In 2017, Bitcoin dropped from an all-time high of $20,000. Since then, a slight but significant increase in Bitcoin prices at regular intervals, usually send waves of enthusiasm among observers, investors as well as traders in the crypto market. In a reversible instance, a drop in Bitcoin prices usually send waves of panic in the crypto market.
Cryptocurrency News Today – Bitcoin Price Prediction – Bitcoin News Today – Bitcoin Market Capitalization To Surge Above $1.5 Trillion?
Bitcoin bulls are certain that Bitcoin’s market capitalization will be floating around $1.5 trillion by the end of 2020, from Bitcoin latest updates. This conviction is based on the fact that cryptocurrency awareness has greatly increased due to changes in the regulatory landscape, infrastructural investments, and the strong attention brought by Facebook’s Libra. Karim Heiden, a Bitcoin bull and a business developer in the crypto community, “a trillion-dollar market lies in the future implications of Bitcoin and ETF”. Karim stated that the only way Bitcoin will command a trillion-dollar market cap is when a Bitcoin ETF is approved. Otherwise, the possibilities are not high.
Karim further remarked in his bitcoin prediction and bitcoin price analysis, “the price of Bitcoin will increase exponentially. To make it more interesting, picture this: we have all seen the order books. We have noticed those transactions where a person fills in an order of 1.500 BTC. That ‘whale’ will be insignificant when you compare it to the whales that will enter the crypto market when ETF is finally approved”. In further remarks, Karim Heiden expects institutions and big investors to invest in bitcoin, drawing demand and pumping bitcoin prices. The current BTC dominance stands at 65.7%.
Apart from Karim, other permabulls are upbeat about the future of cryptocurrency and bitcoin. Willy Woo, who is a partner at Adaptative Capital and a market analyst gave his bitcoin price analysis and prediction on a podcast. He predicted that the Bitcoin market cap would have surpassed $1 trillion by 2021. According to him, bitcoin is getting closer to a cycle that will help it surpass the current gold market capitalization in the long run.
“Crypto is money and money has been around since civilization began. Bankers say it’s a bubble, technologist call it disruption but students of history would say it’s the dawn of a new era… if we are in a digital age, we really want a digital currency, and crypto is undoubtedly our first native digital currency”, said Woo.
Bitcoin News Today – Bitcoin Price Prediction – Bitcoin Latest Update – BTC Halving Is Going To Promote A Surge In The Price Of BTC
Another crypto enthusiast, Chris Burniske, founder of Placeholder expects Bitcoin’s market cap to blaze past $1 trillion with the period Woo predicted. But Burniske is banking on the Bitcoin halving event that is projected to take place by mid-2020 for this to happen. Quoting Chris during the recent Ethereal summit, “if volatility halves, the Bitcoin market cap could reach $1 trillion by 2021. All of the cryptos could reach $3 trillion by the next bull market”.
“Observing the top 10 crypto assets at the end of each year, I’m forced to think Bitcoin will get to $1 trillion on its own in the next bull market”, Burniske said in a tweet.
Apart from the three bulls that have been mentioned, other bulls believe that Bitcoin may attain a higher price in a few years from now. If the bitcoin market attains the $1.5 trillion mark, it would require BTC to trade at $40k to $50k. John McAfee is one bull who sees BTC trading as high as $1 million.