According to a group of 55 cryptocurrency specialists, the price of the most popular cryptocurrency, Bitcoin ($BTC), might soar to $270,000 by the year 2030. This is with estimates for the end of this year still pointing to the cryptocurrency’s price increasing.
In contrast to their earlier prognosis of $25,400 given in July of this year. The expert panel, surveyed by comparison web portal Finder, forecast that BTC would trade at roughly $21,000 by the end of this year. The portal’s expert panel forecast that in April 2022, the main cryptocurrency would finish the year at about $65,000 per coin.
The panel’s $270,000 forecast for 2030 is far less optimistic than the $420,000 price forecast they gave in April of this year, when $BTC was trading at the time. Even though there has been a substantial sell-off in the cryptocurrency market so far this year. Also, the panel’s predictions have nevertheless remained upbeat.
Prices are still reportedly expected to rise significantly by the end of this year. Serhii Zhdanov, the CEO of EXMO, predicted that BTC would trade for $25,000 by the end of this year and at $1 million by the year 2030. Zhdanov remarked:
Nothing fundamentally has changed for Bitcoin, it’s a global capital crisis and Bitcoin is affected in a short term but will recover; a lot of other financial assets will not.
Bitcoin Is A Store Of Value
Notably, 77% of the panelists from Finder feel that Bitcoin is a store of value. Despite the fact that some respondents said they thought the leading cryptocurrency has lost that position this year.
The web portal also indicated that 46% of the panelists think that the moment is right to acquire bitcoin. That’s, while 44% agreed that it is best to hold onto one’s holdings of digital assets. Only 10% of respondents said they thought it was a good time to sell cryptocurrencies right now.
The most frequent justification for purchasing Bitcoin is the conviction that macroeconomic forces. Rather than fundamental modifications to the cryptocurrency itself, are keeping its price low.