Bitcoin to reach $1,000,000 by the year 2020 - ATG News

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Saturday, December 16, 2017

Bitcoin to reach $1,000,000 by the year 2020



Bitcoin to reach $1,000,000 by the year 2020



What had seemed like an unfathomable call for bitcoin to hit $10,000 just months ago became a reality last week with bitcoin pushing north of $11,000 per coin just hours after taking out the $10,000 level. Next year, some bitcoin bulls are projecting the world’s most valuable and popular cryptocurrency could hit $40,000 per coin.

With the price of Bitcoin reaching multiple new all-time highs in the last few weeks, the tease of BTC reaching $1 million sounds like pure fantasy. McAfee creator and founder John McAfee himself said that bitcoin will reach $1 million by 2020.

Chamath Palihapitiya , founder of Social Capital and co-owner of the Golden State Warriors, while talking about the value and potential growth of Bitcoin in an interview with CNBC on Tuesday said that the price of the digital currency will ultimately reach $1 million per coin

A Hong Kong trader who successfully forecast the bitcoin price’s dramatic year-end ascent believes that the flagship cryptocurrency’s rally is far from over. Dave Chapman, managing director of cryptocurrency trading firm Octagon Strategy, told CNBC’s “Squawk Box” that many analysts scoffed at him when he predicted the bitcoin price would more than double in the fourth quarter and reach $10,000 before the end of the year.

Chapman said that the launch of bitcoin derivatives is a sign that cryptocurrency is “growing up,” and he added that he would not be surprised if the bitcoin price reaches $100,000 before the end of 2018. Nevertheless, he cautioned that becoming too fixated on cryptocurrency prices will cause people to lose sight of the truly revolutionary aspects of the technology.

“The price to me is probably the most uninteresting component about bitcoin. I’m more excited in the applications and more excited about what this means for people who don’t have access to financial inclusion,” Chapman concluded. “If we focus on the price, we’re losing track of the big picture.”

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.

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