Zero to USD 91,000 : Latest Bitcoin Price Forecasts

It has been a tough start to the year for cryptocurrency investors. The price of bitcoin is down by over 50% year-to-date, lawmakers are mulling over potentially restrictive global cryptocurrency regulations, and digital asset exchanges are finding themselves under increased scrutiny.

In this article, we will explore and compare recent bitcoin price forecasts that were made by leading analysts and investors to get a better idea of what Wall Street is thinking about where the crypto asset market will go next

“A bitcoin is a claim on nobody – in contrast to, for instance, sovereign bonds, equities or paper money – and it does not generate any income stream.”

Some experts believe that the crypto bubble has popped while others believe that this is just a short correction before the rally continues to new highs.
Hofrichter considers bitcoin as “a textbook case of a financial market bubble” that will likely still continue for a while but will eventually pop. He cites factors such as overtrading, easy monetary conditions, lack of regulation, increasing leverage, swindles, and overvaluation as key reasons why bitcoin is a bubble.

"The cryptocurrencies may simply be a mechanism for a transfer of wealth from the late-comers to the early entrants and nimble traders".

“Bitcoin is the pin that's going to pop the bubble. The bubble is the insane bond markets and the fake equity markets that are propped up by the central banks. Those are the bubbles.”

A common theme among bitcoin “bears” is that they compare the decentralized digital currencies to existing asset classes and use traditional valuation models to evaluate the cryptocurrency market. However, to truly evaluate bitcoin, you need to look beyond established financial markets and understand that cryptocurrencies are an entirely new breed.

To evaluate cryptocurrencies new factors must be considered that economist and equity analysts not look at in the traditional financial markets. These include the number of active nodes, the daily number of transactions, the level of decentralization, adoption rates as well as the network effect, to name a few.