Bitcoin Price Prediction By 2020 - Sourajit Saha

Friday, 9 June 2017

Bitcoin Price Prediction By 2020

​Bitcoin is now very popular nowadays. No need to introduce bitcoin, all marketing players know well about bitcoin. So I am skipping this part. Only the thing- this cryptocurrency had been started in 2009. At that time, one Bitcoin was equal to 31 cents. And right now one bitcoin equals to 2460.34$. So the change is just huge, huge and huge. unbelievable. Still, i will say bitcoin is just a little boy. It's just eight years old. I have read many articles and predictions on bitcoin written by stock market specialists and economists. Bitcoin's price has the potential to hit over $100,000 in 10 years, which would mark a 3,483 percent rise from its recent record high, an analyst who correctly predicted the cryptocurrency's rally this year told CNBC on Tuesday. Coinspeaker says, Three Years Ago This Equation Predicted $2400 Bitcoin for 2017. In 2020, It Says Bitcoin Will be $30,000.
Bitcoin Price Prediction

As I said, I have seen many bitcoin value predictions over the internet, and to be honest, you can not say any prediction fully perfect. Maybe it would not reach even half of that level within this time, or maybe it will be double. A full of uncertainty. Whenever I read any article, I found one common thing about bitcoin investment, and that is- never invest more than you can afford a loss! Investing is not about 100 percent profit. You may lose, or your may win. Someone's loss is equal to someone's win. Mind it. I have found an article about bitcoin prediction from a bitcoin forum, and here it is.

My long term price predictions are as follows:

Scenario 1

March 1st 2018 - $8,950 per 1 BTC
March 1st 2019 - $68,059 per 1 BTC
March 1st 2020 - $517,536 per 1 BTC
March 1st 2021 - $3,935,454 Per 1 BTC

How I arrived at the above numbers........

July 17th, 2010 bitcoin price was $0.05 (the price when it started TRADING)
and on Dec 6th, 2010 bitcoin price was $375.00
Time interval between both dates is 1604 days or 53 months
The computed doubling time for Bitcoin worked out to be 4.1 months between the two dates
i.e., every 4.1 months over the 53 months period , the price doubled.

I then took the 27th Feb 2017 price of ($1177) as a start date & price and using MS Excel's POWER Function in a spreadsheet projected it forward for the next 4 years again assuming it ( the price ) will be doubling every 4.1 months ( which is historically what it did between July 17th, 2010 and December 6th, 2010)

Scenario 2

July 17th, 2010 bitcoin price was $0.05 (the price when it started TRADING)

28th Feb 2017 bitcoin price was $1177
Time interval between both dates is 2418 days or 79.497 months

Then I took the 27th Feb 2017 price of ($1177) as a start date & price and using MS Excel's POWER Function in a spreadsheet projected it forward for the next 4 years, again assuming it ( the price ) will be doubling every 5.473 months   ( which is historically what it did between July 17th, 2010 and Feb 28th, 2017)

which gives the following price predictions
March 1st 2018 - $5,403 per 1 BTC
March 1st 2019 - $24,699 per 1 BTC
March 1st 2020 - $112,699 per 1 BTC
March 1st 2021 - $516,115 Per 1 BTC

Both scenarios assume that the price doubling is constant going forward, and yes I know it won't actually happen like that, but it a good exercise to see how close I end up being to my original scenario 1 & 2 predictions.

No, I don't mean it's 100 percent correct, but I'll mention some prediction in this post, and I will check it by 2020, which one is close to the reality! Another prediction is here- Bobby Lee, BTCC’s co-founder and CEO recently tweeted about bitcoin price prediction by 2020, which is between $5,000 and $11,000, after the block reward halving. Bobby Lee is an entrepreneur, who regularly makes predictions, also stated the daily inflow would scale accordingly – from the current $2 million a day level, up to $5-$10 million a day.

According to Jeremy Liew, the first investor in Snapchat, and Blockchain CEO and co-founder Peter Smith. In a presentation sent to Business Insider, the duo laid out their case for why it's reasonable for bitcoin to explode to $500,000 by 2030.
BitGo Software Engineer Jameson Lopp revealed that if the seven-year trend of Bitcoin price continues, Bitcoin will be valued at around $250,000 by 2020. Another interesting prediction is here. Three Years Ago This Equation Predicted $2400 Bitcoin for 2017. In 2020, It Says Bitcoin Will be $30,000.

I remember that day when bitcoin was 20000 rupees, and I told my mum, bitcoin is very costly now, if we bought some, it would be great. I had no idea that bitcoin will reach 3000$ (2100000 rupees) by 2017. Currently, I'm holding few bitcoins, and those are saved in a paper wallet. I will not touch them at least for 4-5 years. Bitcoin is really promising, and it is here to stay. Not only bitcoin, but i hope we will see some good results also from Ethereum and Stratis. We have a Facebook community also about cryptocurrency where we discuss everyday bitcoin and altcoins. If anyone wants to invest on cryptocurrency, that's really good but remember that always invest the limit that you afford to lose. Well, no more today. If you have any doubt or question, feel free to contact me here. Just do drop a comment below. If you really really like this post, then please do share it with your friends via social networks like google plus, twitter, Facebook, Linkedin, StumbleUpon etc. if you want to get all the latest updates of this blog, you can like my Facebook page, follow on Twitter or subscribe my blog feed. Take care. Have a nice day.

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Hi, I’m Sourajit Saha, An Online Marketer From Kolkata, India. I Have Been Blogging Since Last Quarter Of 2010. I Started Blogging As A Hobby, And Soon It Turned Into Passion And Later Profession. Click Here To Know More About Me!

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