1.4. Projections

The highly volatile nature of the nascent cryptocurrency markets makes it exceptionally hard to predict their future growth, but to give you an idea of what to expect in the coming years, we will present a brief overview of projections by some of the most notable key players in these markets.

First and foremost, there is the widely publicized “1 Million USD by the end of 2020” prediction by the famous billionaire investor John McAfee. He emphasized that this seemingly excessive target would be achievable because the US Dollar will be massively devalued over the next years. McAfee might be considered a quite controversial figure but his track record of incredibly successful investments is unquestionable and he is not the only one with such exaggerated price targets.

The renowned hedge fund manager, serial entrepreneur and venture capitalist James Altucher also has a Bitcoin price target of 1 Million USD by 2020 and though he was elected the most influential business journalist of 2017, he is certainly not just juggling numbers.

The prominent venture capitalist Tim Draper just recently stated his Bitcoin prediction of 250,000 USD by 2022, which seems to be a much more realistic timeline and target but even that would suggest a staggering 3,000% gain from the current price levels.

But not just Wall Street legends seem to believe in a bright future for this market, even the democratic US Senator Mark Warner labelled cryptocurrencies as transformational tech that would change the world and predicted a market capitalization “north of 20 trillion Dollars” by 2020