Ten years ago, a new mysterious digital asset came into the world known as Bitcoin. No one knew who built it, all we know is that it came from someone using the code name, Satoshi Nakamoto. The world has been speculating the long term value of Bitcoin ever since it’s creation.
Despite the current bear market sent Bitcoin close to $3,000, from its all-time high of $20,000, there is still believer out there that the leading cryptocurrency will reach over $100,000 and maybe even hit a million dollars.
One of these people that is the popular crypto investor and top author on the TradingView site. MagicPoopCannon asked a question to his some 21,000 followers on Twitter in the hope to find out what the collective crypto investing community thinks Bitcoin’s long-term value will reach.
For my long term view, I see Bitcoin going to at least $100,000 within four years. I think it could even reach $150,000 in that time. Eventually, I believe it could surpass $1,000,000. Where do you see BTC going in the long term?— MAGIC (@MagicPoopCannon) February 26, 2019
Magic himself says that believes that the Bitcoin price will go “at least $100,000 within four years. It could even reach $150,000 in that time.” In the end, it could eventually “surpass $1,000,000.”
According to the Twitter poll, there is a big portion of his followers agrees with him as 42 percent of those who took part voted for the “$100,000 to Millions” option. “30% see the leading crypto only reaching a maximum of the previous all-time high price of $20,000 to $100,000, and just 13% think that its value will top out somewhere between $3,000 and $20,000.”
Some investors have lost their cool during this prolonged bear market who see the price of the leading cryptocurrency falling much further. 15 percent of the voters believe that Bitcoin could bottom to $0 to $3,000.
Of course, these are just prediction and only time will tell as to where Bitcoin will actually get to but Magic’s analysis’ from the past few years have been near perfect over the past few years so who knows.