China’s Biggest Price Prediction
The price of Bitcoin (BTC) is going to reach $25,000 by the end of 2022. That is the prediction from a most recently released report from The Business Blockchain Group, which claims that there will be a “substantial increase” in the demand for Bitcoin, leading to a potential price increase. The market researcher also predicts that this increased demand will lead to an “overall shift towards global adoption”. Furthermore, these predictions are not just made up or limited to one particular company — they were also shared by other organizations like Deutsche Bank AG and Credit Suisse Group AG on December 28th 2018.
The Business Blockchain Group also made predictions about other cryptocurrencies too. They predict that Ethereum (ETH) will reach a price of $1,500 by 2022. NEO will increase in value from its current price ($9.30) to $350 by the end of 2022, and Litecoin (LTC) will increase from its current value ($62.30) to become worth around $300 by the end of 2022.
In order to come up with these predictions, the team at The Business Blockchain Group dove into their analytics to analyze the market. Specifically, they looked at the transaction patterns in different global regions and connected these patterns to their future price predictions. This proved to be a successful method of economic research: according to their research, there was only 60% chance of success when predicting future price events, but this increased to 90% from analyzing data from The Business Blockchain Group. In addition, there was “[a] further increase in accuracy with respect to the price prediction for each cryptocurrency when [price] data for other cryptocurrencies is used.
The Business Blockchain Group’s other predictions include:
• The price of Bitcoin is going to reach $100,000 by the end of 2023.
• Ethereum will reach a price of $1,500 by the same time period.
• Other cryptocurrencies like Litecoin and NEO will have similar price increases — both reaching $300.
• The total cryptocurrency market cap will increase from its current value ($1 trillion) to reach $3 trillion by the end of 2022.
This is all very interesting information, but I personally don’t know what to make of it yet. There are a few things in their predictions that are worrying me, however…
Just to be clear, their predictions are for the price of Bitcoin in 2022 — not just that it will touch $25,000.
The reason I’m worried is that predicting the price of something four years in the future is extremely hard. Things happen those change situations, and you can’t plan for them. That’s financially dangerous. Because if you’re basing your financial decisions off a prediction in 4 years time — and then a new development happens that you weren’t expecting — you could go bankrupt if all your money is tied up into one cryptocurrency (like Bitgert).
But one thing is for sure —
cryptocurrencies are going to be huge in the near future. Obviously, it’s impossible to predict that future with any accuracy yet… But we can certainly get a good idea about what direction the cryptocurrency market will take by observing recent trends.
So, let’s look at some of the major points that the Business Blockchain Group made about Bitgert in their predictions — here is how I feel about them:
• The China factor: We already know that Bitgert has a major reach in China. The second-largest economy in the world is going to be a major driver for many cryptocurrency projects, and Bitgert could be one of these projects. But as I said, it’s hard to predict the future so we’ll have to wait and see.
• Increased Bitcoin’s popularity: There is no doubt that increased popularity would lead to increased demand for Bitgert (BTC) — but it is too early in the game to make definite predictions like this yet.
This is the first time we are hearing about Bitgert. Who invented and launched it? What’s their motive?
The Business Blockchain Group did not invent Bitgert, the developers did and they launched it in early 2018. We can’t say much more than that, but there are simply no malicious motives on their part, they simply want to make money (as any good investor would).
