5 Surprising Bitcoin Price Predictions | How HIGH can Bitcoin Go? 💰

John McAffe… in 2017, all the way through
2019, promised repeatedly to eat his own d**k on national television if Bitcoin didn't reach
$1M in 3 year's time in something later dubbed – The D**kening. Hi, Ante here! There have been countless Bitcoin price predictions
since its inception in 2009. Most of them have already been proven wrong,
however, for the rest of them – the jury is still out. And even though I find price predictions a
fool's game, just for the fun of it, I bring you 5 most surprising Bitcoin price predictions
I've heard so far. The thing with price predictions is that if
enough people make their guess, some of them are bound to be correct, at least once. Anyway, we'll start off with the safest bets
and and progressively move onto more risky ones.

Most of them are tied to the current market
cycle, but some are more of a long term perspective. Prediction No.1
Bitcoin will reach between $100k-288k by the end of this market cycle, according to Stock-to-Flow
Model or S2F. The model itself was created by PlanB. On his website it says PlanB@100trillionUSD
is a Dutch institutional investor with a legal and quantitative finance background, so I
guess he know his stuff, but what it all boils down to is that the model treats Bitcoin as
being comparable to commodities such as gold, silver or platinum. These are known as 'store of value' commodities
because they retain value over long time frames due to their relative scarcity.

As a result of Bitcoin Halvings, flow, or
newly minted units, are being cut by a half every 4 years, which reduces its inflation
in the process and makes it ever scarcer compared to the existing supply, or stock, watch this
video to learn more about it, but basically, PlanB provides all the data and charts, and
historically speaking – it all fits, the price would usually overshoot the target and
then stabilize around it for a while until the next halving, after which, it would start
to increase again. Over the past few years, Bitcoin's „store
of value“ narrative has gradually been adopted widely, as opposed to the „day-to-day payment
system“ narrative, so that also fits perfectly into the model. We'll just wait for a few more months and
we'll se how it goes, but at this point, I don't believe there is any doubt on „whether
Bitcoin will reach $100k“, the real question is „by how big of a margin will it overshoot
it?“.

And by the way, @100trillionUSD is PlanB's
Twitter handle, he posts regularly and I highly recommend you to follow him if you're interested
in this topic. Prediction No.2. This is actually a bundle of predictions made
by investment banks and investment management firms, ranging between $146k and $500k. JP Morgan says that Bitcoin could reach $146k
in the long term as it competes with gold as a safe haven asset. Gold has an estimated market cap od $10T,
while Bitcoin has just recently crossed 1T. By that logic, if Bitcoin manages to take
some market share from gold, that could easily justify these predictions.

But that's not all of it. Citibank set their price target for Bitcoin
at $318k by the end of 2021, saying: „A decoupling of gold from fiat currencies, the
COVID-19 pandemic and the desire for central banks to pursue aggressive quantitative easing
policies could lead to future explosive price growth in bitcoin.“ That comes from Thomas Fitzpatrick, a current
managing director at Citibank. Ark Invest, on the other hand, sees Bitcoin
nearing $500k in the future, as they expect it to surpass gold in total market cap. Let's say Bitcoin reaches the capitalization
of 10T, if we divide that by the current supply, we get the price point of almost $535k. So that explains it. And that to me still seems within the realm
of possibilities, the only question here is the question of time frame. Or, is it going to happen this market cycle
or the next? And possibly even this one. More on that in the next prediction. Prediction No.3. Bitcoin could go as high as $1M, according
to Dan Held, who raised the possibility of Bitcoin reaching one million in something
he called a „Supercycle“.

But before we continue with this one, one
honourable mention – John McAffe… John McAffe in 2017, all the way through 2019,
promised repeatedly to eat his own d**k on national television if Bitcoin didn't reach
$1M in 3 year's time in something later dubbed – The D**kening. His first statement came in form of a tweet,
where he said that he will do what he will do if Bitcoin didn't hit $500k, but he later
doubled down on his bet and said that he will do the same for $1M Bitcoin. It was quite a fun period of time, even though
it was in the middle of a bear market. People immediately made his countdown clock
and it was an inspiration of many memes, but eventually he failed to do so, so it all went
down as a joke. And now, back to Dan Held. In his article, he explains again how the
Bitcoin market moves in 4-year cycles, but this time, as he says, it seems different. By the way, he's been in the space for a very
long time, and this is his third market cycle, so there is some foundation to his claim,
but reasons he mentions for such a cycle are as follows:
a) Macro backdrop He states that between the last financial
crisis from 2008 and 2020, markets haven't had a real recession, but then, all of a sudden,
COVID broke out and it marked the beginning of extreme money printing.

