Blockfyre CEO Simon Dadic predicted multiple price increases for BTC, Ethereum and other altcoins. Can the first cryptocurrency rise in price by more than 15 times and what can prevent it
Bitcoin will go up to $ 150,000, said co-founder and managing partner of Blockfyre startup Simon Dedik in his Twitter account. According to him, in 2017 it was possible to increase capital by buying any altcoin. This will not happen again, however, the most famous cryptocurrencies, such as BTC or Ethereum, will still show multiple growth.
A significant increase in the price of bitcoin was predicted by many representatives of the crypto industry. For example, Blockstream CEO Adam Back predicted in early June that the price of an asset would rise to $ 300,000 in five years. We learned from experts whether such a scenario is real, and what could hinder this.
$ 150,000 Bitcoin - Possibly
Bitcoin currently costs around $ 9,600. If its rate rises to $ 150,000, then such an investment will increase capital by more than 15 times. And such growth can happen, said Grigory Klumov, founder of the Stasis.net stable cryptocurrency platform.
According to him, the increase in the cost of the main digital coin, firstly, can be helped by the placement of colossal volumes of savings in it. Investors can invest in BTC 0.5-1% of their capital, thus forming a new class of assets. Klumov’s assumption is supported by the example of Paul Tudor Jones, the founder of the Tudor Investment hedge fund. In May, the billionaire said that he invested 1% of his assets in the first cryptocurrency, that is, about $ 50 million.
Secondly, a new rally can help the growth of bitcoin quotes, Klumov believes. If it happens, then it will convince even the most stubborn skeptics. In this regard, they will be forced to buy cryptocurrency at a higher price, as due to unbelief they missed the opportunity for a more profitable entry point.
The probability of an increase in the cost of bitcoin to $ 150,000 was also made by the CEO of Cryptorg.exchange Andrey Podolyan. In his opinion, national digital currencies can help this. With their help, you can inflate the price of cryptocurrencies, as was done with the Tether stablecoin.
“Now the growth of bitcoin is also taking place with the help of the stablecoin USDT, which has already been printed 9.2 billion. Digital national currencies are just starting to be issued, and there will be more and more of them. I think that it is quite possible to pump BTC with them, ”suggested Podolyan.
He noted that another significant factor that opens up the possibility for the multiple rise in price of bitcoin is the relatively low capitalization of the cryptocurrency market. It is significantly lower than in other markets. For this reason, there is still room for a “bubble”, and above all, this is possible due to an increase in the price of the most popular coins, for example, BTC, Ethereum or BNB.
$ 150,000 Bitcoin - Unlikely
In May, the monthly cryptocurrency derivatives trading set a new record. Compared to the previous month, this value increased by more than 30% and set a historic maximum at around $ 602 billion. This is approximately 32% of the total amount of all transactions made on the digital asset market.
The cryptocurrency derivatives market is gradually growing, and this is a moot point for investors, continued Podolyan. In his opinion, bitcoin futures are the main obstacle to a significant increase in the price of BTC. The crypto market is starting to look more and more like standard markets, as evidenced by the emergence of such instruments as futures and options.
The head of Six Nines data center Sergey Troshin doubted the growth in the cost of bitcoin to $ 150,000. He agreed with the general opinion that limited emissions would help to increase the price of an asset. Moreover, the number of coins in circulation will become smaller not only due to the halving. Users will lose access to cryptocurrencies, for example, forgetting passwords from wallets or for other reasons.
But before the limited supply of bitkion significantly affects its price, it can become obsolete as a technology, Troshin explained. The first cryptocurrency has flaws. For example, it is inferior to payment systems such as Visa and Mastercard in the speed of transactions and the ability to work with a large number of users.
“I am inclined to the option that before Bitcoin goes up to $ 150,000, there will be some more interesting cryptocurrency that does not have the disadvantages of BTC ... and will replace it,” Troshin suggested.
$ 150,000 Bitcoin - controversial
The views of experts regarding the rise in price of bitcoin more than 15 times diverged. It is believed that the price of cryptocurrency will increase as it gradually becomes a new asset class. In this case, the rally will be able to convince any skeptics.
In favor of rising cost of BTC says limited emissions. But before this has a significant effect on the price of an asset, it can be replaced by another, more developed technology that does not have the disadvantages of cryptocurrency.
