Along with 2019 moving ahead, Bitcoin prices are as well reaching to greater heights. This, in turn, is creating a lot of buzz, as the crypto leaders predictions are reaching a target of a million dollars. This is all after JPMorgan’s fair value of $2,400.
John McAfee, who is a well known British-American computer programmer and businessman, was the first person to make a bold prediction that the Bitcoin price will reach $1,000,000. He made the Bitcoin prediction giving a hard date at the end of Dec 31, 2020.
People are waking up to the fact that Bitcoin will be $1,000 000. But when? "Someday". "Maybe 5 years". "WIthin a decade". I'm the only one giving you a hard date: Dec 31st, 2020.https://t.co/rst3BcypFz"will-be-1-million-someday-says-jesse-lund-vp-of-blokchain-at-ibm.html
— John McAfee (@officialmcafee) February 22, 2019
Recently, in an interview Jesse Lund, IBM Blockchain’s VP, also made a bullish prediction that he will see Bitcoin at million dollar someday. Although he has not given any hard date for this prediction but said that it may be sooner or later. Also said that things are going to change completely for global financial system when it will happen.
I see Bitcoin at a million dollar someday. I have actually blogged about this a little bit. I like that number, because if Bitcoin is at $1 million, then a Satoshi will be equal to one U.S. penny, which would mean that there is over $20 trillion of liquidity in this network and this $20 trillion of liquidity would massively change the global financial services landscape.
Elaborating further he also said that he expects Bitcoin to cross $5000 by the end of the year and probably a million dollar mark in the near future.
Additionally, Jesse also says that IBM’s cross-border payment network, Blockchain World Wire, may also support multiple cryptocurrencies.
It could be Ripple, it could be XRP even. It could be Bitcoin. But it would also probably include other instruments, like stablecoins, and even eventually soon, hopefully, central bank-issued digital currencies.
Furthermore, he also aims to support 50 countries, 30 to 40 currencies, and almost of the market to get along 30 to 40 banks. Hence, covering quite a significant portion of the world. Ultimately, IBM Blockchain’s goal is to expand their network to provide global coverage within three to five years. Wherein the users can send remittances in a consistent at a very low cost from any corner of the world.
Other Bitcoin Price Targets
Quite interestingly there are other targets given for Bitcoin price. Tim Draper predicts a target of $250,000 in the year 2022. The Winklevoss twins also have a prediction of $320,000 for the next 10-20 years. Also some of them see a target of few hundred thousand dollars in the next 5-20 years. While some see it reaching millions of dollars by the end of next year itself.