JOHN MCAFEE: Bitcoin Price Could Still Hit JOHN MCAFEE: Bitcoin Price Could Still Hit $1 Million in 2020 | BTC Price Prediction Million in 2020 | BTC Price Prediction

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The First Bitcoin Price Prediction Ever Made

According to Blockstream founder and cypherpunk, Adam Back, Hal Finney’s $10 million BTC price prediction isn’t so far fetched, though, the reasons behind these levels may not be as apparent as you may think.

When it comes to any Bitcoin prediction, crypto analysts often tout the most hyperbolic and over-inflated projections imaginable.

From the more modest end of the spectrum at around $10,000, toward the virtually inconceivable heights of $10 million, valuations within this space can vary wildly.

Regardless, some augers of these seemingly aggrandized Bitcoin (BTC) price points do sometimes offer a reasonable explanation to support them.

Currently circulating its way around the ecosystem are some of the earliest price predictions ever made, and per Back, they may well come to fruition.

Merely a week after the mining of bitcoin’s genesis block, Hal Finney opined that BTC could grasp a value of $10 million per coin. 

This hypothesis was based – as many BTC predictions are these days – on bitcoin becoming a de facto global payments system.

Finney wrote:

“As an amusing thought experiment, imagine that Bitcoin is successful and becomes the dominant payment system in use throughout the world. Then the total value of all the currency should be equal to the total value of all the wealth in the world.”

Cypherpunk Hal Finney made this infamous Bitcoin thought experiment 11 years ago so we updated it for this decade.

A revised BTC prediction: The world’s economy has grown in the 11 years since the post was made.

According to “The Global wealth report 2019” by Credit Suisse, the total worldwide household wealth today equals approximately $360 trillion.

Divide it by 20 million bitcoins, and we get an even bigger number – roughly $18 million for a single coin.

This would be an increase of 225,000% in the price of Bitcoin – a value appreciation not unheard of in the Bitcoin ecosystem.

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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.

Show Notes / Resources:

Totally agree. Must admit that I probably would not have this level of confidence (and interest) in bitcoin, if I would not have had 20+ years experience investing $100B AUM and personally seeing the unintended consequences of quantitative easing (QE) and negative interest rates.

— PlanB (@100trillionUSD) January 11, 2020

Running bitcoin

— halfin (@halfin) January 11, 2009

https://decrypt.co/16494/hal-finneys-idea-now-sees-18-million-bitcoin-price-prediction

https://www.ccn.com/adam-back-10-million-bitcoin-prediction-is-closer-than-it-sounds/

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BREAKING – A new deal between payments giant NCR and NYDIG will bring Bitcoin purchases to 650 U.S. banks and credit unions. NCR offers ATMs and kiosks in 160 countries. 

650 U.S. banks will soon be able to offer bitcoin purchases to an estimated 24 million total customers. As part of the deal, between enterprise payments giant NCR and digital asset management firm NYDIG, community banks including North Carolina-based First Citizens Bank and credit unions including Bay Federal Credit Union in California will be able to offer their clients cryptocurrency trading through mobile applications built by the payments provider. 

In other trending Crypto News today: Ethereum Could Surge Above $20,000 on Back of This Emerging Crypto Sector, According to Coin Bureau! The pseudonymous host of Coin Bureau thinks Ethereum has the potential to surge past $20,000 with the help of an emerging sector of the crypto markets.

In a new video, the popular analyst who goes by Guy says that decentralized finance (DeFi) and its ability to replicate the services of traditional finance without the drawbacks will be the catalyst that pushes Ethereum to the stratosphere.

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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.

Show Notes / Resources:

https://www.forbes.com/sites/michaeldelcastillo/2021/06/30/6-billion-ncr-opens-bitcoin-purchases-to-650-banks-and-credit-unions/?sh=4e999da3f826

https://cointelegraph.com/news/institutional-investors-aren-t-buying-bitcoin-at-50-of-all-time-highs-for-now

TA: Bitcoin Lacks Momentum Above $36K, Why BTC Could Correct Lower

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As Bitcoin (BTC) enters another bull-and-bear fight, ranging between $7,800 and $8,200, Crypto Twitter traders are warming up to a bullish attitude.

Leading social media names have returned with a bullish attitude to Bitcoin price moves, as the coin is now battling out new support levels.

This BTC price analysis today includes Fundstrats Thomas Lee who tweeted:

“We published our 2020 Crypto outlook and made the full report available for our clients.

– bottom line: financial markets tend to discount 1-3 months, and maybe 6 months (max).

So highest probability is halvening not priced in.”

Here’s a glimpse from Tom Lee’s report:

“2020 Outlook: 3 Positive Convergences Halving + Geopolitical risk +2020 Elections = 100%+ return for Crypto Bitcoin returned 92% in 2019, trouncing all other major asset classes, an impressive return given the significant policy and regulatory headwinds that emerged in 2019 – the Congressional blowback form Facebook’s Libra and the correlated White House bashing of Bitcoin marked the highs for 2019. For 2020, we see several positive convergences that enhance the use case and also the economic model for Crypto and Bitcoin – thus, we believe Bitcoin and Crypto total return should exceed that of 2019. In other words, we see strong probability that Bitcoin gains 100%+ in 2020.”

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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.

Show Notes / Resources:

In a nutshell, I’m expecting a bullish run in BTC lead by LTC as a confirmation signal.

— Willy Woo (@woonomic) January 10, 2020

$BTC UpdatePrice bounced and closed at support Watching for a potential new range to develop above the previous range

Price doesn’t look bad and held where it needed – trade the ranges and be patient, stop worrying about $5k or $10k right now pic.twitter.com/73lFubZVqa

— Josh Rager 📈 (@Josh_Rager) January 10, 2020

I’m out surfing right now so I’m not looking at the charts but a quick scope of Twitter shows me all I need to know.Bear cope & more bear cope.I’ll be bearish the moment we start closing below 7500, not when BTC is retesting it’s neckline.

Still long & strong.

— DonAlt (@CryptoDonAlt) January 9, 2020

5 Top Crypto Twitter Traders Are Bullish on Bitcoin Right Now