Bitcoin price has always been a hot topic to the crypto related people, some of them tried to predict the price, some found positive sides of the bearish market in 2018, some still believe in the future and world-recognition of the first cryptocurrency.
Director of PayPal in his turn also decided to make a prediction concerning the price and prospects of Bitcoin. According to an essay published on Kana and Katana, Wences Casares said that Bitcoin would cost $1 million in 7-10 years, citing:
“In my (subjective) opinion those chances of succeeding are at least 50%. If Bitcoin does succeed, 1 Bitcoin may be worth more than $1 million in 7 to 10 years. That is 250 times what it is worth today (at the time of writing the price of Bitcoin is ~ $4,000).”
The question is how Bitcoin will actually succeed. The thing is that Bitcoin is actually quite a successful coin. Its current price is over $5000 dollars, Bitcoin’s share is 51.8% of the total market capitalization. In monetary terms, it is $91 billion. It also operates as a decentralized network for nodes, miners, users, etc.
Casares said that Bitcoin will not replace main currencies, yet it will be an alternative way of saved and secured money transaction.
“If Bitcoin succeeds it will most likely not replace any national currency. It may be a supranational currency that exists on top of all national currencies. If Bitcoin succeeds it may be a global non-political standard of value and settlement,” he said.
We have seen many examples of Bitcoin price’s predictions, however, we are still unknown which one is the most accurate.
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