There are all kinds of optimistic predictions about the price of Bitcoin these days despite the massive market volatility.
At the moment of writing this article, BTC is trading in the green, and the king coin is priced at $30,681.
Bitcoin price predictions
According to the online publication the Daily Hodl, the host of InvestAnswers addresses three possible price points for Bitcoin (BTC) in the year 2030.
In a new video update, the analyst said that his “bear case” for Bitcoin in 2030 is $576,000, which is about 1,886% from current prices.
“So not bad from where we are today. That’s basically a 20x give or take, a couple of dollars, which is a huge return, but still, it is a moving target. Things change all the time. Adoption changes, networks changes, competition changes. Bear that in mind.”
Gold vs. Bitcoin
The crypto analyst also looks at the market cap of gold and posits that Bitcoin could eventually grow to be 40%, 60% or 100% of the precious metal’s market cap, which would equate to $514,815, $785,955 or $1.30 million, respectively, by 2030.
“The digital gold/store of value valuation narrative is very, very important. A lot of people, all the top experts in the place, do look at this as a core market valuation method…”
He continued and said:
“The adoption of Bitcoin is faster than that of the internet, and that of mobile phones right now. Therefore, due to Metcalfe’s Law, this is completely believable.”
Novogratz releases optimistic crypto prediction
Galaxy Digital CEO Mike Novogratz reveals when he believes Bitcoin (BTC) could act as the driving force behind a widespread crypto market rally.
The Bitcoin bull made sure to highlight the reasons for which he believes the king coin is being outperformed by the US stock market.
“Crypto trades poorly. This is going to be a period that tests peoples convictions. We will find a bottom when we do. The break from traditional finance markets is because we don’t have corporate buybacks and giant pension rebalancing that is causing this squeeze in equities.”