Experts predict new cosmic Bitcoin value. Is it real or speculation?

Bitcoin may rise to $250K or even $350K, or it may fall from the current $17K to $5K. What will be exact is almost impossible to foresee, especially in times of crisis, but this doesn’t prevent many market players from making their predictions about the cryptocurrency value. That would be OK, but the weight of their word somehow disturbs its natural flow. Who is rocking the boat this time — let’s see in the article below. 

$250K per coin prediction 

That Bitcoin will be worth exactly this amount is the opinion of Mark Yusko, CEO of Morgan Creek Capital investment company. And this is not the first time the expert makes such a statement: the last time he talked about it was in May 2022. However, you will have to wait, because he believes that BTC will reach its goal in five years. 

Moreover, Yusko says that the digital asset can eventually replace gold, while the dollar will finally lose its status as the global reserve currency by that time. 

“There is only one money in this world — gold. Everyone else is credit currency, which is backed by debt. Every country’s central bank has gold reserves. Those that have less have abandoned gold and switched to the fiat standard so they can devalue their currency. This is necessary to make the debt smaller,” Yusko said in a recent interview with Stansberry Research.

The expert also added that the abovementioned countries sell gold to China, where he believes its national currency, the yuan, will become the global reserve currency after the USD, but it will eventually be replaced by Bitcoin. 

Yusko also explained why the asset would be worth exactly $250K. The fact is that it will then equal capitalization to gold, and will then finally supplant it, because of its greatest practicality. 

“If I have a bar of gold and I want to split it, I would have to physically chop it up, which is not very convenient. And, of course, I can’t transfer it to a computer. But with Bitcoin, it’s easier: I have to press a few buttons to split and transfer the cryptocurrency. It’s much more mobile and shareable than gold. It’s handier, which is why I expect it to replace gold. Of course, it won’t happen right away, but one day it will,” the expert said. 

Sounds quite logical and convincing, doesn’t it? But Yusko probably means the natural course of BTC, but given the latest events and incredible market volatility because of the crisis, anything can prevent the asset from reaching this level. 

$350K per coin prediction 

Would you believe this prediction if you knew that its author had previously predicted the coming of crypto winter? Probably not, but you must admit that such information would shake your faith anyway. Moreover, you can’t say that it is just words or a finger in the sky, Dave the Wave’s analysis is based on technical analysis of Bitcoin’s Logarithmic Growth Curve (LGC) . Thus, according to experts, BTC will reach its goal in December 2027. 

Though $350,000 might be… https://t.co/YRQ5iRnYQy pic.twitter.com/bK4kUsuIqV

— dave the wave🌊🐫 (@davthewave) December 2, 2022

The popular crypto blogger made his statement after Mike Novogratz, who still believes that Bitcoin will be worth $500K. However, oddly enough, this is still interrupted by the effects of the collapse of FTX, Three Arrows, Celsius Network and BlockFi. This has undermined market participants’ confidence in the cryptocurrency, but Galaxy CEO is confident the situation will get better. 

There were also moments when well-known market participants predicted the opposite, that is, the fall of Bitcoin. Thus, investor Mike Mobius recently said that within the current crisis BTC has not yet reached its bottom, and will fall to $10K, but so far the token shows stable results, deviating neither up nor down. 

Eric Robertsen, head of global research at Standard Chartered Bank, generally assumed that Bitcoin would fall 70% from its November peak, which equals about $5K. In addition, the expert predicts that more cryptocurrency-related bankruptcies are expected next year. We certainly wouldn’t want that, would we? 

Bitcoin current price 

However, no matter which astronomical sums the market participants speak of, it is impossible to say for sure how much this or that cryptocurrency will cost. Therefore, any of their statements are more like speculation, aimed at influencing the price, to increase or decrease it. It is impossible to deny this because: 

• First, the cryptocurrency market is highly volatile compared to other markets. Price movements can vary by up to several hundred percent.
• Second, we have seen many cases where celebrities focus on an asset by artificially changing its value. It does not matter whether they do it on purpose or not, the fact is still a fact.

From the latter, we can remember, for example, how Elon Musk once again influenced the value of his favorite cryptocurrency Dogecoin, or how the Fantom token increased in price after rumors about the return of the famous DeFi specialist. 

As for the current situation, Bitcoin is circling the $17K mark at the time of writing and has a market capitalization of $326.96B. The asset has gained 0.11% in value in the last hour, dropped 1.48% in the last 24 hours, and gained 3.14% in the last week.

It’s not a strong rise, and it’s not a strong fall. It seems to be the calm before the storm, but where the price will go is anyone’s guess. Let’s talk about what happens next.

How can I make money on this?

Previously, we reported that Bitcoin would need to hold steady at $17K in order not to go lower. That’s what’s happening right now, the token seems to be hovering. However, that could change. Currently, BTC has support from the bottom at $16.6K and if it breaks through it, it will fall to about $16.45K. At the top, however, the asset has a bullish resistance level of $17.25K, which if it breaks, will rise to $18.1K. 

Bitcoin is just one of those assets whose small ups and downs are not that interesting and have little impact. The fall from the peak of $65K was impressive, and if the value of the token returns at least to those levels, investors can get their money back, and those who also bought at the bottom will earn good money. And if the predictions of $250K and $350K come true, many will become millionaires or even billionaires. However, as stated earlier, we will have to wait five years.