There have been some wild predictions over the last several years, but there isn’t a consensus on where the price of Bitcoin is headed. One billionaire Bitcoin investor, the Winklevoss twins, has predicted that one bitcoin will be worth $1 million in 2027. He came to terms with the existence of Bitcoin during a period when Argentina’s currency was in free fall. He’s stuck to his prediction, even though he hasn’t given any details on how he came to this conclusion.
A few analysts believe the price of Bitcoin will rise dramatically in the next few years. One of these is Jeremy Liew, a partner at Lightspeed Venture Partners and the brain behind the Snapchat app. His Crypto Research Report predicts that by 2029, Bitcoin will hit $397,000, making it the world’s most valuable asset. Another bullish prediction comes from John Pfeffer, a partner at Pfeffer Capital and a bitcoin expert. He backs up his predictions with mathematics and predicts that Bitcoin will be worth $700k in 2030.
In December 2016, a coronavirus pandemic shut down the economy and sparked inflationary pressure on the U.S. dollar. This caused the price of Bitcoin to begin its upward trajectory. It ended 2017 at nearly $29,375, a price over thirty percent higher than at the beginning of the year. As a result, it was an extremely bullish year for the cryptocurrency.