The emergence of decentralized autonomous organizations (DAOs) has created a world where cryptocurrencies are free from regulation. These organizations can process thousands of transactions per second. If demand becomes too high, however, the DAOs could rally against each other, driving prices down. Nevertheless, even if a DAO is not the best way to achieve that goal, it can still have a dramatic impact on the price of a single coin.
The Bitcoin price has risen sharply in recent months. In November, the currency reached almost $69,000. Today, it’s worth less than $50. At that time, it’s down about 30% from its peak. By this measure, it would be a bear market, which would be considered a 20 percent decline. Although the volatility of Bitcoin makes it difficult to predict the exact price, some analysts believe that the coin will reach a market cap of $8 trillion by 2030.
While the future of cryptocurrency is still uncertain, there are some predictions that suggest a long-term rise. In fact, billionaire venture capitalist Tim Draper predicted that Bitcoin will reach $250,000 by 2022. The same was true of Coinbase’s IPO, which sparked mass interest in the digital currency. On the other hand, the market did suffer a significant correction in April, largely due to speculations about government regulation.
The Winklevoss twins, two prominent Bitcoin billionaires, have recently made a prediction about the price of the cryptocurrency at $500,000. In their blog post, they explain the reason for this prediction in detail. Anthony Pompliano, the founder of Morgan Creek Digital, an asset management company that focuses on cryptocurrency, claims that he has 50% of his net worth in the currency.
The market will see an increase in demand for digital currency. The emergence of the second generation of the millennial generation is the key driver of its growth. Hence, bitcoin’s popularity is predicted to remain at this level for the next decade. It may also be possible for it to reach $1 billion in the next decade, which would be an astounding achievement for the cryptocurrency. If this is the case, then it’s time for a real Bitcoin investment.
While the future price of bitcoin is uncertain, it has already exploded in 2014 and has topped the $920 billion market cap. Nonetheless, it will be interesting to see how it will perform in 2030. The price of bitcoin in 2014 soared to 66% in Q1, then fell to 16.7% in Q4 in 2015. It’s a cumulative loss of almost 50% in the second half of the year. By contrast, the cryptocurrency has fallen by more than 30 percent in Q1 and tenfold in 2018, as the average of four years.