Bitcoin $200,000, or a 'Crypto Winter'? Several Experts Weigh In
Predicting markets can be a fool's game. But some experts say they can make general, broad predictions based on valuations, investor behavior and cyclical market patterns.
We caught up with five industry participants with a good pulse on cryptocurrency markets: Jim Blasko, founder of Bitcoin Talk Radio; Marshall Long, co-founder of eBoost, which integrates cryptocurrencies into gaming communities; Michal K Jeoung, CEO of cryptocurrency asset management platform, TrustVerse; Max Tsaryk, CEO at Blockchain-based content sharing platform ASQ Protocol and Nate Whitehill, co-founder and CEO at cryptocurrency news site, Cryptoslate. Here is their take. Jim Blasko bullishly predicts that Bitcoin will top out anywhere between $100,000 and $200,000 in late 2020 or early 2021 (It's currently trading around $6,500).His prediction timeline follows a pattern of the technology's mining "reward" changing from 12.5 Bitcoins per block mined down to 6.25 Bitcoins -- as well as price increases of five times and then nearly ten times Bitcoin's previous high. The reward being cut in half should increase the price of BTC, Blasko reasons, as each "halving" creates the "fear of missing out" spark that ignites parabolic Bitcoin price increases. Halving, in other words, is a not-so-gentle reminder to miners and investors that there is a finite supply of Bitcoin. And what little is left is going to get a lot more expensive to earn or mine.