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Bear’s case for Bitcoin includes cryptocurrency, which fails to cope with expectations and become irrelevant.
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The continuation of the latest trends, mainly more habitat, which leads to bitcoin from different market participants, supports the main case.
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If the bitcoin becomes more fortified in people’s daily financial life, its price can be good in millions.
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With an persistent 10-year return of 40,000% (as of July 25), Bitcoin (Crypto: BTC) was the creator of monstrous wealth. If you invested $ 10,000 in this top digital asset at the end of July 2015, you would look at a $ 4 million balance today in your portfolio. This is an incredible profit.
Bitcoin is not far from its peak, with cryptocurrency trade over $ 117,000. If you are investing $ 10,000 in Bitcoin today, how much will it cost in 2035? There are three possible answers.
The case of the bear, which I think is unlikely, will require the progress we have seen to turn the course. This pessimistic result will include governments that prohibit it, especially the US, which seems like an event with a low probability, given how much the White House has covered bitcoins.
But Bitcoin can be a victim of progress in quantum calculations that could break the cryptography of the public key of cryptocurrency. This can expose the network of hackers who want to steal Private keys and take the cryptocurrency of investorsS
There may also be competition from other cryptocurrencies that appear. Or maybe Bitcoin simply does not acquire a broader adoption, so much hope that it would lead to that it would be irrelevant.
If these things are played, I would not be surprised if Bitcoin’s price drops below $ 100,000 in 2035.
It’s time to be more optimistic. In the next decade, Bitcoin will become more popular with market participants, namely individual and institutional investors, corporations and governments. This would simply be a continuation of the trends that are already happening, supported by a more favorable regulatory background.
Perhaps Bitcoin also made progress as a broader used exchange carrier, something critics claim would not happen. Further development of the Layer-2 scaling solution, known as Lightning Network, can help in this regard by speeding up network transactions and reducing consumer costs.
The base case has the price of Bitcoin, reaching between $ 600,000 and $ 1.2 million in 10 years, or five to 10 times higher than today. This is a realistic result.
Many variables must be in favor of Bitcoin for the bull case in order to become a reality. One of the options is that Central banks Start owning Bitcoin as a backup asset. Currently, no central bank does this. But this could introduce a huge demand for bitcoin by pushing the price to unprecedented levels.