Referring to a tweet posted on the 30th of June by Bitcoin core’s official twitter handle, the tweet shows an analysis of how the value of Bitcoin had progressively increased in the past and speculations on its value in coming years.
$100K In 2019?
The tweet which gives a record of Bitcoin price since 2009 has been noticed to have steadily added a digit at the end of every two years.
The analytical data shared had no specific dates in which the prices had hit these levels, but at some point, the value of Bitcoin which was some pennies at its initial stages in 2009 became $10 in 2011, $100 in 2013, $1,000 in 2015, and $10,000 in 2017. This precedence has confirmed that the value had added an extra digit every two years interval.
Furthermore, future predictions for the value of Bitcoin in 2019 and 2021 stands at $100K and $1M respectively.
This report has seen a lot of replies since it was posted with some members of the crypto community confirming these figures, some not in agreement, while others are just seating to watch what happens in coming years while they hodl onto their cryptocurrency investments. As noted by a Twitter user, if the trend continues, it should hit a trillion dollars by the year 2033.
How Possible Can This Be?
While we may all think these are predestined, and things will just keep forging ahead like in one-way traffic, investors should note there’ll be a lot of bumps on the road.
Regardless of technical analysis or opinions of big wits in the cryptocurrency industry who have in the past predicted positively or negatively as regards to the price of the virtual currency, the price is still based on demand and supply of the cryptocurrency.
Other factors which have been proven to have a positive impact on Bitcoin is halving, with the next halving expected in 2020.
Regardless of where the price goes, the community should have in mind that any prediction is mere speculation and it’s important to note that everyone should only invest what they can afford to lose.
Meanwhile, as technology continues to grow, the community expects a lot of institutional funding coming into the cryptocurrency market, most especially Bitcoin as the community continues to battle challenges facing the industry.