What Will the Price of Bitcoin be 10 Years from Now?
Meta Description: Wondering what will happen to bitcoin price in the next decade? Find out expert bitcoin price predictions for the next ten years.
Bitcoin came into the world about ten years ago as a revolutionary financial asset. Although it has experienced a fair share of gains and losses in recent years, bitcoin is steadily making its way into the mainstream financial ecosystem. Many cryptocurrency market analysts believe that the bitcoin price will continue to grow beyond the next decade.
Despite the many reports, data, and analyses about the growth and potential future of the bitcoin price, some experts have mixed reactions regarding its position in the next ten years. That could be due to the different price prediction rationales applied in their assumptions. Nevertheless, here’s an in-depth evaluation of what the price of bitcoin will be ten years from now.
The Bitcoin Vision
In a seminal paper released by the Bitcoin inventor, Satoshi Nakamoto, the creator wanted bitcoin to be a decentralized and borderless financial hedge against the fiat currencies controlled by central banks and governments. It was supposed to eliminate the third-party mediations and replace them with peer-to-peer systems. However, that vision seems compromised as high-profile investors and multi-global corporations now account for the most significant bitcoin holdings. That gives them more control over the price of bitcoin in global markets.
However, those fears are quashed away by the continued growth and projected gains in the cryptocurrency market. The value of the cryptocurrency market is now estimated to be worth more than $1 trillion. While there are over 1500 cryptocurrencies currently traded on the market, bitcoin is the ‘’real deal’’ for everyone.
Recent and Current Bitcoin Price Trends
Although bitcoin launched almost a decade ago, many mainstream institutions are just starting to adopt it into their portfolios now. Cryptocurrency analysts argue bitcoin is currently at the foothill of the adoption curve, which means it still has a long way to go. The bitcoin price towards the end of 2019 was $7,200, suggesting it had penetrated only about 0.44% of its target market. Assuming that bitcoin maintains the same performance and penetrates just about 10% of its target market in the next ten years, the price could hit nearly $400,000 by 2030.
In 2020 and 2021, the bitcoin price has continued to soar beyond the expectations of many investors. The cryptocurrency has recorded gains of almost 400% in the last six months, driving bitcoin price to $60,000 in 2021. Those gains are mainly attributed to its ongoing rapid adoption by mainstream financial institutions.
The Potential Bitcoin Price in the Next Decade
Thanks to the recent bitcoin rally by high-profile investors, many institutions increasingly adopt it as part of their financial assets. Many governments around the globe, for example, Japan, have also endorsed bitcoin as a valid means of payment.
As a result, experts say the next decade could unearth the tremendous potential of that cryptocurrency. As with other cryptocurrencies, security has been the most significant concern for most people investing in bitcoin. Secure systems would encourage widespread adoption, making bitcoin a mainstream financial asset in the future.
Multiple bitcoin research papers and informative websites, such as trustpedia use the equation of exchange model to predict the bitcoin price over long durations of five years, ten years, and beyond. The model assumes that the value of every cryptocurrency should directly correlate to the volume of the economy that relies on it. Based on those assumptions and the recent statistics, bitcoin price is likely to experience a significant hike.
Many experts predict bitcoin price will surge by about 4,000% in the next ten years if it maintains the current trend. That means it could hit $397,000 by the end of 2030. Other analysts report slightly different figures, but they agree that bitcoin prices will continue to rocket as we move into the future.
