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‘Hyperbitcoinisation’ is expected by 54 percent of panelists by 2050, 29 percent by 2035, and the remaining by 2025.
The panel expects that Bitcoin’s price will have risen to $66,284 by the end of 2021, but only after plunging to $25,112.
The adoption of Bitcoin will be vast within the next three decades, according to a panel of 42 crypto specialists from Finder. The experts also predicted that the cryptocurrency’s price will rise to $318,417 by 2025 and $4.3 million by 2030.
‘Hyperbitcoinisation,’ according to 54 percent of the fintech panelists, will happen by 2050. The panelists believe Bitcoin will have eclipsed fiat currencies by this time. Although 29 percent of the 42 people polled agreed with this assessment, they predicted that it will happen as early as 2035.
Panelist Joseph Raczynski, a Thomson Reuters technology and futurist, believes that “hyperbitcoinisation” will happen as early as 2025. He also predicted that at that time, the digital currency will be worth $150,000.
“BTC will be used as the principal currency in several countries. It will serve them well to migrate to a “bankless” model inherent in this ecosystem, with fixed circulation and simplicity of transfer “Raczynski stated the following.
Market analysts’ opinions on Bitcoin
Although the report was mainly positive, 44 percent of panelists disagreed with the majority’s viewpoint. Despite expectations of steep price increases, this group does not believe Bitcoin will take over world finance.
“In the end, I believe Bitcoin (and many other cryptocurrency assets) will be surpassed by central bank digital currencies, many of which will be operational by the end of the decade,” said Lee Smales, an associate professor at the University of Western Australia.
Furthermore, roughly 31% of the panelists believe that environmental issues will cause Bitcoin’s price to plummet. Elon Musk, the CEO of Tesla, Inc., has expressed strong opposition to the cryptocurrency’s carbon imprint. Musk went so far as to say that Bitcoin would not be accepted as a form of payment for his company’s electric vehicles. Bitcoin has also been targeted by Chinese regulatory officials and politicians, including Senator Elizabeth Warren. Sen. Elizabeth Warren, who recently slammed Bitcoin, now wants the SEC to investigate cryptocurrency exchanges.
Cryptocurrency forecast for the near future
Bitcoin is expected to reach $66,284 by the end of the year, according to the panel. However, Bitcoin’s value will drop to $25,112 in the short term before recovering.
Despite this, 55% of experts believe now is a good time to buy Bitcoin. On the other hand, 38% of respondents preferred HODLing, while 7% thought selling was the superior option.
The Finder team agrees that Bitcoin’s competition will only get tougher as time goes on. Ethereum, for example, has smart contract capabilities despite its astronomically high gas fees. Ripple (XRP), Bitcoin Cash (BCH), Dash (DASH), and Litecoin (LTC) are more Bitcoin competitors (LTC).
According to our data, the price of bitcoin was $31,238 at the time of writing, down 2.09 percent in the previous 24 hours. After a 50% price drop from a peak of $65,000 in mid-April, the cryptocurrency has been hovering around $30,000 recently. Despite recent reports that Bitcoin has entered a “death cross,” 62% of panelists believe it will not enter a bear market.
Predictions for Bitcoin and Cryptocurrencies/n
