However, there is logic in this madness, stemming from the fact that digital currencies like Bitcoin and and the tech behind them like blockchain are the future financial custodians of our fiat-dominated world.
And there are signs, markers and milestones by which assumptions can be made to jump to certain analytical conclusions, just like financial analysts do.
In December 2017, Bitcoin surged up to $20k, but what does the future hold for it, altcoins and blockchain?
We bring you the best of what’s out there from the best at it.
1-Bitcoin price for the short term
For the short term, Crypto twitter analyst [email protected] said Bitcoin has started breaking below support or resistance levels, most recently falling under $9,700. The price moves match previous predictions, envisioning a downward move as low as $8,200 due to “Compressed Volatility, Rising Bitcoin Dominance and extreme levels of Open Interest.”
2-Long term Bitcoin predictions
a-Bitcoin will hit $1 million.
According to Medium.com, John McAfee, McAfee software developer, predicted Bitcoin hitting $1 million by the end of 2020.
The founder of global cybersecurity firm Herjavec Group and Shark Tank star Robert Herjavec says he wouldn’t be surprised to see Bitcoin soar to $1 million. Both agree that money is on an unbreakable path toward digitization, where Bitcoin and electronic payments are the future.
b-Bitcoin will hit $500,000
The owner of Snapchat, Jeremy Liew and Blockchain co-founder Peter Smith predict that by 2030, the price will have reached $500.000.
c-Bitcoin will hit $100,000
In a Feb. 23, 2020, he told CNN that Bitcoin will cross $100,000 mark in 2025.
“I definitely believe Bitcoin will pass $100K in 2025. I believe we can achieve this price before 2025. At the same time, I think a lot of other crypto projects like Tron, Ethereum and XRP will also see bull market.”
d-Bitcoin not yet priced at full potential
According to Forbes, Changpeng Zhao, the widely-respected founder and chief executive of the world’s biggest bitcoin and cryptocurrency exchange Binance, predicts “the bitcoin price will likely increase.”
“I personally believe the halving has not been priced in,” Zhao told BlockTV this week.
In May, the coin reward for mining new bitcoin blocks is scheduled to drop from 12.5 bitcoin to 6.25 bitcoin–cutting the supply of new bitcoin coming onto the market by half.
e-Bitcoin is worthless
Billionaire investor Warren Buffett has claimed that he doesn’t own any cryptocurrency and doesn’t plan to invest in any crypto in a Feb. 24 interview with CNBC. In the interview, he reiterated his negative stance on crypto, arguing that cryptos have “zero” value and don’t produce anything.
3-Crypto banking and investing to florish
Aggregated financial data would encompass historical performance of crypto assets, the amount of investment in each asset, corresponding dates and how all the data relates to general market sentiment and major events. Investors furnished with such comprehensive data would be better positioned to make better trades.
Banks will eventually accept cryptocurrencies and people will start opening Cryptocurrency Bank Accounts, while Cryptocurrency Debit cards Via ATMs or store purchases will become a normal thing. By the same token, no pun intended, Banks will be ready to offer cryptocurrency loans to suitable candidates.
4-Governments to use cryptos
Jonathan Leong, the CEO and co-founder of cryptocurrency derivatives exchange BTSE said recently that governments will focus on Central Bank Digital Currencies (CBDCs) this year rather than Bitcoin, “but as these developments take place, we will see more awareness of and involvement in Bitcoin as well.”
Medium.com says countries with SEC Guidelines will start adopting Cryptocurrencies for their Governments. In the next ten years, we can expect powerful cryptocurrencies to rule the Governments and manage the cash flow in the country.
1-Blockchain will integrate with Internet of Things
IoT is already here and there will be 75.4 billion connected IoT devices by 2025, or 10 IoT devices for every person on earth. When both these giants get combined, we can expect a fantastic future of technologies without any doubts, according to Medium.com. The primary motto of the integration is to render a highly scalable and secure framework for communication between IoT devices.
2-Blockchain will make for an instant processes
Sending money across the world will just require seconds thanks to Blockchain Technology which will also bring in the feature of downloading or file transfer within seconds. Blockchain copies of games, music, videos, books will be sent to your cryptocurrency wallets at a higher speed which would eliminate today’s file transfer services.
3-Blockchain to revive App economies
App stores and marketplaces can thrive exponentially after using the concept of Blockchain. The app economy is highly inefficient due to many intermediaries between the users and developers. Building these stores based on Blockchain will provide transparency, affordability, but most of all — decentralization.
4-Blockchain towards stablecoins
According to Fortune, Blockchain technology will no longer be relegated to just cryptocurrency. Hadley Stern, Chief Operating Officer, Bloq said: “We’ve seen initial interest in blockchain from mature, multinational corporations, but in 2020, we’ll see these firms and more make a substantial and concerted push into blockchain by exploring use cases for stablecoins.”