The bitcoin price forecast is always a hot topic, especially if the main representatives of the
crypto industry and large companies make it. Recently, there have been several such forecasts,
and the figures were impressive.
Tom Lee from “Fundstrat” company still claims that the cryptocurrency market is too small to
support bitcoin ETFs. In his opinion, the US SEC does not approve bitcoin ETFs for this very
reason.
In an interview with “Bloomberg”, Tom Lee said that large ETFs launching would require at
least $13 billion a year and bitcoin must be at the $150,000 level for that to happen.
Speaking at the BlockShow conference on November 15 th in Singapore, Tom Lee also
mentioned:
“The SEC intends to postpone ETFs until the cryptocurrency market becomes sufficiently
large, although the demand for ETFs is great”.
Bitcoin costing $150,000 is not the highest estimation for the main cryptocurrency. For example,
“Pantera Capital” founder Dan Morehead, previously speaking on the “Unchained” podcast, said
that bitcoin could reach $42,000 by the end of 2019 (although the current price dynamics does
not imply this). At the same time, Dan Morehead’s long-term forecast claims that bitcoin will
cost $356,000 in 2022.
According to him, if we evaluate bitcoin on a logarithmic scale, “we should expect 235% of the
total annual growth”, which should lead to the $356,000 price of bitcoin in 2022.
Dan Morehead is confident that the speed of bitcoin transactions will also be significantly
increased as this network develops. When Morehead was asked about the bitcoin ETFs, he also
said, “It could take many years”.
CEO of the Xapo bitcoin wallet Wences Casaresalso made his own forecast for bitcoin – $1
million in 7-10 years, if bitcoin “remains a successful financial experiment that began 10 years
ago”.
According to him, if everyone buys at least some bitcoins, it can lead to an increase of the price
“up to seven digits”. At the same time, he takes into account the 20% probability of failure, and
the 50% probability of success, focusing on the last 10 years.
Wences Casaresalso also associates the success of bitcoin with the monthly growth of the
number of users, the volume of its transactions and the age:
“10 years of good work nonstop, 60 million owners, more than 1 million new users per month
and $1 billion transactions per day around the world are good chances for the success of bitcoin”, he said.