Bitcoin price

Correct: Ronnie Moas – $50,000 (by 2027)

@RonnieMoas

Ronnie Moas is the founder and director of research at Standpoint Research, an equity research firm accounting for both traditional investments and new-time ones. Moas is an avid Twitter user and Wall Street analyst who has been featured on dozens of TV and radio interviews and holds an MBA in finance.

Moas projects that Bitcoin will reach a price of $50,000 by 2027. He also believes that the market cap of all cryptocurrencies will burst up to a whopping $2 trillion (from the current $150 billion) within the next 10 years. Moas has also compared the wealth proposition of cryptocurrencies to that of the dot-com boom.

Incorrect: Tom Lee – $91,000 (by 2020)

@fundstrat

Tom Lee is Co-Founder of the market strategy firm Fundstrat Global Advisors, and a well-known bitcoin bull. Lee initially set a Bitcoin price target for $11,500 for mid-2018, and then increased it to $20,000 as the cryptocurrency’s intrinsic value increased. These targets were instead achieved by the end of 2017.

He recently upped his prediction again, stating that Bitcoin’s price will reach $91,000 by March 2020, on the basis of a chart that shows Bitcoin’s (BTC) performances after past market dips. Lee and Fundstrat used an average of the percentage gained in price after each dip to arrive at the 2020 figure.

Acceptance Impacts Bitcoin Price

Just as public perception impacts price, the more people who accept Bitcoin lifts the value of the currency.

The more investors, the more likely wider acceptance

As venture capitalists bet on Bitcoin they will likely also work hard to promote and increase of Bitcoin price. They have a vested interest in Bitcoin going up in value.

But acceptance from large financial institutions and corporations also impacts the price.

Some of the world’s largest financial institutions have started adopting the same technology Bitcoin uses.

This technology, a network infrastructure called a blockchain is replacing one of the central databases of the Depository Trust and Clearing Corporation (D.T.C.C.).

This database is used by the largest banks in the world.

IBM will lead the project for the D.T.C.C. The project is expected to be fully functioning by early 2018.

Which Factors Influenced Early Bitcoin Trading?

During Bitcoin’s early days, liquidity was thin, and there were very few investors in cryptocurrency markets. This state of affairs translated to wide price swings when investors booked profits or when an adverse industry development, such as a ban on cryptocurrency exchanges, was reported. The rise and fall of cryptocurrency exchanges, which controlled considerable stashes of Bitcoin, also influenced Bitcoin’s price trajectory.

Events at Mt. Gox, one of the world’s first crypto exchanges, especially contributed to mercurial changes in Bitcoin’s price in 2014. For example, the price tumbled from $850 to $580, a decline of 32%, after the exchange claimed to have lost 850,000 bitcoins in a hack and filed for bankruptcy in February 2014. Even earlier, in December 2013, rumors of poor management and lax security practices at Mt. Gox had caused a steep drop of 29% in its price.

The other important factor affecting Bitcoin’s price in its early days was traction with mainstream online retailers: Its price crossed the $1,000 threshold in January 2014 after online retailer Overstock announced that it would begin accepting Bitcoin for purchases.

Bitcoin Lending Platforms in 2021

Outside of BlockFi, there a suite of other platforms that can be used to lend Bitcoin and earn a passive return.

  • BlockFi*
  • Nexo
  • CoinList Lend
  • Crypto.com
  • Bitfinex
  • Celsius Network
  • Poloniex
  • Binance (not supported in the United States)*

*Indicates our suggested choices on this list. The important thing to keep in mind here is that all of these providers vary in their rates, security and risk. It’s very important to ensure you do your homework prior to lending Bitcoin on any of the aforementioned platforms as there may be varying degrees of risk associated with trusting these platforms with your assets.

How Much was 1 Bitcoin Worth in 2012?

Bitcoin Price during 2012

Bitcoin had a relatively flat 2012, trading within a $0.50 range of $5.00 for the first half of the year.

It then reached its yearly peak at the end of December, hitting a high of $13.45.

In November 2012, Bitcoin underwent its first ever halving. This dropped the block reward from 50 BTC to 25 BTC.

2012 also saw the creation of the influential Bitcoin Foundation by Gavin Andresen, Jon Matonis, Patrick Murck, Charlie Shrem, and Peter Vessenes. The Foundation’s goal is to «accelerate the global growth of Bitcoin through standardization, protection, and promotion of the open source protocol».

