“At this point, in 10 years, Bitcoin will be worth between $800k to $1 million. When you look at a log graph there is no doubt Bitcoin will be worth around a million in 8 to 10 years, dependent on adoption.”
Those are the words of a Bitcoin “insider” who believes due to the function of Bitcoin’s “halving” that the price will logarithmically increase.
With every Bitcoin bull run, it inevitably dips, then recovers at least twice was it was at its peak. Just look at a log graph of its value since 2009. The economical value of a network is calculated by the number of users in the system also known as Metcalfe’s Law. In this case, Bitcoin is proving this to be true. The value comes from the network. Adoption is increasing, so the value will grow.
The highs and lows of Bitcoin are predictable, and after each fall or downtrend in price, the price actually gains around 200% of its lowest value from the previous dip. So, we see higher lows, and much higher highs, for each cycle.
The Timeline of Bitcoin’s Price, on the way to one million dollars:
- Mid-2019 – $3,000
- Late-2019 -$10,000
- Early-2020 – $22,000
- Mid-2020 – $55,000
- Late 2020 – $250,000
However, there are risks. We must be aware of downtrend cycles and their repeating patterns. I believe Bitcoin is not fully finished with its current downturn, and may reach $3,000 sometime in the year of 2019. By 2020, we will see an incredible spike and bull run, if not by late 2019.
Is it time to prepare to purchase and hold Bitcoins?
Yes, it is. You should be buying as much as you can. If you’re wondering, “Will Bitcoin reach one million dollars?” I can safely predict that it will, and much sooner than you think.
The only catastrophe that could threatening Bitcoin is an EMP event or electrical grid shut down. Even then, cold storage wallets could potentially still be used, along with solar charging to charge cell phones and transmit the coins. Indeed, even in a worst-case-scenario, Bitcoin may still have a functional value as a means of exchange.
You may also be wondering about other cryptocurrencies. We believe Bitcoin, Litecoin and Ravencoin are the best investments, long-term, at this time. We recommend reading our article on Bitcoin exchanges (it’s not the best news), so you can find out ways to purchase Bitcoins.
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