Bitcoin will be a hit or putty? Forecasts strongly divergent

Recently, we have a flood of information and forecasts about the future price of the most famous cryptocurrency - Bitcoin. As it is on a young market, the analyzes are based on a lot of freedom - some people value BTC at 30. dollars, and even 0,5 million dollars for a single Bitcoin, while others say that within five years the cryptocurrency ... will completely disappear.

So far, we've heard mainly about how expensive Bitcoin will be. Analysts competed in pricing. And it's hard to be surprised. The cryptocurrency was already worth 20 thousand. dollars at the top and according to many it was supposed to be just a stop. Today Bitcoin costs about 8 thousand. dollars. How much will it be worth in the future?

Check it out: Brokers offering Bitcoin - Summary

30 thousand dollars for Bitcoin. Who gives more?

Jihan Chu, one of the founders of Kenetic Capital in an interview with Bloomberg, predicts that Bitcoin will soon cost 30 thousand. dollars. We will see this price this year. Three important factors are to ensure this.

"We have ten years of bitcoin history behind us and only now are we starting to see this story as a reality. People really know now that the cryptocurrency will not disappear. " - says Jihan Chu.

Most important, in his opinion, is that large companies have not yet benefited from the cryptocurrency. That's why Facebook has to have "Globalcoina", or your cryptocurrency. JP Morgan is working on JPMCoin. The obvious thing is that both companies will be interested in increasing the price of their cryptocurrencies. And the better mood in the entire cryptocurrency market, the easier it is to grow.

The second thing is disappointment with large public offers. Both Uber and Lyft did not give investors a good income. That is why many people will look for new types of investments with an above-average rate of return.

The most concrete argument, however, is that we are getting closer and closer to reducing the reward for Bitcoin mined. The division into half for the next blocks in the bitcoin blockchain awaits us in May 2020. Each time, the timing of the split fueled increases, also on other cryptocurrencies - for example Litecoin.

"The combination of these three factors will lead us to the 30 thousand. USD " - believes Jihan Chu.

30 thousand? I am giving 400 thousand USD for Bitcoin

If such a big increase seems unrealistic, it's time to sit down, because this is just the beginning of the auction. Mark Yusko, founder and CEO of digital asset management company Morgan Creek Capital, stated that Bitcoin will cost $ 400k. dollars. However, it provided a slightly wider time horizon - it forecasts such an increase in the next 10 years.

"Gold is a currency from 5. years. That's about $ 7,4 trillion in value. The best thing about Bitcoin is that it's practically digital gold. However, it has more advantages: for example, that it is much easier to transport and can be divided into smaller parts anywhere in the world. It has all of these basic features that are superior to gold. If we get a capitalization equal to gold, which would be around 7,4 trillion, divide by 21 million coins, that's just 400. dollars per coin, and maybe even 500 thousand. dollars for one Bitcoin " Mark Yusko explains.

“Cryptocurrencies will disappear. All"

Meanwhile, in recent days we have learned a completely different forecast. And it is not about the price drop, but the total ... liquidation of cryptocurrencies.

It began with a letter from the California Society of CPAs (CalCPA), in which the association is pushing for clearer rules for accounting and disclosure of cryptocurrencies. The Financial Accounting Standards Board (FASB) was asked to update the so-called General Accepted Accounting Principles (GAAP) - rules regulating accounting in the USA. The answer of the chairman of the International Accounting Standards Board (IASB) Hans Hoogervorst is negative and the surprising reasoning is:

“The IASB typically takes five years to develop a new accounting standard. My prediction is that cryptocurrencies will disappear sooner. " Says Hans Hoogervorst.

Similar opinion is also the head of FASB Russell Golden:

"The number of companies working with virtual currencies is still very limited around the world." - convinces the head of the Financial Accounting Standards Council in the USA.

Who's right? Maybe both sides. The only certain thing is that we will get to know the answer within five years at the latest.