WordPress became the first major company to begin accepting Bitcoin for payment in 2012. The online content management system provider did this in response to PayPal’s censorship.

PayPal alone blocks access from over 60 countries, and many credit card companies have similar restrictions. Some are blocked for political reasons, some because of higher fraud rates, and some for other financial reasons. Whatever the reason, we don’t think an individual blogger from Haiti, Ethiopia, or Kenya should have diminished access to the blogosphere because of payment issues they can’t control. Our goal is to enable people, not block them.”

Wordpress

Though WordPress’s move was a big one for the four year-old cryptocurrency, the company wasn’t handling Bitcoin transactions itself. Rather, it used BitPay, which was founded in 2011 and by October 2012 had grown to processing Bitcoin payments for more than 1,000 merchants.

How Much was 1 Bitcoin Worth in 2020?

Bitcoin Price Today & History Chart

Bitcoin rose strongly from $7,000 at the beginning of the year to more than $10,000 in mid-February.

$10,000 proved to be a critical level for Bitcoin throughout the year, though it would take until October for the price to leave the $10,000s once and for all.

First came the March crash. Triggered by the Covid-19 pandemic, a global liquidity event, and exchange liquidation engines run amok, Bitcoin sold off nearly 40% on March 12. It hit a low of $3,850 before doubling in price over the next six weeks.

Bitcoin then entered a months-long accumulation pattern, before charging above $10,000 in late July. It hit a high of over $12,000 before dumping back to below $10,000 in early September.

This proved to be the final fakeout, though. From September to the end of the year, the price of Bitcoin rallied 185% to close at just under $29,000. This was more than $10,000 above the previous all time high set in 2017.

From the agonizing March crash to the parabolic move into the end of the year, 2020 was a year of extreme highs and lows for Bitcoin.

This was driven in part by institutional investment. MicroStrategy’s purchase of more than $1 billion worth of Bitcoin at an average price of $15,964 over the course of 2020 made headlines. So did the Massachusetts Mutual Life Insurance Company, spending more than $100 million on Bitcoin. This was a watershed moment for the cryptocurrency, as insurance companies are known to be conservative in their investments.

2020 proved that Bitcoin can bounce back strongly from major global events. In fact, it may even be stronger as a result. Many investors are looking to Bitcoin as a safe store of value in the face of unprecedented money printing in many countries.

While it’s impossible to tell the future, one thing is for sure: 2021 is shaping up to be just as important a year in the history of Bitcoin.

How Much was 1 Bitcoin Worth in 2011?

Bitcoin Price during 2011

Bitcoin’s adoption started to pick up steam in 2011. The Electronic Frontier Foundation (EFF) accepted Bitcoins as donations for a couple of months in 2011. Due to lack of legal precedent surrounding virtual currencies this arrangement was quickly rescinded, though this was later reversed in 2013 when the EFF began accepting Bitcoin again.

On February 9th, 2011, BTC reached a value of USD$1.00 for the first time ever. A few months later, in June, the price of one Bitcoin hit $10, then $30 on Mt. Gox. This represented a 100x appreciation since the beginning of the year, when the price of Bitcoin hovered around $0.30.

By the end of the year Bitcoin was trading just under $5, but at least two important psychological barriers had been broken.

Bitcoin Price History

When bitcoin first emerged on the market, the currency had virtually no value. During this time, the currency was mainly mined and “enjoyed” by hobbyists. It was not yet seen as carrying enough value to purchase items one might otherwise acquire with traditional currency. Price indices for the digital currency did not exist at this time and bitcoin had not garnered nearly as much public interest as the cryptocurrency carries now.

The first real-world transaction involving bitcoin occurred on May 18th, 2010, when a bitcoin holder paid 10,000 BTC for two large pizzas from Papa John’s. The payment this user made would now be worth $3.7871 million US dollars. To contrast, a large pizza at Papa John’s currently costs $11.75 US dollars.

Slowly, the price of bitcoin continued to rise, becoming equal to the US dollar in Feb. 2011. In other words, bitcoin had risen from a value so minuscule that it could not actually be measured to being equal to one of the strongest currencies in the world. Shortly after that, the cryptocurrency rose to $31 USD on July 8th, 2011. After this, the currency’s bubble popped and bitcoin’s value plummeted. In Dec. 2011, the currency was valued for as little as $2 USD. This was the lowest point that the currency fell to before rising the $13 USD mark during Dec. 2012.

