Bitcoin

Prediction: Bitcoin will reach $150,000 in 2030

Published

8 months ago

26 May, 2024

Prediction: Bitcoin will reach $150,000 in 2030

This important digital asset could be a big winner in the coming years.

Bitcoin (Bitcoin 0.01%) has performed fantastically over the last year and a half – it is now up 299% since the start of 2023. This growth has slowed a bit as the crypto price has dropped 6% from its total value. – maximum reached in March. The current price is approximately $69,400.

For those wondering if now is still a good time to buy the world’s most valuable cryptocurrency, I think Bitcoin will reach $150,000 by 2030, providing an annualized return of 14%.

Diminishing returns

It is important to recognize that Bitcoin’s future returns will likely be much lower than its monumental rise to its current level. This asset is no longer going unnoticed. Therefore, Bitcoin’s appreciation will likely slow down in the coming years.

But some prominent figures in the world of business and investment remain much more optimistic than I am. Cathie Wood and her team at Ark Invest think the price of Bitcoin could reach US$3.8 million by 2030. And Jack Dorsey, co-founder and CEO of Blockbelieves that Bitcoin will reach US$1 million until 2030.

In this context, my prediction of $150,000 by the end of the decade is a more moderate outlook, but it would be a gain that exceeds the S&P 500average return. Historically, this broad index of 500 of the largest and most profitable U.S. companies has produced annualized total returns of about 10%.

Growing demand

In my opinion, the key factor that will drive the price of Bitcoin is the simple fact that more market participants own it – individual and institutional investors, as well as companies and governments. Increased demand should, in theory, increase the price of Bitcoin in the long term.

But why would these market participants want to buy and hold Bitcoin?

Bitcoin’s fixed supply limit is probably the most important variable that makes it an attractive asset to own. Only 21 million coins will be created, and they are being minted at a pre-determined and ever-decreasing rate – strict limits that are built into Bitcoin’s software.

This is the completely opposite situation with traditional currency and tax systems. For example, let’s look at the worrying deficit the US government is running, leading to a growing federal debt burden. And we cannot forget the constant increase in the supply of US dollars, which causes the purchasing power of the dollar to decrease over time.

Bitcoin’s growth case largely depends on people gaining greater familiarity with it. This could take many years. But as we have seen, with a greater number of traditional financial firms painting Bitcoin in a positive light, there should be more buying interest.

Mental preparation

My optimistic postulation that Bitcoin will reach $150,000 per coin by the end of the decade is far from a certainty. There is a lot of uncertainty, as is often the case with newer technologies.

For investors, the best way to approach this asset is to properly size your position in it. Don’t invest more money in Bitcoin than you are willing to lose. This could result in a person allocating you a relatively small portion of a well-diversified portfolio – perhaps 1%.

From a mental and emotional perspective, be prepared for this participation to experience a lot of volatility. In its brief history, Bitcoin has experienced multiple drops of more than 50%. Although its value may stabilize over time, such declines are still something an investor needs to be prepared for.

If you intend to buy Bitcoin, keep a long-term perspective. The main cryptocurrency is expected to continue to be a winner in the coming years, heading towards US$150,000.

Neil Patel and its clients do not have a position in any of the stocks mentioned. The Motley Fool has positions and recommends Bitcoin and Block. The motley fool has a disclosure policy.

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Bitcoin

What to watch for in the markets

Published

6 months ago

21 July, 2024

SatoshiTimes Staff

Photo: Andrew Harnik (Getty Images)

After witnessing one of the largest global IT outages on record, affecting the travel, finance and healthcare sectors worldwideThis week is set to see more political drama, events, and earnings reports from tech giants.

Donald Trump’s ‘Lovefest’ Sets Jamie Dimon Up for Consideration for Treasury Secretary Job

Let’s take a look at what awaits us:

Major companies will release their earnings reports

Major tech companies and others will release their earnings reports this week, paving the way for what the second half of 2024 will look like.

Monday

Verizon will report earnings before the start of operations.

Tuesday

Coca-Cola, Comcast and UPS are all set to report earnings before the market opens.
Tesla will report earnings in the morning, while General Motors will report earnings in the evening.
Alphabet and Visa will report results after the market closes.

Wednesday

AT&T will release its report before the market opens.
Ford and Chipotle will report earnings after the market closes.

Thursday

Earnings reports from AstraZeneca, American Airlines and Southwest Airlines will be released before the market opens.

Trump to speak at Bitcoin conference

Presumptive Republican presidential nominee Donald Trump will speak at the next Bitcoin Conference in Nashville, Tennesseewhich is scheduled for July 25-27. While this is the first time a presidential candidate will attend the conference, it has sparked a debate over whether the crypto-friendly Trump will receive support from the crypto community in the upcoming election.

