In this article we provide our Bitcoin daily predictions for 2021 and beyond. We also talk about why Bitcoin is important to our financial future and why the price is likely to go much higher. In short, it is anticipated that Bitcoin price could soon be in the range of $50,000 – $250,000.
Before delivering our Bitcoin daily predictions it is important to understand what Bitcoin is. In addition, we discuss the history of Bitcoin, why it was invented and what makes it valuable. This will help you better understand our Bitcoin daily predictions.
What is Bitcoin?
The largest and oldest cryptocurrency, Bitcoin is a Peer-to-Peer Cryptocurrency Payment System
Bitcoin is an open-source, block chain-based technology that was designed as a peer-to-peer payment system. It is designed to be a decentralized electronic payment method that can be conducted semi-anonymously among individuals. It is intended to be a digital cash. The other intent of Bitcoin is to solve the double spend, trust problem that had been encountered in the past with electronic currencies.
Using block chain technology to maintain its functionality, Bitcoin miners contribute to the system. For users to send and receive bitcoin, the block chain depends on miners. Moreover, computers are used by miners to complete complex calculations which build blocks on the block chain. As a reward, the miners receive Bitcoin as payment when each block is completed.
Satoshi Nakamoto Issued the Bitcoin White Paper in 2009
In January 2009, Bitcoin was born. It is unknown who invented bitcoin; however, a developer named Satoshi Nakamoto (probably a pseudonym) released a 9-page white paper entitled, “Bitcoin: A Peer-to-Peer Electronic Cash System.” The Bitcoin white paper describes Bitcoin’s purpose and how it works.
Finally, Bitcoin was the first cryptocurrency to experience widespread use and adoption. However, its use case has evolved over the years from a peer-to-peer payment method to a store of value model. Many Bitcoin users hold bitcoin much like you would hold silver or gold in an investment portfolio.
Bitcoin Limited Supply
Only 21 Million Bitcoins Will Ever Be Mined, Making Bitcoin Inflation-proof
There is a limited supply of Bitcoin, which directly effects the Bitcoin daily predictions. Only 21 million Bitcoins will ever be mined for circulation. Therefore, by definition, Bitcoin is a deflationary money. This is in stark contrast to how central banks around the world like the Federal Reserve Bank print more money, continuously creating inflation.
Currently there are approximately 18.5 million Bitcoins that have been mined for circulation. In theory, there are only 2.5 million Bitcoin left to mine. This means that 88% of all Bitcoins that will ever be produced are already circulating. When 21 million Bitcoins have been mined at some point in the future, no more coins will be produced, and the mining of Bitcoin will cease. In addition, limited supply of Bitcoin is what is so exciting about estimating the Bitcoin daily predictions.
You Will Probably Never Own 1 Bitcoin
There are only 21 million Bitcoins available to the entire world. As a result, Bitcoin supply is limited. The world population is currently almost 8 billion people. In theory, this means that even if everyone wanted a Bitcoin, there are not enough Bitcoins to go around. As a result, most people will only be able to own a fraction of a Bitcoin. Specifically, economists interpret this situation as a low supply, and growing demand economy. Furthermore, this is the kind of economic situation that drives prices higher and makes Bitcoin daily predictions easier to understand.
Bitcoin Adoption is Growing Rapidly
There are a couple of things to understand about Bitcoin growth. First, Bitcoin is growing in popularity and use worldwide. Users are adopting Bitcoin as a store of value like gold and using it as a payment method in places where banks don’t exist. Second, Bitcoin is growing in price.
When users began mining Bitcoin on laptops in 2009, it had little value. Yet today one Bitcoin is equal to $10,000! Around 2020, billions of Dollars of institutional money began to flow into Bitcoin investments.
Examples of Institutional Money Investments in Bitcoin:
- ARK Investment Management and Kinetic Portfolios Trust, two large investment funds representing wealthy clients, have begun investing in the Grayscale Bitcoin Trust.
- Wall Street billionaire investor Paul Tudor Jones has invested approximately 2% of his investment portfolio in Bitcoin
- Michael Saylor, Founder and CEO of MicroStrategy invested over $400 Million in Bitcoin in 2020.
- Twitter/Square CEO Jack Dorsey invested $50 Million in October 2020 in Bitcoin.
There are many other known examples of institutional investors who have begun investing in Bitcoin.
Will Bitcoin Reach $100,000?
