Bitcoin's price could reach between $150.000 next year and $1.000.000 by 2030, according to bullish projections by experts.
Bitcoin is the most relevant asset in the financial market today, and not only because of its price appreciation, but because it has proven to be one of the most profitable for investors. According to Goldman Sachs, Bitcoin has proven to be an exceptionally profitable asset over the past 10 years, outperforming others such as gold and stocks.
Given its impressive track record in the financial sector and the performance it is having in the market, driven by institutional investment and technological development, experts predict that the price of the cryptocurrency will continue to rise.
While the bitcoin price has corrected slightly since hitting its new all-time high (ATH), experts believe the cryptocurrency is performing excellently and is getting closer to 6 figures.
“$100k seems long overdue,” says Adam Back
Adam Back, renowned cypherpunk, cryptographer and CEO of Blockstream, noted that the price of Bitcoin will soon could reach a new ATH of $100.000 dollars per unit.
The expert believes that the cryptocurrency is already on the way to establishing a higher price, of $100.000 or more.
On his X account (formerly Twitter), Back commented that Bitcoin has had little recognition in its current bullish trajectory, which is driven mainly by the approval of spot ETFs, the great institutional appetite and the proximity of the room halving of the network. He said that for investors perhaps $100K is long overdue, but it is only a matter of time before Bitcoin settles at this target price.
A massive rally is coming for the price of Bitcoin
But Back is not the only one who believes that Bitcoin has the potential to conquer new all-time highs in the current cycle.
Other analysts also believe that the market-leading cryptocurrency will soon conquer new heights. In this regard, analysts at AllianceBernstein, a renowned global asset management firm, said in a statement note shared with CoinDesk last week that the Bitcoin's potential for appreciation could boost its price to $150.000, in the middle of next year.
AllianceBernstein analysts base their bullish Bitcoin price predictions on the impressive performance of the cryptocurrency since the approval of spot ETFs in the US market. Such has been this performance that Bitcoin has established an ATH several times so far in March, even before the arrival of the next network halving.
As reported by this outlet, this is the first time that the price of BTC has broken its previous ATH before the arrival of this important historical event. However, the firm's analysts said that they are convinced that the real bullish rally of BTC will take place after its emission is reduced with the halving. This reduction, together with the rise of spot ETFs, will push the price of Bitcoin up to $150.000, the analysts said.
Cathie Wood: Bitcoin will reach $1.000.000
Although projections from Adam Back and AllianceBernstein analysts are bullish, Cathie Wood, founder of Ark Invest, sees much greater potential and considers a price of $1 million per BTC a viable target.
Wood has high expectations about possible scenarios for the price of Bitcoin in the next decade. In a interview Recently, the investment expert maintained her projection that the price of Bitcoin, in 2030, will be above this value, according to her perspective.
Like other experts, Wood believes that the huge institutional appetite for Bitcoin and halving events, which will cut the network's block reward in half, are driving price expectations for the cryptocurrency. In April this year, the fourth halving will hit the network, which will reduce the current reward for mining Bitcoin blocks to 3,125 BTC. Then, in 2028, a new halving will take place that will put the mining reward at 1,56 BTC, making Bitcoin increasingly scarce on the market.
In addition to this, Wood and his company maintain that the different use cases of Bitcoin and its value proposition as a Decentralized, global, transparent and auditable digital asset, also reinforce bullish expectations about its price in the future.
Continue reading: US Politicians Should Learn About Cryptocurrencies, Study Suggests
IMPORTANT: The content of this article is for informational purposes only and, in no case, what is written here should be taken as investment advice or recommendations. Bit2Me News reminds you that before making any investment you should educate yourself and know where you invest your money, as well as the pros and cons of the system. We separate ourselves from the actions and consequences that ignorance may entail. If you decide to invest in this or another asset class, you are solely responsible for the consequences that your decisions and actions may have.
