Is Bitcoin (BTC) Expected to Reach $500k or More in the Next 5 Years?
Will Bitcoin reach $500k or more in the next 5 years? For instance, can we expect BTC to reach $500k by 2026?
The general feeling within the crypto circles is that Bitcoin will continue rising and will be worth more than $100k in the next few years. In fact, most crypto analysts and price prediction websites had intimated that it would reach $100k before the end of this year and only started adjusting their predictions after the mid-May price crash. Today, most of them are confident that Bitcoin will cross the $500K mark by 2026.
Some, like the Billionaire investor and crypto enthusiast Tim Draper, are confident that Bitcoin will hit this target price sooner. He states, in his prediction, that Bitcoin could be worth more than $250,000 by the end of 2022, which means that he believes BTC will hit the $100k price target early next year.
In this Bitcoin investing guide, we will be answering the question of whether Bitcoin can reach $500k in the next five years. We will go over Bitcoin price predictions from the most reputable crypto experts and tell you how high up they think Bitcoin prices will reach in the next five years. We will then conclude by telling you if the coin is worth buying today.
Whether Bitcoin will reach $500K in the next five years is questionable and depends on several factors. According to an btc_Cro survey, 71.4% of BTC investors believe that Bitcoin may reach the value of $500,000 in the next five years.
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We start by looking at its current price and how it got here.
A Sneak Peek into Bitcoin (BTC)
The largest cryptocurrency has made significant gains in the last 30 days, seeing that it one point had its prices fall below $29,000. Despite the gains, however, it still is trading more than 24% below its all-time high price of $64, 863 hit on 14th April 2021 - according to the CoinMarketCap.
Bitcoin, nevertheless, remains the largest crypto project with a market capitalization of $922 Billion and a circulating supply of 18.79 million BTC coins. The enormous market cap makes it more valuable than such popular brands as Elon Musk’s Tesla, Warren Buffet’s Berkshire Hathaway.
It was the first cryptocurrency established in 2009 and was pretty valueless at the time. A decade, three halving events, three major price rallies, and a few upgrades later, Bitcoin now is the most popular and most valuable digital currency. Its blockchain also scores highly among the most disruptive technologies of the past decade.
But how will this history influence its future price action, and can it help Bitcoins get to $100k in the next few years?
So, Will Bitcoin (BTC) Reach $100k?
From crypto analysts to current Bitcoin investors and even price prediction websites, the general feeling is that Bitcoin will eventually reach $100K. And though they can’t agree on when it will get here, most are optimistic that it will hit this milestone within the next three years.
Bloomberg analysts, for instance, stated in their June 2021 Crypto Outlook report that Bitcoin prices have a high chance of getting to $100,000 than of falling to $20,000. The note argues that the coin is likely to experience a wild price rally that pushes its price towards $100k even before year-end.
Leigh Cuen, a crypto news reporter at Inverse, is also confident that Bitcoin will reach $100k soon, arguing that the force and financial might of current Bitcoin investors are too powerful to thrust the lead crypto anywhere below this price level. Falling short of describing Bitcoin as too big a project to fail, Leigh argues that Bitcoin did not weather past threats and attract millions of users in the last decade, only for the decade-long bull run to suddenly die now.
Others who believe that Bitcoin will eventually reach $100K include Kay Van Petersen, an analyst at Saxo Bank, who believes the coin will reach this price level by 2027. The founder of Morgan Creek Digital - Anthony Pompiliano - also predicts the lead digital currency could reach $250k by the end of 2022, while Thomas Fitzpatrick - the marketing head for Citi Banks CitiFX Technicals - who places Bitcoin’s price by the end of 2022 at $318k.
Interestingly, even the long-term trader sentiments for Bitcoin are hugely bullish, suggesting a potential extended bull run for the crypto coin.
Can it reach $500K, though?
Will Bitcoin (BTC) Reach $500K?
Yes, the chances are high that Bitcoin price will eventually break above $500k in the next few years. It only needs to grow its current value by about 10 times, and the crypto community is confident it has what it takes to do it.
Cathie Wood, the CEO of Ark Investment Management, leads the park of business leaders and crypto market analysts who believe that Bitcoin is destined for a price above $500. She recently affirmed her early prediction that Bitcoin prices will eventually go beyond $500k, arguing that the coin currently is at a capitulation stage, which means that this could be the best time to buy.
Her optimism about a bullish future of the Bitcoin prices is shared by the Winklevoss twins and Gemini Exchange founders, Tyler and Cameron, who predict that Bitcoin could be worth $500k by the turn of the decade. They believe that Bitcoin will replace gold as the global store of value and give it a market capitalization above $9 Trillion by 2030, which effectively places its per coin price above half a million USD.
Other reputable investors who believe that Bitcoin prices will ultimately soar above $500K include Jeremy Liew of Lightspeed Venture Partners and Peter Smith, a co-founder and CEO of the all-popular ‘Blockchain’ Bitcoin wallet.
What Will Bitcoin (BTC) be Worth in 2026?
The truth is, no one can predict with utmost accuracy what the price of Bitcoin, or any other financial investment product, will be worth at a specific point in the future. Therefore, there is no correct or wrong prediction of Bitcoin’s future prices. The much that crypto experts and price prediction websites can do is use the coin’s past performance and assess the impact that future events in and outside the crypto industry have on its price action and direction.
That said, a lot of crypto experts, finance industry leaders, and Bitcoin investors have used these factors and come up with estimates of what they believe Bitcoin could be worth in the next 5 years.
In a recent interview with CNBC, Mark Yusko, the CIO at Morgan Creek Capital Management, predicted that Bitcoin price could reach $250,000 by 2026. He said that its market cap would reach above $4 Trillion and that its network would grow exponentially, effectively turning Bitcoin into the “base layer protocol for the internet of value.”
CoinDesk Learn Editor, Ollie Leech, is even more optimistic and believes that Bitcoin will reach $1 Million in the next five years. Like all other Bitcoin halving events to date, he expects 2024 halving to ignite a massive price explosion that helps Bitcoin cross the $1 Million price mark at some point in 2025.
His sentiments are shared by a former Goldman Sachs hedge-fund manager and Real Vision founder, Raoul Pal, who is also confident that Bitcoin will reach $1 Million in the next five years. Much of this value gain, he believes, will be driven by the amount of money that corporates are about to send to the crypto world when they realize that recovery from covid-19 will take longer than anticipated.
Check Out: Bitcoin Price Prediction for 2025 and 2030
Conclusion: Will Bitcoin Reach $100k?
The general feeling within the crypto community is that Bitcoin price will continue rising in the foreseeable future and that it will break above $100k in the next few years. Some crypto experts are even confident that it could easily rise as high as $500k or even $1 Million within the next five years.
And they all have been advising against selling BTC now and instead encourage that investors start stacking up BTC in readiness for the near-imminent price blow up.
Among the factors that they believe will help Bitcoin price rebound and maintain an uptrend moving forward is the upcoming Taproot upgrade, the halving even due in 2024, further adoption by the corporate world, and pouring in of funds by institutional investors.
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