When Bitcoin made its debut in 2009, its price was less than $ 1. The cryptocurrency has weathered regulations and hard forks to become a billion-dollar industry that makes up more than 50 percent of the total cryptocurrency market cap. While some investors bet on the short-term, there are those that see a long-term future.
Not All Bitcoin Investors are Mark Shulgasser
Mark Shulgasser is one of the investors who see a future in bitcoin. His journey into Bitcoin started in 2016 when he spent $ 1,200 on two bitcoins. Just like his hold on the long-term survival of Bitcoin, he has been perusing his computer screen since 2016 and enjoying his Delaware River waterfall.
When Bitcoin hit the $ 11,000 mark just this December, Mark’s net worth moved up to $ 22,000 with his 2 bitcoins. This keeps him glued to his computer screen more. He now invests in other cryptocurrencies and has cashed in $ 8,000 since he started navigating ICOs and cryptocurrencies, including NEO and Bitquence. Though he has never added any additional cash to his portfolio, he says his involvement in the cryptocurrency is a long-term vision.
More than 50% of American millenials likely to invest in #bitcoin reveals LendEDU Study:
Also, 78.6% of Americans have heard of bitcoin. pic.twitter.com/7ooLLxIkBf
— Joseph Young (@iamjosephyoung) September 24, 2017
Mark isn’t Alone – LendEDU Sees the Future Too
Mark isn’t alone. Between 9th and 13th November 2017, LendEDU surveyed about 564 American Bitcoin investors and found that 21 percent of them had a long-term view of Bitcoin and would hold it for 7 years or longer. 39 percent of them said they see a future in Bitcoin and will hold it for only 1 to 3 years. In effect, all is in the long-term when we consider the investment atmosphere. Interestingly, the average price at which the survey respondents said they would sell their Bitcoin is $ 196,165 per coin.
Standpoint Research’s Moas Sees Bitcoin Overpowering Gold
Standpoint Research’s Ronnie Moas, a big-time Bitcoin investment magnate, believes that the price expectations revealed in the LendEDU survey are a little ambitious compared to his own medium-term projects, but they aren’t altogether impossible to reach, either – it will simply take longer. After having recently raised his “split-adjusted” 2018 price target on Bitcoin from $ 11,000 to $ 14,000, he has raised it yet again from $ 14,000 to $ 20,000.
Moas’ prediction for Bitcoin’s long-term future?
Today, the value of all bitcoin is at about $ 130 billion (out of $ 250 billion invested overall in cryptocurrencies), but the world has $ 8 trillion invested in gold right now. […] An argument can be made for bitcoin to have the same valuation.
Will the cryptocurrency market cap increase as speculated? What do you think will be the cause if it does increase?
Images courtesy of Shutterstock