When it comes to Bitcoin price prediction, there was recently one made by a very credible person, Eric Voorhees. So just who is Eric Voorhees……
He is a prominent cryptocurrency businessman. He was born in the US but later moved to Dubai, New York City, and New Hampshire. He was the founder and original CEO of Coinapult and Director of Marketing at Bitinstant. His most successful project so far is Shapeshift, a cryptocurrency trading platform, which offers instant exchange services for Bitcoin, Litecoin, and many other cryptocurrencies.
He recently made a bitcoin price prediction in late April 2017 of a bitcoin price of $10,000 by 2021!
You can read the original article HERE…..
This information, this bitcoin price prediction is EXTREMELY exciting! First of all, 2021 is only 4 years away, and with the recent upswings in the value of the bitcoin price, it really could happen!
Since January, 1 Bitcoin = $900 and at the time of this post 1 BTC = $1659! When I was RE-introduced to Bitcoin in April 2016, 1 Bitcoin was worth $459! Now that is appreciation in a very short time!
What if you had bought 1 bitcoin in April 2016, and cashed it in today? Could you use an additional $1,200 today?
Now back to the bitcoin price prediction…..
Bitcoin Price Prediction
Going by the bitcoin price prediction of Eric Voorhees that the market capitalization of global cryptocurrency market may grow by ten times in the next four years, we may see Bitcoin price going over $10,000 by 2021 if the current top digital currency maintains its share of the market by then.
Erik Voorhees predicts that the entirety of the token market, which as an asset class has surpassed $30 bln, would be worth more than $300 bln in the next four years.
In response to a question on which is the most used token for something other than speculation, Voorhees cites Bitcoin. He says it is used “to send hundreds of millions of dollars all over the world instead of expensive and slow and censored bank networks.”
According to CoinMarketCap.com, the market cap of all digital currencies as at Wednesday, April 26 stood at approximately $31.6 bln. Bitcoin’s dominance is put at 66.3 percent even as at the price of each unit hits $1,300.
Erick Voorhees Technical Rationale
For Bitcoin Price Prediction
Below is Eric Voorhees technical rationale for his Bitcoin Price Prediction, valid but financially technical. The excerpt below is from the original article referenced above.
“”According to the number of Bitcoins that will exist in the near future, there is likely be 19,031,250 units in circulation by the end of 2021. If Bitcoin is still dominant with a 66 percent share, a projected $300 bln market cap will leave it at $198 bln. This gives us a projected Bitcoin price of $10,403.
The World Economic Forum had suggested that a tipping point wherein 10 percent of global gross domestic product (GDP) would be stored on the Blockchain technology would occur around 2027 – though 58 percent of its study’s respondents expect it to have occurred by 2025.
At around $20 bln, WEF puts the total worth of Bitcoin in the blockchain at about 0.025 percent of global GDP of around $80 tln. Unlike Voorhees’ view that remittance is playing a role in the token market, the international organization cites some impacts to be expected in the next four to 10 years.
They include increased financial inclusion in emerging markets, as financial services on the Blockchain gain critical mass; disintermediation of financial institutions as new services and value exchanges are created directly on the Blockchain and an explosion in tradable assets “as all kinds of value exchange can be hosted on the Blockchain.” “”
What Does This All Mean To You
Even though the above explanation is financially technical, the bitcoin price prediction is valid. So the question is why not catch this wave of value appreciation or growth to increase your own financial future and outlook?
If you could have 1 bitcoin NOW, or in the recent future and hold it till it increases in value to $10,000 more or less in 4 years, wouldn’t it be worth to find out how?
And if you could make residual income DURING those 4 years, AS WELL AS increase the NUMBER of bitcoin that you OWN, again wouldn’t it be worth it?
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