Bitcoin Forecast: Most Experts Anticipate Rise Again – Traders Magazine
While some experts still see the bitcoin landing at $0 somewhere in 2020, others are convinced that $200,000 USD per BITCOIN is not that far-fetched – an infographic by Kryptoszene.de shows the assessment by different analysts and financial experts and current BTC trends.
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37 percent of financial experts believe that in 2024 the price for bitcoin will range between $10,000 and $24,999 USD. In total, 4 percent are convinced that the price for one bitcoin would reach $100,000 USD. This estimation is based on the “Bitwise“ study published in January 2020.
However, Kryptoszene.de analyzed some of the Bitcoin forecasts made in the past. A lot of them – as of today – aren’t even close to being met. In December 2018, Calvin Ayre insisted that the value of a bitcoin in 2020 would drop to $0.
Bitcoin Forecasts Based on Mathematical Models
The analysts at Bayern LB have recently published their assessment of bitcoin price developments in the “Megatrend – Digitalization”. Based on the stock-to-flow model, it is not unrealistic to expect the bitcoin price to strike through the roof in 2020 – possibly even up to $90,000.
Meanwhile, the Kryptoszene infographic shows that private investors are far from being as optimistic as most Bitcoin forecasts. The “Fear & Greed” index is currently 48. 0 stands for the investors being very unoptimistic about the Bitcoin price rising, 100, in turn, means that the hopes are up. However, it is also apparent that the fear of a price drop was much more pronounced a month ago. Here the value was at 25.
BTC – Optimistic Forecasts, Uncertain Outcomes
Overall, the results show that many cryptocurrency investors are pretty optimistic about this. More than half of the experts seem to assume that the BTC price will rise by 2024. However, as the data shows, misjudgment in forecasts remains a strong possibility.