Bitcoin has become a subject of discussion, and a lot of analysts are debating on the future prices of the currency. It is currently trading at $52,000 and might even reach $500,000 by the end of the decade, says Anthony Pompliano. That’s not it, he also said that eventually, the prices of Bitcoin might cross $1 million a coin. But before going and investing all you have in Bitcoin, you should know that there are a lot of analysts that talked about the risky side of the trade.
Could Bitcoin cross $1 million?
Even though many analysts are very bullish on the future of cryptocurrency, many are equally bearish about it. Micheal Burry, well known for the Big short, often calls Bitcoin a bubble that’s waiting to burst. While on the other hand, there are many analysts that have their theories why Bitcoin might crash again. But today, we are all bullish so let’s take a look at what positive analysts gotta say about cryptocurrency.
Anthony says that he believes that the market worth of Bitcoin is going to be more than gold eventually. And that fact seems to be backed by the idea that institutions, banks, companies, funds everyone are investing in cryptocurrency. Tesla’s investment in Bitcoin was another major reason why the price of the cryptocurrency surged and became even more acceptable to the general public.
Even if you are not a believer of Bitcoin but are invested in Tesla, Microstrategy, or Square, you hold Bitcoin as the form of these companies’ stocks. With the growing value of Bitcoin, the government has been constantly printing money and injecting them into the economy. Ultimately this is resulting in the dollar losing its value. Ance hence banks are looking at Bitcoin as a hedge to the bleak economy ahead. So, yeah, Bitcoin could cross $1 million, and till it doesn’t, i am gonna stay invested in it.
The target of the cryptocurrency!
All bullish investors and analysts are giving price targets that are 3, 5, 10, or 20 times the current price of Bitcoin. A co-manager of the $850 million ETF fund said that he expects that Bitcoin could reach $250k in the next 3 years, And this is no surprise as if Bitcoin does last and gets adopted that price target is far below than actual expectations. Bitcoin is slowly becoming digital gold for investors as the value of the cryptocurrency increases. And hence it makes sense that the cryptocurrency fulfills all price targets and eventually crosses our expectations.
What are your thoughts on the price target of $1 million by the end of this decade? Let us know in the comments below. Also, if you found our content informative do like it and share it with your friends.
Also Read: The world’s largest Dogecoin holder has more worth then Tesla’s Bitcoin investment