Market Mavens – Stock Research Made Simple

Four Investors With Bold Predictions About Bitcoin’s Future

Source: Shutterstock Last year, bitcoin exploded in value, going from under $1,000 a coin at the beginning of 2017 to an all-time high of nearly $20,000 on December 17. Shortly thereafter, bitcoin entered a bear market, and is down nearly 40% since the beginning of the year. According to Google Trends, interest has steadily declined since its peak. Bear markets, however, usually don’t last forever. Sooner or later, something happens that reignites the public’s interest and causes the bitcoin price to rise. For example, institutional investors such as endowment funds might decide to start dabbling in this new asset class. Bear markets such as these tend to be good times for long-term investors to start accumulating an asset. Bitcoin currently sits at $8,200 a coin, but some see bitcoin going much higher in the not-too-distant future. Some of these figures have impressive backgrounds in the fields of finance and technology. They have made bold predictions in the past, some of which have come true. Let’s take a look at four of the biggest bitcoin bulls. Bitcoin Bull No. 1: Chamath Palihapitiya Prediction: Bitcoin at $100,000 by 2020/2021, $1 million by 2037. Chamath Palihapitiya ran AOL Instant Messenger and later served as an executive at Facebook, Inc. (NASDAQ:FB). He

Continue reading »