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Bitcoin may hit $50k within a year, says Erik Voorhees, Shapeshift CEO

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Erik Voorhees, CEO of Shapeshift, recently in an AMA session gave his prediction about what the future of cryptocurrency holds. The session was first-ever during the BlockDown. According to Voorhees’ prediction, the upcoming events which will see a reduction in the block rewards, will serve as an agitator and help Bitcoin reach its an all-time high.

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“Twelve months from now I think there is an 80 percent chance that Bitcoin will be over $50,000,” Voorhees said. He said that BTC has a tendency to reach the top even though predicting its future is not always possible.

After he predicted the above statement, he also added that there is a chance that he could be wrong totally and only a fool usually tries and predicts such things by adding, “What people should do more, is going back and finding those price predictions from people in the past and seeing how often they’re right, cause they will very rarely be right.”

Also read: How ripple (XRP) is overcoming its weakness and outperforming 

In consideration of the current economic chaos of the world, where the unemployment rate is increasing, oil prices are falling and investors are trying to hide in their safe haven, Bitcoin still has a positive future with the potential to reach high. On the other hand, the economic crisis may affect the crypto market in away. However, all the hustle-bustle in the economy doesn’t really seem to bother Voorhees and other famous figures in the crypto sphere who are confident about Bitcoin.

Also read: Global Economic forecast after 2020 by IMF (international monetary fund )

In Fact, Arthur Hayes, honcho of BitMEX said, “Everyone knows the shift is upon us, that is why central bankers and politicians will throw all of their tools at this problem. And I will reiterate, that is inflationary because more fiat money will chase a flat to declining supply of real goods and labour. There are only two things to own during the transition to whatever the new system is and that is gold and Bitcoin.”

He is in fact positive about the blooming of the Bitcoin market by this year. Hayes, who is the former institutional trader also said that as a direct consequence of the monetary and fiscal solutions the governments around the world are trying to implement, BTC will climb back up to the $20,000 all-time high within the present year.

Tony Vays, a former Wall Street trader and VP at JP Morgan Chase, following the same lines has suggested repeatedly that an economic crisis could display the secure investment property to the whole world. He believes that this uncertain environment is what makes BTC so resilient.

While “extreme fear” continues to take over the markets, Vays affirmed to believe in BTC more than ever stating and suggesting that it is time to take advantage of the sizable opportunities at hand.

My Say : 

For all those who are concerned about managing their economical conditions or Save money for their future needs. Bitcoin could be any way the best option. Just like gold, you can simply have your funds back anytime with the market heat. 

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Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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