Its 31st October and its been a decade since Satoshi Nakamoto released its whitepaper. While the wishes pour in for the bellwether cryptocurrency it comes with a few predictions of what the next 10 years could be in store for Bitcoin and cryptocurrency.
The base is built and its time to fly for bitcoin
2018 has been a tough year for the crypto markets. From the highs of USD 20000 bitcoin prices have slumped to near USD 6000. But after the decline, there comes under surprise. For over past 2 months bitcoin has just remained stable, in fact, its stability is much better than the best equity and indices of the world.
It has been near two months, Bitcoin has remained within the $6,200 and $6,800 range, this stability is much appreciated by crypto bulls. For them, it’s a sign that market speculation is on the decline, leaving behind a market that is less volatile. And it’s because of movements such as this the crypto bulls in the industry feel the prices will soon see a steep rise.
Iqbal Gandham, eToro U.K.’s managing director, said the next 10 years will prove positive for Bitcoin. He was quoted saying by the Independent
“Bitcoin has shown great resilience over the past decade. It managed to ride the wave of volatility and has started to address questions regarding scalability,” “Its price, although volatile at times, will fall in line with other assets as its utility increases and speculation reduces. The next decade could see Bitcoin being accepted as the norm when it comes to money transfer and payments. As with any startup idea, early days are always risky, but I feel these are now few and far between.”
Another prediction came in from Nigel Green, founder, and CEO of UK-based financial consultancy firm deVere Group who forecasted that Bitcoin will soon face strong competition within a booming cryptocurrency industry. He was quoted saying again to Independent that
“Bitcoin is what kickstarted the crypto revolution and it has changed the way the world handles money, makes transactions, does business, and manages assets, amongst other things, forever. It all began with bitcoin,” “However, I believe that bitcoin’s influence and dominance of the cryptocurrency sector will drastically reduce in its second decade. This is because as mass adoption of cryptocurrency grows, more and more digital assets will be launched – by organizations in both the private and the public sectors. This will increase competition for bitcoin and dent its market share.”
Nigel has predicted today’s $400 billion cryptocurrency market could reach the $20 trillion mark within the next decade. He was again quoted saying
“There’s an ongoing shift away from fiat money, and the momentum of this is only set to increase over the next 10 years,” “The pace of mass adoption will speed-up and the cryptocurrency market cap can reasonably be assumed to reach at least 5000 percent above its current valuation over the next decade… As such, the market will have grown beyond recognition when bitcoin celebrates its 20th anniversary.”
Well, last 10 years have been fabulous for cryptocurrencies and this prediction makes one believe that the coming 10 years are going to be even fabulous.
What is your price prediction for Bitcoin when it celebrates the 20th Anniversary? Do let us know your views on the same?
Being an active participant in the Blockchain world, I always look forward to engage with opportunities where I could share my love towards digital transformation.