2013 was a landmark year for the value of bitcoin relatively to the US dollar. The currency rose to a price of $266 USD on Apr. 11th, 2013 before falling to a mark of $70 USD in June. The currency’s rise and subsequent fall demonstrates a trend for the cryptocurrency where the value rises to a new high before falling to a figure that, while disappointing when compared to the new high, remains substantially higher than the previous figures.

Bitcoin then proceeded to spike to its all-time high figure in Nov. 2013. However, the currency fell from a price of $600 USD in Dec. 2013 before returning to a figure of $1,000 USD by the end of the year. The price continued to fluctuate within that range before falling to a mark of $550 USD after the Mt. Gox incident, which damaged investor confidence in the cryptocurrency. Shortly after that, the currency fell to a mark of $350.52 USD on Apr. 11th, 2014, its lowest market since the Mt. Gox incident.

After having a relatively stable period during the summer of 2014, a time during which increased discussions involving the potential regulation of the currency had begun within traditional finance circles. The currency was valued above the $500 USD mark for most of the period of June 1st to Aug 30th. However, the currency fell to a figure of $478.07 USD on Aug. 31st, 2014. Since falling to that mark, the value of bitcoin continued to decline to below the $375 USD mark. Since then the price of Bitcoin has had huge gains reaching its peak in December 2017 at $20000 on some exhanges. In January 2018 a sharp correction ensued leaving the crypto currency hovering around $12000. As it is becoming more mainstream, more and more people and institutions are looking to buy bitcoin which may prove 2018 another exiting year for the first decentralized currency.

Keep an eye on bitcoin

The bitcoin reference rate currently has its primary use in the futures markets, but there are other applications for which it could become useful. For instance, in evaluating how efficient a particular bitcoin market is, the discrepancy between that market’s pricing and the moves in the bitcoin reference rate could serve as a measure of liquidity and volatility. That could better inform bitcoin traders how a particular market is likely to trade in response to certain conditions.

Bitcoin will likely keep seeing volatile movements in both directions for the foreseeable future, and that makes it all the more vital to have as much information as you can about the market. The bitcoin reference rate can show you overall bitcoin moves without being dependent on a specific exchange, and that’s useful information as trading picks up across all the exchanges that currently trade bitcoin.

Related:

More From The Motley Fool

Dan Caplinger has no position in any of the stocks mentioned. The Motley Fool recommends Cboe Global Markets and CME Group. The Motley Fool has a disclosure policy.

Где выгоднее покупать биткоин? ТОП-5 бирж

Для безопасной и удобной покупки криптовалют с минимальной комиссией, мы подготовили рейтинг самых надежных и популярных криптовалютных бирж, которые поддерживают ввод и вывод средств в рублях, гривнах, долларах и евро.

Надежность площадки в первую очередь определяется объемом торгов и количеством пользователей. По всем ключевым метрикам, крупнейшей криптовалютной биржей в мире является Binance. Также Binance самая популярная криптобиржа в России и на территории СНГ, поскольку имеет наибольший оборот денежных средств и поддерживает переводы в рублях с банковских карт Visa/MasterCard и платёжных систем QIWI, Advcash, Payeer.

Рейтинг криптовалютных бирж:

# Биржа: Cайт: Оценка:
1 Binance (выбор редакции) https://binance.com 9.7
2 Bybit https://bybit.com 7.5
3 OKEx https://okex.com 7.1
4 Exmo https://exmo.me 6.9
5 Huobi https://huobi.com 6.5

Критерии по которым выставляется оценка в нашем рейтинге криптобирж:

Самые последние новости криптовалютного рынка и майнинга:

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Understanding and Predicting Changes in Bitcoin Price

Bitcoin is digital currency, so it’s subject to go up or down in value just like any other currency. Read on to learn how you can predict Bitcoin price changes.

Who hasn’t heard about Bitcoin?

Early in March of 2017, the so-called «crypto-currency» was more valuable than gold in the world markets.

Except for 2014, Bitcoin has been the top-performing currency every year since 2010.

With huge value, major investors, and global economic turbulence many newcomers are wondering how they can get in on the action.

And, as some longtime Bitcoin users watch they wonder exactly what market trends and global activities could impact Bitcoin price.

Whether you’re just getting started or have a fat Bitcoin wallet you’re hoping will increase in value, we’ve put together a list of items to help you understand and predict Bitcoin price.

Ready to make a bundle in the hottest currency in the world? We’ll tell you what to watch out for.

Master this list and you might just get rich.

