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Large companies are targeting long-term Bitcoin predictions



Bitcoin predictions are always hot topics, even more so when they are made by industry heavyweights and huge corporations. There have been some of them in the last week or so and the numbers are not small.

$ 150k Bitcoin From Tom Lee

Fund Lee Strat Global Advisors LLC Tom Lee is still of the opinion that the crypto market is too small to support an exchange-traded fund. The US Securities and Exchange Commission has prevented several attempts to have a crypto-ETF launched, but that may not be something bad according to the Bitcoin bull Lee.

He spoke to Bloomberg, adding that large funds can be launched with about $ 13 billion first. years of demand. For Bitcoin to meet this demand, he suggested that it should be priced around $ 1

50,000.

At the Blockshow conference in Singapore on Friday, Lee said;

"The SEC must play the ETF until the crypto gets bigger, but the demand for an ETF is monstrous. "

He added that they are doing a good job by protecting individuals which is how the mainstream will eventually get involved in crypto.

"Institutions will not touch crypto if they think the SEC is not doing a good job. ”

The $ 150,000 price tag is not too high and others believe it may be even higher. Pantera Capital founder Dan Morehead has also talked about price predictions for Bitcoin.

At the inaugural "Unchained" earlier this year, he said BTC could reach $ 42,000 by the end of 2019 but looked at current performance that seems very unlikely. [19659004] A longer-term prediction could see BTC reaching $ 356,000 by 2022, according to Morehead.

"Graphing the price of Bitcoin logarithmically, the trend will grow to 235% compound annual growth rate … And if you just extrapolate that line for another year, it's $ 122,000 per Bitcoin and then another year, $ 356,000. "

He added that transaction rates will also greatly improve as the network develops. When asked about an ETF he said it could take many years, which echoed Lee's sentiment.

CEO of Bitcoin wallet provider Xapo, Wences Casares, made his own prediction earlier this year with the high $ 1 million call for 7 to 10. This would be on the assumption that BTC succeeds as the financial experiment that began a decade ago.

He added that everyone should own some Bitcoin and that the condition could escalate prices to seven figures.It was a condition that BTC has a 20% chance of failure but he also predicted 50% c his to succeed because it has done so for the last ten years.

"But after 10 years of work well without interruption, with more than 60 million holders, adding more than 1 million new holders a month and moving more than $ 1 billion a day worldwide, it has a good chance that succeeds. ”

Bitcoin price forecasts are always points, but the general outlook from the heavy industry is a bullish long-term future for BTC.

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