$10T, and now even more than that, was printed
across the world in order to bail out the unstable financial system, which meant the
unavoidable devaluation of traditional currencies, due to diluting supply. And it continued further – recently another
$1.9T stimulus package was approved by Biden administration, and there have been talks
of another $3T package coming. And we all know where that's going… Ever since the start of all the money printing,
all the markets have been on an extreme bull market and the end is nowhere in sight.

Also, I don't believe that just giving away
that kind of money does what the world governments want, but we'll cover that some other time. The next thing he defined is:
b) Institutional herd is here That's pretty straightforward – he wrote
a list of financial institutions and trading legends which recognized Gold 2.0 in Bitcoin. Well, here they are. Since his article, many more companies were
appended to this list, such as Square and Tesla, which made such an investment even
more credible for the rest of the institutions. In short – it's a start of a trend.

C) Singular narrative
We've covered that within the first prediction, but he singled out the Bitcoin „store of
value“ narrative as the only thing that's driving the crypto space forward during these
times. d) Availability/Ease of useI
It is way easier to enter the crypto space now, when I compare it to the previous market
cycle peak of 2017. You can now buy Bitcoin wherever you want
– PayPal, Robinhood, Revolut, a bunch of Bitcoin ATMs, and of course, crypto exchanges, so
it's way more accessible to an average person, which obviusly helps the adoption. So, to sum it up, all of these four factors
create something of a perfect storm for Bitcoin.

It kind of all came together at the same time,
which might prove to be pretty explosive, but again – we'll have to wait and see. Prediction No.4
Hal Finney – one of the Cypherpunks, inventor of Reusable-Proof-of-Work, the second person
ever to mine Bitcoin, and the first to receive a transaction from Satoshi himself, published
a famous price prediction of $10M per bitcoin. And what he wrote is mind-blowing: „It's
interesting that the system can be configured to only allow a certain maximum number of
coins ever to be generated.

I guess the idea is that the amount of work
needed to generate a new coin will become more difficult as time goes on. One immediate problem with any new currency
is how to value it. Even ignoring the practical problem that virtually
no one will accept it at first, there is still a difficulty in coming up with a reasonable
argument in favor of a particular non-zero value for the coins. As an amusing thought experiment, imagine
that Bitcoin is successful and becomes the dominant payment system in use throughout
the world. Then the total value of the currency should
be equal to the total value of all the wealth in the world. Current estimates of total worldwide household
wealth that I have found range from $100 trillion to $300 trillion. With 20 million coins, that gives each coin
a value of about $10 million. So the possibility of generating coins today
with a few cents of compute time may be quite a good bet, with a payoff of something like
100 million to 1! Even if the odds of Bitcoin succeeding to
this degree are slim, are they really 100 million to one against? Something to think about…

Hal“
Just like Hal said – it's an interesting thought experiment, and how likely it is is
anyone's guess, but I don't believe Bitcoin will ever become a primary payment system,
rather, it will coexist with other systems which will be used for day-to-day transactions,
while Bitcoin will be a store of value. But what I'm genuinely fascinated by is the
date of this post. He wrote it on Jan 11th 2009 – so only 8
days after Bitcoin's launch, or its genesis block. For that, Hal had to be a visionary and he
was of immeasureable importance for Bitcoin in the early days.

Unfortunately, he passed away in August of
2014 due to complications with ALS. And finally, prediction No.5. This is more of an extension to prediction
No.4., because an article by Decrypt revises it with new and updated data, saying that
the world's economy has grown in 11 years since the post was made. So, the revised data is that the worldwide
household wealth equals around $360T, and by the same calculation it amounts to $18M.
Keep in mind that Hal, for some reason and probably because of rounded numbers, divided
everything by 20 million coins, instead of 21, and if we take that into account, the
numbers are around 9.5 and 17.1M dollars, respectively. How far-fetched are these, some will live
long enough to see, but for the rest of us, I'm ending this again with a qoute from Hal:
„Even if the odds of Bitcoin succeeding to this degree are slim, are they really 100
million to one against? Something to think about…“ Thanks for watching and I'll see you in Another
Block..

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