Bitcoin price prediction is key for every investor. With the prices of cryptocurrencies changing every day, bitcoin’s price speculation will remain one of the most effective tools investors can trade. Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) are some of the most popular cryptocurrencies in the market today. Understanding how the value of these coins will change in the future can enable you to buy or sell them at the right time.
Therefore, we give you our honest expert prediction on the big 3 cryptocurrencies. Sure, BTC is a giant but every serious investor knows that it is imperative to diversify your portfolio. Diversification is not only about minimizing your risk of losing money. It’s an opportunity to earn even more, simply by anticipating further scenarios. But let’s have a look at Bitcoin first.
INTRODUCTION TO BITCOIN PRICE PREDICTION
Given that Bitcoin is the most popular cryptocurrency, it’s advisable to learn a thing or two about it. An anonymous person by the name of Satoshi Nakamoto introduced Bitcoin as the first digital currency in 2009. Unlike fiat currency, there’s no assigned value behind cryptocurrency. Bitcoin transactions can be done instantly without any intermediary. Before reading our reliable Bitcoin price prediction, you should get some Bitcoins first.
How to Get Your First Bitcoin
You can get free Bitcoin in 2020, but that won’t be enough to make you rich. If you like online games, you can get free coins from gambling sites that accept Bitcoin payments. However, you should be careful with the sites as they have many ads and malware. Affiliate programs can be a reliable source of free Bitcoin. You can also buy or be paid in Bitcoin to get your first coin.
A few years ago, Bitcoin mining was very lucrative. Bitcoin cloud mining was very popular and attracted many investors. However, the volatility of Bitcoin has made mining less profitable. To become a Bitcoin miner, you need to cater to high electricity bills and buy mining hardware and special software. Bitcoin mining pools and farming ponds are profitable when based in places with cheap electricity or renewable energy.
Now we assume that you are a proud owner of at least one cryptocurrency. Sure, you are wondering, what is the Bitcoin price prediction for 2020 and beyond. So let’s dive into it.
PRICE PREDICTION OF BITCOIN, ETHEREUM AND RIPPLE
When learning about the future of cryptocurrencies, it’s important to note that Bitcoin’s changes affect most other coins. Therefore, understanding future Bitcoin prices can go a long way in enabling you to invest wisely even in other altcoins. This is also why every Bitcoin price prediction should take at least Ethereum and Ripple prices into account too. You can go through our previous article on Bitcoin’s future value predictions to learn how some experts expect the prices to change with time.
Bitcoin (BTC) Price Prediction
Bitcoin is known to be highly volatile. The Bitcoin price prediction today will not be the same tomorrow or the day after. During these changes, some people make profits while others incur hefty losses. Knowing the expected value of Bitcoin can help you trade at a profit even when other traders are making losses.
Bitcoin has hovered around $10,000 for the better part of 2020. The high chances are that BTC/USD prediction for the last quarter of 2020 will be positive. According to an expert at Bloomberg Crypto Galaxy Index (BGCI) report in June, the price may reach $20,000 before the end of the year. One of the factors that would lead to this price change is the increased use of digital currencies in the wake of the Coronavirus pandemic.
Not everyone’s optimistic that BTC/USD will increase so fast. Ki-Young Ju predicts that the Bitcoin price will drop. He argues that the whales have taken advantage of the coin’s high cost but have transferred the money to other exchanges. Therefore, there are high chances that these whales will be cashing out, leading to a drop in the price. However, Ju does not provide a specific time when this could happen.
According to Anthony Pompliano, BTC/USD will reach $100,000 by 2021. The respected Bitcoin enthusiast is the founder of a crypto-friendly asset management company called Morgan Creek Digital. CitiBank has an even higher prediction of $120,000 by the end of 2021.
At the beginning of the year, Bitcoin started on a low but became bullish after the pandemic’s onset. Philip Swift believes that Bitcoin’s price will be between $92,000 and $137,000 in October 2023. However, he argues that given that Bitcoin is an early-asset, there’s a higher number of risks that make it hard to predict. He says that if the previous cycles continue to play out in the future, this is the exact period when BTC/USD will hit that level.
Jeremy Liew predicts that the value of Bitcoin will reach $500,000 by 2030. He’s a partner at Lightspeed Venture Partners and is also the brain behind Snapchat. Peter Smith supported his views. Smith is the CEO and co-founder of the most popular Bitcoin wallet called Blockchain. According to the June Edition of the Crypto Research Report, the price of Bitcoin will reach $397,000 in 2030.
