Cryptocurrency

Expert Forecasts: Bitcoin Is At These Levels In December!

Bitcoin has struggled over the past few months, falling more than half from its high of around $65,000 set in April. Bitcoin price is still significantly higher than it was before it started its last rally in October, a bull run that sent the total cryptocurrency market cap to $2.5 trillion before pulling back. Now, some cryptocurrency experts who shared their intentions in a panel claim that Bitcoin will surpass the US dollar as the dominant form of global finance by 2050, with the price of Bitcoin rising to just over $66,000 by the end of 2021.

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Bitcoin comment from cryptocurrency experts

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A panelist, Thomson Reuters technologist and futurist Joseph Raczynski, thinks Bitcoin will surpass $150,000 by 2025, thus dethroning the dollar. “Some countries will choose Bitcoin as their preferred primary currency,” Raczynski said. Fixed circulatory will serve these countries enough for them to switch to a ‘bankless’ model inherent in this ecosystem, with ease of transfer.”

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Cryptocoin. com

As we reported , this year El Salvador adopted Bitcoin as a legal means of payment alongside the US dollar. Other Central and South American countries have stated that they can do exactly the same thing to get rid of dependence on the dollar. However, it is alleged that the price of Bitcoin will fall further before it finds a base. Experts have converged on the assumption of a price of $25,000 – which means a $8,000 decrease from the current $32,000 price of BTC.

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BTC assumption with argument from Arcane Crypto analyst: $500,000 in 2030

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54 percent of the panel surveyed by personal finance comparison site Finder expect Bitcoin to eventually surpass fiat currency by 2050, while 44% of panelists, including associate professor Lee Smales of the University of Western Australia, don Bitcoin. It does not expect it to become the dominant form of global finance. “I think ultimately Bitcoin (and many other cryptocurrency assets) will lose against central bank digital currencies (CBDCs) – these will be operational in more than one decade,” Smales said.

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Panel made an average Bitcoin price prediction of $318,000 by the end of 2025 in the medium and long term. “We are standing in the middle of the institutionalization process of Bitcoin,” said Arcane Crypto analyst Vetle Lunde, who predicts a BTC price of $120,000 at the end of 2021 and thinks it will be $300,000 by the end of 2025 and $500,000 by 2030.

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