Is there a limit to the growth of bitcoin prices and how much can the value of one coin grow after reaching the $ 5,000 milestone?
Sergey Drobyshevsky, InSight startup accelerator
Yes. Up to $50 000
The rate of any currency is to some extent a reflection of the economic activity of people using this currency. Now bitcoin is actively growing, as the popularity, demand for this currency are growing. Certainly, at some point bitcoin's exchange rate will reach a saturation point. And its price will grow at about the rate of growth of those areas where it will be used in a daily life.
Bitcoin will have fluctuations, it is inevitable. The nature of these fluctuations in the absence of market stability. Any exchange rate (currencies, stocks, and cryptocurrency is no exception) reacts very strongly to news. There are a lot of news from politicians, entrepreneurs, corporations on the subject of cryptocurrency. If the news is positive for prospects of cryptocurrencies - their rates are growing. If the news is bad - the rates are falling. The currencies are poorly regulated at the moment. Hence there are a lot of news ahead. There will be local failures. At the same time, the growth potential remains large, up to about $50,000 per one coin.
I think that such growth will take about 7-10 years. If we take a look at what is happening now in the market of cryptocurrency and ICO, there are signs of a bubble. At the same time, the growth potential of bitcoin price, and other currencies, delay the moment when it can burst. Most likely the exchange rate now can be heavily influenced by the news about regulation rather than the investors' expectations and fear that the bubble might burst.
Kirill Suslov, CEO of financial blockchain company Finom, the founder of TabTrader
Yes. Up to $55000
Bitcoin, according to forecasts, will cost $55,000 in 5 years. This is our own calculation, based on the opinions of the International Monetary Fund and many prominent economists and blockchain experts. Some experts even go so far that they say that 1 bitcoin will cost $1 million in 5 years. It depends on the speed of its adoption, development of the legal framework, restrictions on the flow of capital and other fundamental factors. In a shorter period, bitcoin can be unstable and experience certain swings and falls, including bitcoin gold and possible forks.
However, there is a risk that a new coin may gain a larger market share and therefore increase the cost if it offers some unique features that users need. This can negatively affect the price of bitcoin. In addition, there is a legal risk that if governments try to resist the network of bitcoins, which, is impossible.
TabTrader is a cryptocurrency trading terminal that allows you to manage accounts on 24 known crypto exchanges. It is one of the five most popular mobile applications in the world for cryptocurrency. Finom is a financial blockchain company formed by merging four organizations that have served more than half a million users from around the world for several years. Finom included: the Nanopool mining pool, the TabTrader cryptocurrency trading application, the Cryptonit exchange and a mining farm.
CEO of Prototypes Group Artem Tovbin
Yes. But not for long
Of course, this is a bubble with high volatility and unpredictability. Welcome to the casino. It will burst, but how soon it is still unclear.
CEO Nakamoto Capital, co-founder of the multi-currency crypto market CoinPlace Klimentiy Tselovalnikov
Yes. Up to $10,000
The nearest limit is 6 thousand, and in the future bitcoin can grow to 10 thousand. The price of bitcoin will be volatile in any case. I do not think that its value will be stable.
Now if bitcoin is growing, everything else is falling - and vice versa. Bitcoin is 50% of the market. Bitcoin can be compared with Sberbank in the Russian banking market. Other banks are also working well, but this one occupies a large part of the market.
As for falls, they can be very serious. There are the biggest players in bitcoin markets, and the price of the first cryptocurrency directly depends on their actions. Since bitcoin is not a security, the manipulation of its price is not a criminal or administrative offence in any country in the world. In this regard, the change in the price of bitcoin is exclusively speculative.
There are a lot of bitcoin holders, and it is completely unprofitable for them that the price will fall dramatically. In addition, bitcoin is used for numerous transactions in the world, so we do not expect a global price fall.
It is possible that bitcoin will cease to be the most popular cryptocurrency. The bitcoin bubble is often compared to the dotcom bubble. It should be understood that when it was heavily blown out, such giants as Amazon, Google and many of the world's largest companies emerged.
PFL Advisors Managing Partner Vladislav Panteleyev
Yes. The limit is out of reach
It seems to me that the limit of bitcoin's growth can be achieved when all the world's money is spent on it, and even in this case the limit will not be reached, since there is an inflation, etc.
The actions of regulators (first of all, the SEC in the US, rejecting bitcoin ETF) prevent the emergence of a platform for investing institutional capital in bitcoin. Judging by what managers of hedge funds are discussing on forums and in podcasts, there is almost no institutional capital in today's bitcoin. Yes, hedge fund managers invest their private money in bitcoins, but not yet institutional money - stock, pension, insurance, etc. If such money were approved by regulators and as a result found the way to the market, then bitcoin would grow even several times.
The price of bitcoin under a limited supply depends solely on demand - on the investors' desire to buy, and on the need of buyers and sellers to use it in trading goods. And the rules of the game in bitcoin are defined by miners. The development of such a young sphere is going slow. As a result, all known problems (transactions are processed slowly, transaction processing costs are high) remain without solutions.
Falls may be caused by negative news background about changes in cryptocurrency regulation around the world: statements by key global politicians and financial organizations. Hardfork is another possible cause of bitcoin drop, in particular the appearance of Bitcoin Gold coin. Now it is interesting for investors to go for bitcoin before hardfork. What will happen after we do not know, but probably many investors can go out of the asset after this event.
Price of bitcoin can be analyzed and predicted by the popularity indexes in the media and search queries. If its popularity is falling - the currency is falling.
Of course, this is a bubble. After all, everyone is talking about Bitcoin.
However, the dollar is bubble as well.
Interviewed by Helen SMART