Anthony Pompliano: $100,000-$400,000
Anthony “Pomp” Pompliano of Morgan Creek Digital made the Bitcoin daily predictions $100,000 in late 2021. Well, there’s not much time left for that to happen, but anything is possible. However, in August 2020 Pompliano doubled down on his Bitcoin daily predictions. He’s now predicting $400,000 Bitcoin with an overall market capitalization of $8 Trillion. At this level, Bitcoin would be more valuable than the gold market.
Max Keiser: $100,000-$400,000
Much like Pomp, Max Keiser has also made a very bold Bitcoin daily predictions. Max has been in the Bitcoin space for many years and has been bullish for years. He originally began predicting that Bitcoin would shoot up to $100,000. However, recently he has moved up his prediction to the $400,000 range like Pomp.
In February 2020, Max spoke with radio host Alex Jones about Bitcoin. He stated,
“I am officially raising my target for Bitcoin and I first made this prediction when it was $1. I said this could go to $100,000. I’m raising my official target for the first time in eight years. I’m raising it to $400,000.”-Max Keiser, February 2020
In other Bitcoin price news, Max Keiser correctly predicted that Bitcoin would rise to $20,000 by the end of 2020. Furthermore, in January 2021, he made another bold prediction while being interviewed by Daniela Cambone of Stansberry Research: $220,00 Bitcoin by the end of 2021!
Prediction of Bitcoin Price – 2025 and Beyond
Mike Novogratz: $350,000-$400,000
Former hedge fund manager, Mike Novogratz, has gone on the record several times predicting bitcoin market capitalization. Furthermore, he believes Bitcoin will ultimately surpass the market capitalization of gold and reach approximately $7.5 Trillion. This equates to approximately $400,000 Bitcoin daily predictions.
Chamath Palihapitiya: $1,000,000
The founder of Social Capital, Chamath Palihapitiya, has been trading bitcoin since 2012. He allegedly owned approximately 5% of the total volume of Bitcoin in existence at one time. Mr. Palihapitiya made Bitcoin daily predictions of $100,000 in the next few years. He also believes Bitcoin will reach $1,000,000!
Future Bitcoin Daily Predictions
$50,000 – $250,000 Price Range for Bitcoin Based on Gold Market Capitalization
It seems clear that in 2021, Bitcoin will begin its next phase of expansion and adoption. As a result, Bitcoin’s price will likely go much, much higher. We at Piggy Bank Coins believe the future is bright for Bitcoin. We have made a clear case that Bitcoin is a strong store of value, a deflationary asset with limited supply, strong security and a growing network of users.
Historically, Bitcoin price has fluctuated, which hurt its reputation. However, Bitcoin price has stabilized over the past 2 years. As the world economy stumbles through a massive recession and the US Dollar struggles to maintain relevance in a changing world economy, Bitcoin may be the answer.
Future Bitcoin Market Capitalization $1 – $5 Trillion is Reasonable
According to the Visual Capitalist, the world gold market is valued at approximately $10.8 Trillion. Less than half of the value is in jewelry. Therefore, we can assume that gold, the world’s favorite “store of value,” is a $5 Trillion market. Bitcoin, a new “digital store of value” has a market cap value of only $200 Billion (4% of gold’s value). Imagine what Bitcoin will be valued at when it begins to realize it’s place as the world’s new store of value. A Bitcoin with a market capitalization of $1-$5 Trillion is not beyond reasonable calculation.
A Bitcoin market capitalization of $1-$5 Trillion equates to $50,000 – $250,000 Bitcoin, priced in US Dollars. Pricing Bitcoin in this range does not require much imagination. In addition, we have not factored in price impacts such as US Dollar devaluation/failure, other money supplies moving to Bitcoin (M1, M1, M3, etc.), institutional adoption, and so much more.
Bitcoin Daily Predictions Wrap Up
Clearly, Bitcoin has a promising future as a store of value and a part of the world’s monetary system. It has demonstrated clear stability in the past 12 years, with price and network strength pushing forward year after year. As more people continue to adopt Bitcoin worldwide, it seems obvious that the Bitcoin daily predictions will only go higher over time.
It is important to note that Piggy Bank Coins does not provide financial advice. We don’t endorse or recommend any financial investments. Instead, we provide information for educational purposes to those seeking knowledge regarding personal finance. However, in the spirit of transparency, note that the author is an investor in cryptocurrencies, precious metals and some equities.
In addition, The Federal Trade Commission (FTC) requires that Piggy Bank Coins disclose to readers that we may receive commissions when you click our links and make purchases. However, this does not impact our reviews and comparisons. We try our best to keep things fair and balanced, in order to help you make the best choice for you.