Since the introduction of cryptocurrency and subsequently Bitcoin, there have been a lot of changes in this market since 2009.
Bitcoin has been a shining example of what is possible – good and bad. It started as an experimental asset for an investment portfolio and mainstay and now has cult status. It is in an asset class all it’s own and equivalent to digital gold. Factors supporting high Bitcoin prices include wide market acceptance by traditional companies as well as rising demand.
Several financial experts speculate that it is possible for Bitcoin prices to touch $100,000 as early as 2022 or latest by 2023. This event is expected to happen by March 31st 2022, the end of the first quarter. Other experts choose not to name a specific date but think that Bitcoin prices may only reach the $70,000 mark.
Carol Alexander, a finance professor at the University of Sussex, UK, thinks that Bitcoin will tank and be priced at $10,000 in 2022. All of the gains made so far will vanish.
Other billionaire investors think that Ethereum has the potential for growth and will do better than Bitcoin. This is because Bitcoin doesn’t have the same demand-pull in the market as Ethereum and other up-and-coming cryptos. The biggest threat to Bitcoin prices is huge market volatility and experts are divided into price rises and dips. It depends on who you talk to. Investors have to believe that this crypto is actual digital gold and buy. With a limited supply, it is quite possible.