Several cryptocurrencies have continued to surge in their popularity as well as in profit earning. Unfortunately, however, a lot of altcoins have fallen further down the pecking order due to one reason or the other. While some potential investors have shown apathy to cryptocurrency, several experts believe that there is a bright future for digital currencies.
This post shall take a look at what the various experts in the crypto ecosystem are predicting concerning the top coins in the market.
Experts’ prediction for bitcoin
Various crypto and financial experts have made some predictions regarding the price and sustainability of bitcoin. Here are a few of them:
Joe Davies Predicts $0
The renowned economist, Joe Davies, is one of the few experts who believe that bitcoin will soon go to zero value since it does not stark up as a traditional investment. In a 2018 opinion piece, Joe said,
As for bitcoin the currency? I see a decent probability that its price goes to zero.
Bill Gates also predicts $0
Microsoft’s Bill Gates is another expert who does not believe that bitcoin will be here for a long time. Speaking about the coin on CNBC, Gates said,
As an asset class, you’re not producing anything and so you shouldn’t expect it to go up. It’s kind of a pure ‘greater fool theory’ type of investment. I agree I would short it if there was an easy way to do it.
He further said that he was given some bitcoin by someone for his birthday, but he sold it a few years later.
Jack Dorsey believes Bitcoin will be internet’s native currency
Although Twitter CEO Jack Dorsey did not predict a particular future price, he thinks bitcoin would become probably the internet’s native coin. In a podcast interview with Joe Rogan, Jack said,
I believe the internet will have a native currency, and I don’t know if it’s bitcoin. I think it will be [bitcoin] given all the tests it has been through, and the principles behind it, how it was created.
Tom Lee Sees bitcoin hitting $25,000 by 2022
Tom Lee, the co-founder of Fundstrat Global Advisor, is one of those experts who see bitcoin from a positive viewpoint. In one of his predictions, Tom said that bitcoin would be $25,000 by 2022.
Bobby Lee sees bitcoin at $60,000
Bobbly Lee, Head of the Bitcoin Foundation, is enthusiastic that bitcoin would hit $60,000 by the end of the year. According to Bobby,
When #Bitcoin passes the USD $60,000 price level in the coming years, it‘ll reach a total circulation value of $1 Trillion. That will be a huge #milestone for $BTC, and it‘ll lead to more price stability, higher global liquidity, and even faster adoption worldwide. #VirtuousCycle
— Bobby Lee – Ballet: Simple & Elegant Wallet (@bobbyclee) August 24, 2018
There are several other predictions we would love to talk about for time and space. Some of the predictions have come close to being fulfilled, while others seem to be far from being realistic.
For instance, Tim Draper, founder of Draper Associates and DFJ, believes that bitcoin will undoubtedly hit $250,000 in value by 2022.
John McAfee, on the other hand, authoritatively says that if bitcoin failed to hit $1 million by the end of 2020, he would eat his penis.
When I predicted Bitcoin at $500,000 by the end of 2020, it used a model that predicted $5,000 at the end of 2017. BTC has accelerated much faster than my model assumptions. I now predict Bircoin at $1 million by the end of 2020. I will still eat my dick if wrong. pic.twitter.com/WVx3E71nyD
— John McAfee (@officialmcafee) November 29, 2017
Bitcoin reached its all-time high price of $20,089 on December 17, 2017. However, it has managed to reach $13,796.49 on June 26, 2019
Experts’ prediction for Ethereum
Here is what top experts are saying concerning ethereum as well:
Joseph Raczynski: $1,000
In an interview on Finder.com, Joseph Raczynski, the founder of Joe Technologist.com, predicted that ethereum could reach $1,000 by the end of the year. Joe’s conviction is built on the fact that ethereum is the most real project to date, and nearly all large organizations are testing on the platform.
Nigel Green Foresees Ethereum at $2500
Nigel Green, the CEO of deVere Group, an independent financial consulting company, has forecasted that ethereum could reach $2,500 by the end of 2018. Nigel said then that,
The price of Ethereum is predicted to increase significantly this year, and could hit $2,500 by the end of 2018 with a further increase by 2019 and 2020, … This general upswing will be fueled by three mains drivers. First, more and more platforms are using Ethereum as a means of trading. Second, the increased use of smart contracts by Ethereum. And third, the decentralization of cloud computing.
Some experts have even predicted prices higher than the $2,500 set by Nigel. Crypto enthusiasts watch with keen interest to see what comes of these predictions.
The highest price ethereum has ever attained is $1,432.88, which it got on January 13, 2018. The coin has, however, struggled to reach $361.40 on June 26, 2019, its highest for this year so far.
Predictions for Ripple’s XRP
Peter Brandt: XRP to face a ‘do or die’ moment
In April 2019, the price of XRP was at $0.309, Peter Brandt predicted that the coin had always rebounded at this level. He, however, believed that the ability to recover from the recent Bitfinex-driven losses would determine what happens next.
— Peter Brandt (@PeterLBrandt) April 27, 2019
$10 in 3 months!
In June, Smartereum postulated that XRP would reach $10 in three months despite the bear market.
Some experts believe that XRP would reach $1 by the year’s end, while others think it would perform better than this. Unfortunately, three has just past with the coin not able to beat the $1 mark.
XRP had its all-time high price on January 4, 2018, when it rose to $3.84. However, it has never come close to that price for the whole of 2019 so far. The likelihood of getting to $3 this year still looks dim.
Several predictions have been made by experts concerning the prices of the top-performing cryptocurrencies. Unfortunately, only a few of the predictions have been realistic.
Nonetheless, quite a number of forecasts have come close to being realized. We still believe that with the global acceptance of a lot of the coins and investors’ participation in the crypto ecosystem, the world is likely to witness a substantial rise in the prices of these coins.