Various bitcoin bulls have doubled down on their price predictions.
Most of the hyperbullish predictions of $25,000 to 100,000 prices for Bitcoin by the end of 2018 are based upon institutions moving in and the SEC approving ETFs for trading. So far there have been two rejected Bitcoin ETF applications by the SEC.
There is also the estimate of the increasing costs for mining Bitcoin to put a floor of $14,000 to $64,000 for Bitcoin in 2019. The prices for Bitcoin have historically tracked the costs to mine new Bitcoin.
Oops! I predicted $250k in 2022. My tweet last night was missing a zero. $250k is the number!
— Tim Draper (@TimDraper) April 13, 2018
I don’t see $btc dominance pulling back any time soon. Lots of cool institutional projects coming and most will start with bitcoin. Stay long.
— Michael Novogratz (@novogratz) July 31, 2018
Northern Trust looks to join the burgeoning crypto custody business https://t.co/uUDvA3GNi7 pic.twitter.com/YZEI00Uqtg
— Bloomberg Markets (@markets) July 31, 2018
When I predicted Bitcoin at $500,000 by the end of 2020, it used a model that predicted $5,000 at the end of 2017. BTC has accelerated much faster than my model assumptions. I now predict Bircoin at $1 million by the end of 2020. I will still eat my dick if wrong. pic.twitter.com/WVx3E71nyD
— John McAfee (@officialmcafee) November 29, 2017
Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. His blog Nextbigfuture.com is ranked #1 Science News Blog. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology.
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What we all greatly underestimated were the numbers of senior government officials around the globe that were laundering money into offshore accounts. We believed that governments would shut down Bitcoin because it was untraceable and untaxable. But, that is exactly why it has not be shut down. Government officials worldwide are using it for their own gains. (The Panama bank leaks are evidence that supports my claim.)
And, do you think Obama would send pallets of cash to Iran today? No. He would just send Bitcoin. Because it is also the perfect vehicle for untraceable black payments that governments do not want to ever come to light.