In addition to Trump, independent presidential candidate Robert F. Kennedy Jr. will also discuss crypto during the conference. Crypto advocates such as ARK Investment’s Cathie Wood, MicroStrategy’s Michael Saylor, and whistleblower Edward Snowden are among some prominent names who will be participating in the conference.

Ether ETFs are on the way

New Ether Spot ETFs are set to begin trading on Tuesday, July 23. Much like the spot Bitcoin ETFs, these ETFs will allow investors to buy the second most popular cryptocurrency like stocks. BlackRock, Ark Invest/21Shares, VanEck, Grayscale, Fidelity, Bitwise, Franklin Templeton, and Invesco/Galaxy Digital are all set to offer Ether ETFs. Crypto asset manager Bitwise predict that trading in the Ether ETF will drive the price of Ether higher, potentially surpassing $5,000.

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Bitcoin

Cryptocurrency’s Biggest Winners and Losers in a Second Trump Presidency

Published

6 months ago

21 July, 2024

SatoshiTimes Staff

Cryptocurrency’s Biggest Winners and Losers in a Second Trump Presidency

Bitcoin miners and cryptocurrency companies that have been blocked from going public in the U.S. could ultimately be the biggest winners in the digital asset world under a second Donald Trump presidency. Foreign companies at risk of losing market share could end up being the biggest losers.

That’s the view that’s taking hold among market participants and observers in the wake of the former president’s growing embrace of cryptocurrency as his chances of election grow. survey released Thursday by CBS News showed Trump with the majority — 52 percent — of likely voters in his likely November rematch with President Joe Biden.

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Bitcoin

Bitcoin, Ethereum, Solana and Cryptocurrency Markets Look Ready to ‘Send’ as Stars Align, According to Investor Chris Burniske

Published

6 months ago

21 July, 2024

SatoshiTimes Staff

Bitcoin, Ethereum, Solana and Cryptocurrency Markets Look Ready to ‘Send’ as Stars Align, According to Investor Chris Burniske

Cryptocurrency investor Chris Burniske says Bitcoin (BTC), Ethereum (ETH), Solana (SUN) and the cryptocurrency market in general seem poised for a run.

Former Head of Cryptocurrency at ARK Invest account his 292,200 followers on social media platform X that several catalysts are aligning, suggesting that digital asset markets are on the verge of a bull run.

According to Burniske, a partner at venture capital firm Placeholder, the highly anticipated launch of Ethereum-based exchange-traded funds (ETFs), Republican presidential candidate Donald Trump speaking at an upcoming Bitcoin event, and the current state of the BTC, ETH, and SOL charts all suggest significant optimism for the cryptocurrency markets.

“With ETH ETFs set to go live, Trump speaking at The Bitcoin Conference, and BTC, ETH, and SOL charts looking [they do] (while stocks are weak), it’s hard to imagine a world where we don’t ship next week.”

Reuters recently reported that preliminary approval for ETH ETFs has been granted as the Bitcoin Conference is scheduled to take place from July 25-27.

BTC, ETH, and SOL are trading at $67,333, $3,528, and $174 at the time of writing, respectively.

The venture capitalist too provides an update on his prediction that the total crypto market cap will eventually hit $10 trillion. According to his chart, the path to $10 trillion is currently “23%” complete, as it sits around $2.2 trillion.

Source: Chris BurniskeX

Earlier this month, Burniske he said in an interview with Real Vision CEO Raoul Paul that he has his eye on the Move ecosystem, which was originally built by social media giant Meta and then used to develop layer 1 blockchains Sui (IUE) and Apts (APT).

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Bitcoin

Here’s the next target for BTC before bulls can hold out for $70K

Published

6 months ago

21 July, 2024

SatoshiTimes Staff

Here’s the next target for BTC before bulls can hold out for $70K

Bitcoin’s recovery is going well, and the market is seemingly poised to create a new all-time high in the near term.

Technical analysis

Per NegotiationRage

The daily chart

As the daily chart shows, the price of Bitcoin has been rising since it broke above the 200-day moving average.

The market has also reclaimed the $60K and $65K levels and is moving towards the $68K resistance zone, which could be the last hurdle before creating a new all-time high. With the RSI also indicating that the price has clear bullish momentum, it could be just a matter of time.

Source: TradingView

The 4-hour chart

Looking at the 4-hour chart, it is evident that the price has been rising rapidly since breaking the downtrend line to the upside. The market also broke the $65K resistance level with momentum, turning it into a support.

While almost everything points to a new record high in the coming weeks, there is one worrying sign. The RSI is showing a clear bearish divergence between recent price highs, which could indicate a correction or even a reversal in the near term.

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