently forecast that the cryptocurrency market will one day be worth $40 trillion.
That would require a 10,000% growth of the market, but Morehead believes there is potential for this.
He said, “It’s a fascinating market, a $400 billion market that nobody owns, we’ve never seen that before. The industry as a whole could easily go to $4 trillion. $40 trillion is definitely possible. It’s the ten-year forecast, it’s not going to happen overnight.”
Could Bitcoin grow to $250,000?
A 10,000% growth in the cryptocurrency market would mean that one Bitcoin would trade at almost $1 million if current market share distribution remained consistent.
That is an incredibly bold prediction, although experienced tech investor and venture capitalist Tim Draper has been among the commentators forecasting incredible growth for Bitcoin over the next five years.
Speaking to Reddit, he recently said: “I’m thinking $250,000 a Bitcoin by 2022. Believe it. They’re going to think you’re crazy, but believe it. It’s happening and it’s going to be awesome!”
Impressive growth for Ethereum around the corner?
The co-founder of Reddit, Alexis Ohanian is another advocate of Bitcoin in the short-term future, stating that he believes it’ll reach its all-time high of $20,000 this year.
However, he believes that Ethereum – the second biggest cryptocurrency by market cap – has even more potential for growth in 2018. He forecast that Ethereum would reach $1,500 per token this year, up from its current value of around $730.
“I’m most certain about Ethereum’s capacity to be at the top simply because most people are building on it,” he explained.
Indeed, the ability to create new cryptocurrencies using the Ethereum blockchain has always appeared to be its biggest selling point. With more and more blockchain projects threatening to disrupt a whole range of industries in the coming year, Ohanian’s comments may not surprise too many Ethereum investors.
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