Some have forecasted that Bitcoin will surpass gold bullion, valued at $1.6 trillion. This would mean that 18 million Bitcoins would be worth about $90,000, according to Peter Smith, CEO and co-founder of Blockchain, the most popular Bitcoin wallet. Another billionaire investor and co-founder of Morgan Creek Capital, Mark Yusko, predicted that Bitcoin would be worth at least $400k in the long term. Yusko also suggested that Bitcoin would become the gold equivalent.
In his book “Why Buy Bitcoin? Why Not Now?”, Andy Edstrom, wealth manager at WESCAP, predicts that Bitcoin will hit a high of $100,000 within the next three years. Keiser also predicts that Bitcoin will hit $400,000 by 2020, which is higher than his previous prediction of $100. Bitcoin will likely continue to rise exponentially in the coming years, with a market cap approaching $8 trillion.
While cryptocurrency is gaining popularity in mainstream markets, the future of regulation is uncertain. If the United States government bans crypto currency holdings, ownership would likely move offshore. This would severely undercut the value of the digital currency. As such, it is essential to understand how this will affect the price of cryptocurrency. You can invest in cryptocurrency by following the experts’ recommendations. The value of Bitcoin will continue to rise, so long as you can keep up with the inflation rate.
Investing in cryptocurrency requires careful planning. As with any investment, you should invest only the amount you can afford to lose. In May, for instance, the price of Bitcoin hit a high of $20,000. The mainstream media was quick to spread the news about the rise of Bitcoin and encouraged retail investors to buy the currency. However, it went down, and some people knew the market would rebound. This is how bitcoin investors react to the news of the year.