Let’s go:

Conclusion: BTC Price Forecast and Long-Term Price Predictions

Considering all of the massive price projections and forecasts from industry experts that suggest Bitcoin will someday replace all currencies across the globe, it’s easy to see what so many are bullish on Bitcoin, and why Bitcoin price predictions can reach such high numbers, ranging from thousands to even over $1 million dollars per BTC.

The revolutionary technology has sparked an entire industry aimed at disrupting traditional finance, and cryptocurrencies are already well on their way to widespread adoption and regular use by the mainstream public.

Bitcoin is accepted most places these days, and can even be purchased at grocery stores through Coinstar machines. It is now offered through PayPal, Venmo, and the likes of VISA are now supporting it. Institutions and corporations are now investing in BTC.

However, given the price predictions in this article, it’s never too late to invest in or trade Bitcoin and take advantage of its volatility.

The below prediction chart outlines some of the minimum and maximum BTC price forecasts offered by technical analysts and industry experts in an easy to digest format.

Year High Low
2021 $140,000 $17,000
2022 $140,000 $42,000
2023 $100,000 $63,000
2024-2025+ $500,000 $275,000

Give the lows and highs in recent years, as well as the lows and highs predicted by industry analysts and experts, it’s easy to see how opening a short or long position using 100x leverage to trade Bitcoin’s volatile price swings can be extremely profitable, and even more profitable than investing itself.

Traders can take advantage of such tools provided by trading platforms like PrimeXBT, and open positions with up to 100x leverage on the BTC/USD pair. BTC is also paired with other altcoins such as Ethereum, Litecoin, Ripple, and EOS. PrimeXBT also offers traditional assets such as the most popular forex currencies, commodities, stock indices, and spot contracts for gold and silver.

With Bitcoin about to take off on yet another bull run, the opportunity to profit has never been greater. And with Bitcoin price expected to reach $100,000 to as much as $1 million per BTC, it’s never too late to get started trading Bitcoin.

The information provided does not constitute, in any way, a solicitation or inducement to buy or sell cryptocurrencies, derivatives, foreign exchange products, CFDs, securities and similar products. Comments and analysis reflect the views of different external and internal analysts at any given time and are subject to change at any time. Moreover, they can not constitute a commitment or guarantee on the part of PrimeXBT. The recipient acknowledges and agrees that by their very nature any investment in a financial instrument is of a random nature and therefore any such investment constitutes a risky investment for which the recipient is solely responsible. It is specified that the past performance of a financial product does not prejudge in any way their future performance. The foreign exchange market and derivatives such as CFDs (Contracts for Difference), Non-Deliverable Bitcoin Settled Products and Short-Term Bitcoin Settled Contracts involve a high degree of risk. They require a good level of financial knowledge and experience. PrimeXBT recommends the consultation of a financial professional who would have a perfect knowledge of the financial and patrimonial situation of the recipient of this message and would be able to verify that the financial products mentioned are adapted to the said situation and the financial objectives pursued.

Retrospective: Past Bitcoin Historical Price Predictions That Got It Right

BTC price forecasts aren’t easy to make, but several of leading industry experts have managed to make correct calls over the years.

Daniel Masters, Analyst at Global Advisors

Daniel Masters made a call for Bitcoin price to break out in 2017 and reach a high of $4,400. Bitcoin did indeed reach that price in 2017, but smashed right through it and kept on going to $20,000.

Vinny Lingham, South African Internet Entrepreneur and CEO of Civic

Back in 2016, Vinny Lingham made a bold call that Bitcoin would reach between $2,000 and $3,000 in 2017, a more conservative call than Masters. Just like Masters, the call was trounced by Bitcoin’s explosive rally.

Peter Brandt, Legendary Commodities Trader 

In one of the rare negative price predictions that came true, Peter Brandt called for Bitcoin to drop over 80% following a break of its parabolic advanced in early 2018. By the end of the year, that target was met and Bitcoin fell to $3,200.

Tim Draper, Billionaire Venture Capitalist

Tim Draper has a knack for spotting the next big thing, and he’s heavily invested in crypto. The billionaire venture capitalist called for Bitcoin to reach $10,000 by 2018 all the way back in 2014. The visionary was right once again, and the year prior the asset doubled that projection.

Bloomberg Research 2020 Bitcoin Report

Bloomberg Research recently released a new report on the future of Bitcoin as an investment. The major media hub and finance terminal says that Bitcoin should reach $12,000 and $20,000 by the end of 2020. Both predictions were accurate.