Bitcoin Price – Live Coin Chart
Ethereum (ETH) Price Prediction
Ethereum is the second most popular cryptocurrency after Bitcoin. If the existing bull market conditions continue, Ethereum prices are expected to increase before the end of 2020. FXStreet predicts that the ETH/USD exchange will be between $400 and $500 by 2020. The website also says the lowest price will be between $350 and $250. According to WalletInvestor, Ethereum’s expected to sell at around $201 by mid-2021. On the other hand, Crypto Research Report shows that ETH may close 2021 at $331.
The price prediction of Ethereum may reach $300 by 2023, according to Longforecast.com. The website argues that the price will then increase by $700 within one year. However, TradingBeast predicts that Ethereum will continue to experience steady growth in recent years and reach $380 in 2023. The June Edition of the Crypto Research Report predicted that the ETH/USD exchange could reach $3,644 in 2030.
Ethereum Price – Live Coin Chart
Ripple (XRP) Price Prediction
Ripple (XRP) is another popular cryptocurrency that supports trans-border transactions at a fraction of what’s charged by the traditional players. At the beginning of this year, XRP/USD exchange was at around $0.20 per coin. By early March, the price increased to around $0.35 before dropping to $0.15 by the end of the month. The coin is selling at around $0.25 at the time of writing this article and may remain bullish and reach $0.312 by the end of 2020, according to TradingBeast.
TradingBeast predicts that the value of XRP may remain between $0.20 and $0.31 in 2021. The average price in 2023 will be $0.30, according to the website. However, WalletInvestor predicts that XRP will be trading at between $0.20 and $0.60 in 2021. Other websites such as Smartereum are even more optimistic, predicting a single coin’s price to reach $1,000 by 2021, which is almost impossible.
Unlike other cryptocurrencies such as Bitcoin, Ripple has continued to build a strong relationship with regulators and other traditional financial players. If this trend is maintained, the adoption of XRP will increase significantly by 2030. Ripple’s price prediction by 2030 varies widely from one expert to the other due to the difficulties of giving an accurate figure within such a long time. It could be anywhere between $10 and $100 a coin or even above these figures.
Ripple Price – Live Coin Chart
TALK WITH EXPERTS
If you’re serious about investing in the cryptocurrency market, it’s advisable to talk with cryptocurrency experts. We can show you how to buy, hold, and sell cryptocurrencies. On top, we’re always happy to give you an updated Bitcoin price prediction. You can contact us and book a 1-1 crypto consultation on any information you may need on various topics such as distributed ledger technology and cryptocurrencies like Bitcoin.
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FAQ ABOUT BITCOIN PRICE PREDICTION
What is Bitcoin price prediction?
Bitcoin price prediction is the act of trying to determine the future value of bitcoin or any other cryptocurrency or financial instrument traded on an exchange. The successful prediction of bitcoin’s future price could yield a significant profit. Every analyst has it’s own way of calculating price predictions. In general, it is a very technical process. Reading charts and listen to the market and influencers to measuring the overall market situation in the short-, mid-, and long-term.
How accurate are cryptocurrency price predictions?
Cryptocurrency price predictions are never accurate. Almost everyone is wrong. Most people tend to be overly optimistic. So far, a significant majority of cryptocurrency price predictions are likely to be wrong. In other words, no one really knows the future price. If you hear from crypto enthusiasts that the prices will go up, then you should always ask yourself, rather this group or person has its own interest in increased or lowered prices.
What will Bitcoin be worth in 2021?
Experts from Morgan Creek Digital predicted Bitcoin will reach $100,000 by 2021. Citibank analysts expect the price of bitcoin to rise to $120,000 by 2021. The announcement that major credit card issuers as well as PayPal will soon accept bitcoin payments opens a golden future for many cryptocurrencies.
What will Bitcoin be worth in 2030?
Lightspeed Venture Partners announced the bitcoin price prediction for 2030 will reach $500,000. The author of this forecast is also the brain behind Snapchat. According to the June 2020 Edition of the Crypto Research Report issued by bitcoin.com, the price of bitcoin will reach $397,000 in 2030.
What will Bitcoin be worth in 10 years?
The range of bitcoin price predictions for the next 10 years is very wide. The Crypto Research Report has predicted bitcoin will be worth $397,000 in 2030. A major Tesla investor has predicted that bitcoin could be worth more than $1 trillion in under 10 years.