Will Bitcoin ever hit a million?
Known for her innovative investment approach,
Ark Invest CEO Cathie Wood in August, said that Bitcoin has the potential to surge into the six-figure range and possibly reach $1 million by 2030. In an exclusive interview with Benzinga, Wood reaffirmed her conviction that Bitcoin could achieve the $1 million mark within a timeframe of five to seven years.
As bitcoin becomes more and more mainstream and integrated with traditional assets, it isn't inconceivable that it could hit US$100,000 in 2024 – an extraordinary feat for a invention that was worth nothing as recently as 2009.
| Year | Minimum Price | Average Price |
|---|---|---|
| 2027 | $248,270.17 | $255,439.45 |
| 2028 | $360,980.90 | $371,197.88 |
| 2029 | $535,091.49 | $549,940.00 |
| 2030 | $754,034.59 | $776,031.39 |
Bitcoin, it found, is likely to hit an average peak price of $87,875 in 2024, with some experts predicting it will climb as high as $200,000. On the flip side, the average lowest price Bitcoin could hit by the end of 2024, is seen as $35,734, the report said, with some predicting it will fall as low as $20,000.
A $100 investment in Bitcoin could purchase 0.00607 BTC today based on a price of $16,466.14 at the time of writing. If Bitcoin hits the $1 million price target by Wood in 2030, the $100 investment would turn into $6,070. This represents a gain of 5,970% from now until 2030.
By 2040, the maximum price of the BTC Coin is projected to be around $5,69,240.60. Our average price forecast for Bitcoin is $5,57,632.74 in 2040. Conversely, if the market turns bearish, the minimum price level of BTC Coin could fall down to $5,42,838.40 by 2040.
If we draw a line connecting Bitcoin's historical lows, we get a prediction of $1.3 million by 2030 and a staggering $200+ million by 2040 and 2050, which would put its market cap at an unreasonable $4 quadrillion. By this time, this asset class will likely be matured.
Bernstein senior analyst Gautam Chhugani believes the price of Bitcoin could reach $150,000 by mid-2025. Standard Chartered analyst Geoff Kendrick believes Bitcoin could hit $200,000 by the end of 2025.
| Bitcoin Price Prediction | Potential Low ($) | Average Price ($) |
|---|---|---|
| 2025 | 61,357 | 95,903 |
| 2026 | 82,522 | 115,569 |
| 2027 | 152,837 | 160,942 |
| 2028 | 174,063 | 183,485 |
What could Bitcoin be worth in 20 years?
Max Keiser predicts Bitcoin to be worth $200K in 2024. Fidelity predicts one Bitcoin will be worth $1B in 2038. Hal Finney predicted $22M per Bitcoin by 2045.
The index includes top tokens like $SOL, $ETH, and $WBTC- all of which are expected to see considerable gains in 2024 - making this a fantastic DeFi platform primed to explode throughout the year.
Satoshi Nakamoto, the pseudonymous creator of Bitcoin, is believed to own the most bitcoins, with estimates suggesting over 1 million BTC mined in the early days of the network.
Analysts recently detailed a $10 million bitcoin price prediction from Tom Lee of Fundstrat Global Advisors. A resurfaced projection by Tom Lee, managing partner and head of research for Fundstrat Global Advisors, indicates that the bitcoin price can reach as high as $10 million within decades.
JPMorgan said it expects bitcoin to fall after the reward halving. The bank's analysis shows that the cryptocurrency remains overbought. Miners will be most affected by the event, the report said.
For Dogecoin's price to skyrocket, demand would need to outpace rising supply. That's a tall task. In my view, then, there are no fundamental reasons to be long-term bullish about Dogecoin. In fact, it's very unlikely the token will rise 600% to reach $1 by 2030.
If you had bought $1,000 worth of bitcoin 10 years ago, it would have grown by 7,644% and be worth around $77,443 as of Feb.
That investment would be worth $6,859,178,076.22 today based on the same price of $28,122.63 at the time of writing.
A reasonable assumption that Bitcoin could hypothetically reach the null state of it's value is worth the thought. Even-though such an event is very less likely to take place, there are some factors that could theoretically lead to Bitcoin price crashing to zero.
Sarathy concurs that there are risks involved with investing in these cryptocurrencies, including price volatility, cybersecurity concerns and a lack of regulations compared to traditional currency. Ultimately, it's up to each individual user how much risk they want to take.
What will Dogecoin be worth in 2050?
CoinMarketCap analysts expect Dogecoin to remain a major player in the cryptocurrency market for years to come and foresee that its price could reach up to $4,423 by 2050. According to CoinCodex analysts, the DOGE price would be $1.61 in 2050, assuming the S&P 500's average yearly growth rate of 11.8%.
If Wood is correct and Bitcoin reaches $3.8 million, if you invested $1,000 in Bitcoin now, it would be worth $54,280 in 2030. This would result in a compounded annual growth rate (CAGR) of nearly 95%.
Ethereum price prediction for 2050
If Ethereum were to grow by an average yearly rate of 11.1%, the ETH price prediction for 2050 would be approximately $52,692. This would imply a market capitalization of $5.91 trillion, based on the current ETH supply. No cryptocurrency has reached such a valuation so far.
| Year | Minimum Price | Maximum Price |
|---|---|---|
| 2030 | $36,796.32 | $43,432.66 |
| 2031 | $54,306.57 | $64,564.54 |
| 2032 | $78,895.11 | $94,084.59 |
| 2033 | $111,247.87 | $137,752.22 |
