The current price trending of Bitcoin suggests that the prices will go much higher in the next 5 years. Bitcoin prognosticators are predicting that by the year 2025 Bitcoin prices will go high as US$ 100,000 approximately.
For the time being the leading cryptocurrency is struggling in the crypto industry to reach near US$11,000 mark. For the past many months, its performance had too succumbed to the impacts caused due to Covid-19 pandemic. Resultantly the fair value of Bitcoin from January to the end of September remained over and above US$10,000.
In these circumstances, many crypto analysts and experts seem not agreeing with the 2025 prediction.
However, considering Bitcoin’s price trending and growth since 2009, there were many several prominent increases in the price. For example in 2011, Bitcoin was under US$ 10 only but it went high as US$ 1,000 in 2013. Similarly, when the cryptocurrency reached 2017, it surpassed its price barrier to a great extent and was traded for US$10,000.
Still, the price trending of Bitcoin is directionless but it remains over and above US$ 10,000 and near US$ 11,000.
The predication has also been denied by Bloomberg Intelligence who suggest that reaching 100 K milestone is still far away. Mike McGlone of Bloomberg Intelligence stated that the milestone is gigantic and keeping in view current trending, it looks impossible. Adding a zero to the price of legendary cryptocurrency is not something new he said.
One cannot foresee the future but mass-scale Bitcoin adoption globally is the key to achieving any predicted target he said.
Yet many believe the target is doable because the rapid increase in the market capitalization of Bitcoin will pave way for a higher price. McGlone commented that at the end of 2020 Bitcoin investors are likely to see a higher price up to US$14,000. Bitcoin is performing like Gold in the trading market, he noted.
There is also a widespread argument that Bitcoin is co-related with traditional trading products such as Gold and Stocks. On many occasions it has been seen if there is a change in stocks/gold prices so is with Bitcoin.
Both trading assets, Bitcoin and Gold, are gaining a lot in 2020. It is expected that they will continue to do so in the future as well.