The Future Value of Bitcoin.. What are the Predictions?

Tom Lee, an advisor at Fundstrat Global Advisors, predicts that Bitcoin could reach $25,000 in the future, while Jim Cramer said it could someday reach a million dollars.

In response to the CEO of Business Insider, who commented that Bitcoin will reach a million dollars, Cramer wrote: "I believe it can reach that value, as European banks are in a frenzy to buy Bitcoin, which allows them to avoid paying fees." At the beginning of 2017, Bitcoin only reached its first $2,000, and now it has surpassed $8,000. This increase could reach a million someday according to many, but that doesn’t mean it’s certain; all of this is still mere speculation and market studies regarding the use of the currency.

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Some say Bitcoin may have no future due to the many cryptocurrencies that emerged afterward, as it could be replaced someday. However, the opposite is true; other cryptocurrencies are built on Bitcoin, so if Bitcoin falls, all other currencies will fall with it. It remains dependent only on the possibility of an alternative currency surpassing Bitcoin, which seems quite unlikely considering the value Bitcoin has reached currently. As Vortex (a Bitcoin news magazine) said: "Bitcoin is digital gold."