There is plenty of enthusiasm as far as the Bitcoin price is concerned. While not every prediction can be right, it is hard to be wrong these days. Especially people who value a higher Bitcoin price in the future have a good chance of being correct. FundStrat Global Advisor’s Tom Lee claims Bitcoin will hit $25,0000 in five years. A pretty conservative estimate compared to some other predictions we have seen this year.
Financial experts have been divided into the Bitcoin camps. There are those who see a bright future, and those who call it tulip mania. While the latter group is vastly bigger, they are proven wrong time and time again. Especially in 2017, we have seen massive Bitcoin price growth. The year isn’t over yet and reaching $7,500 is still very possible. That doesn’t mean it will happen overnight, but one can dream.
Future Bitcoin Price Growth is Almost Guaranteed
Tom Lee, co-founder of FundStrat Global Advisors, is in favor of a higher Bitcoin price. While he doesn’t make bold predictions for 2018, his long-term vision seems solid. A Bitcoin price of $25,000 in five years from doesn’t seem impossible to achieve.
It would still keep the BTC market cap under $500bn which is peanuts compared to the rest of the financial sector. This is all based on Metcalfe’s Law, which is pretty popular among financial experts. Whether or not it applies to BTC, remains to be seen. Even if the Bitcoin price were to hit $25,000, it would still be a conservative estimate.
Unlike other forms of money, Bitcoin knows no real boundaries. Nor does it need approval to be successful either. The world’s leading cryptocurrency has done its own thing for nine years. It has grown from a useless joke to a $100bn market cap in that time. The future is looking very bright for the Bitcoin price, to say the very least. No one knows where this wild ride will end in five years from now.
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