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From $10 million... to zero! The cryptocurrency space is full of extreme price predictions, and these are the 5 most outrageous price predictions for Bitcoin, Ethereum and XRP out there.
XRP to $589
With XRP hovering around $0,30 at the time of writing, it's hard to believe Ripple's token will ever break $100, let alone be worth $589 at some point. Still, that $589 mark is a price point that has kept the XRP community busy for quite a while now. It all started with a Redditor nicknamed Bearableguy123. This very active member of the XRP army gained popularity in the community by hinting at future developments at Ripple with cryptic riddles and pictures.
In February 2018, the XRP insider and fortune teller predicted that Ripple's token would be worth $589 by the end of 2018. Shortly after, his account was deleted from Reddit and Bearableguy123 disappeared. However, the $589 prediction didn't vanish. Yes, XRP didn't hit the $589 mark by the end of 2018, but within the XRP community the prediction is still being discussed actively, with supporters stating that one day the prophecy of Bearableguy123 will become truth.
Read more on Bearableguy123's XRP prediction: XRP at $589? Is it really possible for Ripple's token?
The #XRPcommunity is split between people who believe in the prediction of "bearableguy" of $589 per XRP by the end of 2018 and people who do not.
— xrp_news ⚡ (@xrp_news) 19 september 2018
What do you believe?#xrp #xrpthestandard #ripple
Ethereum to $100K
Yes, $100,000. This prediction was once made by blockchain advisor Brian Schuster. Schuster describes a scenario where Ethereum will become a store of value such as gold. "This gives us a potential market capitalization of roughly $10 trillion, leading us to believe that the price of Ethereum might rise as high as $100,000 per coin. We might even go one step further and say that Ethereum is not like one asset, but an asset to replace all currency that exists."
He even goes a step further, stating that Ethereum could hit '$1 million per coin if ETH will replace all currency that exists'. Schuster does add a disclaimer saying that his price prediction should not be taken 'as gospel'. "My answer is simple: I don’t know, and I’m not going to tell you that it will. But what I will tell you is how to figure this out for yourself by understanding market capitalisation."
Read more: Ethereum at $100,000, is it really possible?
Bitcoin to $1 million
We’re counting down the days until the end of 2020: the moment when either Bitcoin is $1 million… or John McAfee has to eat his private parts on national (Bahamas? Is that the real reason he left the United States?) television. The most famous Bitcoin prediction out there is of course the one from McAfee, who claims that BTC will reach $1 million by the end of 2020.
Read more: If McAfee is right about Bitcoin, what would your investment look like?
If the worst comes and I lose my Bitcoin bet (keep in mind I promised to eat my dick. The cutting it off first was added by the media), I will probably subcontract the task to a relay team of Bangkok prostitutes with instructions to carry out the task slowly, finishing as I exit
— John McAfee (@officialmcafee) December 8, 2018
But he’s not the only one thinking that this is a serious price target for Bitcoin. Vice President of Blockchain and Digital Currencies Jesse Lund recently backed McAfee's prediciton, stating that: 'I see Bitcoin at a million dollar someday'. 'I like that number, because if Bitcoin is at $1 million, then a Satoshi will be equal to one U.S. penny, which would mean that there is over $20 trillion of liquidity in this network and this $20 trillion of liquidity would massively change the global financial services landscape.'
Let's hope we'll see Bitcoin at $1 million... by the end of 2020 or someday.
Read more: Is Bitcoin at $1 million really possible?
Bitcoin to $10 million
As if $1 million isn't enough yet... Lucid Investment Strategies made a bold claim earlier in 2019, stating that Bitcoin could one day be worth $10 million. In an analysis the investment firm claims that global debt has increased 394% over the past 20 years, from $20 trillion to $247 trillion, 'while total world wealth increased 133% over the same period (to $317 trillion)'.
According to Lucid Investments, 'these trends are no longer viable and will soon foce, through one of five alternatives, a solution: A Bitcoin standard, a gold standard, a new commodity/currency basket, economic growth and default on sovereign debt'.
Lucid claims that Bitcoin 'offers the greatest benefits with the least collateral damage to the least number of individuals, corporations, institutions, and countries. Most importantly, it would provide a permanent fix. If Bitcoin was chosen as a solution to the global debt problem, this could see it grow by around 3000% to be worth $10 million. It would have a total market cap of between $180 trillion and $210 trillion (depending on when that price was reached).'
Read more: Bitcoin (BTC) to $10 million? Investment firm claims "it is possible"
Bitcoin to $0
Warren Buffett, Paul Donovan ('I come to bury Bitcoin'), Calvin Ayre, Jim Rogers, Nouriel Roubini and many more. The list of people predicting that Bitcoin will go to zero is endless. But most of all, it's a list with people who either don't understand Bitcoin, are too old and traditional to understand Bitcoin, or are involved in industries that are in danger because of the rise of Bitcoin, cryptocurrencies and blockchain. Nice try Jamie Dimon, but JPM Coin is not going to kill Bitcoin.
As professor Emin Gün Sirer explained to CoinTelegraph before: 'We have seen that these technologies are quite robust. Chains do not just disappear, they are resilient and stick around. Many of us spent years proselytizing for these technologies in general and Bitcoin in particular. As a result, it had immense goodwill and brand recognition built around it. So there will always be a community around the brand that will ensure that that chain makes progress.'
If Bitcoin would go to zero, that means there will be no demand whatsoever. It's hard, if not impossible, to imagine that.
Read more: 10 times Bitcoin was declared dead… and survived
Whatever you may think of these outrageous cryptocurrency predictions, one thing is clear: Bitcoin has already proved it can make the impossible possible. So never say never, even when it comes to XRP worth $589, ETH worth $100K or one single Bitcoin worth $10 million.