There are a lot of bitcoin prediction articles published on the internet. Still, it is tough to predict it because bitcoin can not be controlled by any third party or person who can increase, decrease, or maintain its value. The price or value of bitcoin depends upon many factors that drop the weight and pump the importance of this digital coin. For example, in November 2021, when the price of bitcoin touched 60,000 dollars, many articles and experts said that the cost of bitcoin would hit $1,00,000 but what happened was quite the opposite. The value of one bitcoin was 39,111 dollars, which means it decreased by 20,000 dollars. Many experts say that bitcoin can hit more than $2,00,000 in 2022, but there is no 100% surety about it; in this article, we will talk about the possibilities of whether it can cross the mentioned value or not. If you are interested in bitcoin trading, visit the (Profit Edge) to acquire an utter guide to crypto trading.
Are people not selling bitcoin?
The strongest possibility of increasing the price is people are not selling bitcoins. There are a lot of bitcoin users who use bitcoin for different purposes such as some use it to earn huge profit by holding it for more than five or ten years, and some use it for short term profit (trading), some help for accepting and sending payments and many more. This digital coin fluctuates every second, so there are minor changes in the short term, but there is a vast difference in prices over a long time.
The long-term investors know the potential of bitcoin, and they are not selling. But, unfortunately, it means after some years, the cost of this gold coin will be 10X to its current price.
The value of the bitcoin cryptocurrency depends upon the demand and supply. There are a lot of long-term bitcoin investors who have held bitcoin for years and are not selling. If there is less supply and demand is high, the price of bitcoin will go up. So the current Bitcoin holder is not selling the bitcoin, and there are high chances that bitcoin will cross $1,00,000. If you decide to buy bitcoin, we recommend you do your research.
Prediction by experts:
Some expert analysts’ predictions were published on an insider website a few months ago. The banking analyst, Sachs, predicted that the value of bitcoin would cross 1,00,000 dollars in 2022, and JP Morgan had forecast the value of bitcoin in November 2021 when the price of bitcoin broke the record of 60,000 dollars would hit 1,48,000 dollars. Still, the prediction went wrong; instead, the price went down up to 30,000 dollars. On the other hand, Cathie Wood predicted that the value of this gold coin could cross the 1,00,000 dollars since the settlement volume of this coin crossed the MasterCard, and she announced numerous times. She also said that the value of this gold coin would touch 5,00,000 dollars by 2026 and 1,000,000 dollars by 2030 because of the upgradation in the blockchain system by adding a new payment method and security improvements.
Significant reasons for increasing the price:
Two significant reasons will help achieve the target value to bitcoin said in a recent interview on CNBC crypto word by Cofounder of Fundstrat global advisor. The first reason is when the current bitcoin investors allocate the bitcoin in the market, and the second reason is when most countries legitimate this digital cryptocurrency.
People above age 65 in the United States own 100,000,000,000,000 (100 trillion) dollars, and they think about bitcoin just as a hobby and playing, but they are not serious about it. If these people allocate only two per cent, that means two percent of one hundred trillion, then the cryptocurrency or bitcoin will rise by 10X to 15X in value. So there is no need for new investors, but the existing investors can influence a big part of cryptocurrency by allocating some percentage of their wealth.
Conclusion:
So it is tough to say whether bitcoin will cross 2,00,000 dollars or not since it is a non-controllable coin. It is just a prediction, but it may be correct with proper research and data. The current price of bitcoin is 39,111 dollars while writing this article. That is significantly less; if you are buying bitcoin, you must do proper research by reading many articles or blogs.