Major Investors

Just as average users become comfortable trading Bitcoin through the many tools available can cause prices to increase, so can the involvement of major investors.

And many large companies, venture capitalists, and financial institutions are investing large amounts of money in Bitcoin and Bitcoin technology.

Due to the international expansion possibilities, and fraud protection, both the currency and the technology behind it is deemed as highly valuable by major investors.

Over $1 billion dollars have been invested in Bitcoin.

Major investors include:

  • American Express
  • Bain Capital
  • Deloitte
  • Goldman Sachs
  • MasterCard
  • The New York Life Insurance Company
  • The New York Stock Exchange

As more large companies, financial institutions and venture capitalists invest, the value of Bitcoin, or Bitcoin technology, will likely rise.

Why Businesses Should Go “Bitcoin-only”

While fans of alter­na­tive cryptocur­ren­cies might complain that their favorite token is being excluded for ideolog­ical reasons, the reality is: going “Bitcoin only” is a logical business decision. 

The benefits of focusing on bitcoin: 

  • Lower FeesBy focusing on a single asset, compa­nies can maintain lower support costs which leads to better service with lower fees for users. 
  • Bitcoin has the majority of the volumeAs a business, it makes sense to focus on the asset (Bitcoin) that attracts high volume. 
  • Increased focusIf you want to be the best website to invest bitcoin, the only way is to focus on Bitcoin alone. Going Bitcoin-only means your company will have no distractions/temptations from penny stock altcoins. Altcoins are oppor­tu­nity costs. 
  • Domain Exper­tise By focusing on a single asset, your team will become experts in that asset. Eventu­ally, your exper­tise will enable you to out-compete compa­nies who took a less focused approach. This compounds over time and leads to better products/services which attract long term customers. If you focus on altcoins, the tradeoff is you won’t be able to support Bitcoin as well. 
  • Long term successA business built on trading altcoins might be lucra­tive for a short period of time. These altcoin onramps popup in bull markets, rise to fame, and quickly crash in just a few years. On the other hand, Bitcoin-only onramps are more robust and will outlive all the altcoin exchanges (read: altcoin casinos).
  • More SecureOnramps that focus exclu­sively on Bitcoin allow for increased security. Every time you offer another asset, your engineers are forced to develop increas­ingly complex security methods. On the other hand, focusing on Bitcoin exclu­sively allows engineers to take advan­tage of Bitcoin’s native features, such as multi-sig which results in more secure infrastructure. 
  • Less Regula­tory BurdenBitcoin-only onramps come with fewer regula­tory risks as Bitcoin has been given a pass by most regula­tors globally. Kraken publishes an annual report listing all the requests they receive from regula­tory bodies around the world. Compli­ance is extremely expen­sive, especially if you offer a bunch of altcoins. 
  • Aligned Incen­tivesCompa­nies that focus exclu­sively on Bitcoin share aligned incen­tives with Bitcoiners. Both parties want Bitcoin to remain secure and increase in value over the long term.
  • Shared Infra­struc­tureAs more compa­nies focus on Bitcoin’s native function­ality (multi-sig, partial signed Bitcoin trans­ac­tions, etc), we’ll see more open source standards emerge. For example, Unchained Capital open sourced a multisig protocol called that anyone can leverage. 

Learn more about the benefits of BTC invest­ment sites staying Bitcoin-only:

  • Aleks Svetski explains why Amber is a Bitcoin-only Business.
  • Francis Pouliot explains why Bitcoin-only makes business sense on the Tales From The Crypt podcast, episode #84 (starting at the ~23:00 mark). 

Learn how to delete your Coinbase account—the most notorious company promoting altcoins.

What purpose the bitcoin reference rate serves

The CME needed to come up with a transparent and readily available way to determine the price of bitcoin for its futures contract customers. Yet the problem it faced was that there are numerous exchanges on which one can buy and sell bitcoin, and the prices of bitcoin can differ greatly from exchange to exchange. These disparities persist in part because moving bitcoin from exchange to exchange isn’t as simple as moving cash from one bank account to another, and in part because the decentralized nature of bitcoin makes the reputation of each exchange extremely important in determining the value of what’s bought and sold there.

In particular, futures contracts need a daily settlement price for traders to even up their accounts. The CME wanted to use reputable pricing information to come up with its once-daily reference rate. That’s where the concept of the bitcoin reference rate came from.

Story continues