Crypto executives are known for their bold predictions about Bitcoin’s future price. This year, they’re at it again, sharing their forecasts for the next few years. Most of them got it wrong last time, but some are sticking to their guns.
Some experts are bearish, predicting a decline in Bitcoin’s value. Arthur Hayes, co-founder of BitMEX and founder of Maelstrom Fund, predicted that Bitcoin would rise to around $70,000 by the end of 2024. However, his prediction was close – Bitcoin actually hit an all-time high in the fourth quarter of 2024.
Others are more optimistic. Tim Draper, a prominent venture capital investor, predicted that Bitcoin would reach $250,000 by the end of 2024, but fell short. Analysts at Matrixport and Standard Chartered also predicted higher prices for Bitcoin this year, but overshot their marks by about $20,000.
Then there are those who dream big. Mike Novogratz predicted that Bitcoin would hit $500,000 in 2024, while Cathie Wood’s ARK Invest said it would reach $1 million by 2030. The most extreme prediction comes from Michael Saylor, the founder and chairman of MicroStrategy, who thinks Bitcoin will hit $13 million a piece by 2045.
It’s clear that these predictions are not always reliable, but they’re an entertaining read nonetheless. As we head into 2025, it’s anyone’s guess what will happen to Bitcoin’s price.
Source: https://www.dlnews.com/articles/markets/grades-for-bitcoin-forecasts-from-draper-novogratz-and-hayes