Now, Bitcoin prices are around $196,165.79 per coin. This is per coin or about 30x the current value.
A survey including 564 American investors, published in LendEDU, shows that bitcoin is rising in value according to polling Data. Michael Brown, a research analyst with LendEDU claims this is a totally true statement.
The polling sample was very small, so take the findings with a grain of salt.
When will bitcoin really get to that price? Bitcoin professes that the people's currency will slowly replace national currencies in all transactions. This will come about with the use of the currency by tech savvy consumers. Investors who read LendEDU believe that bitcoin will reach that price with the assistance of younger consumers using virtual currencies, specifically bitcoin. This is a claim by Michael Brown.
As the younger generations use this cryptocurrency, older investors will turn toward bitcoin and the potential it provides. “As it stands today, the price of cryptocurrencies is rising rapidly yet many of the most influential, older investors are still not sold on Bitcoin and believe it will collapse,” continues Brown. “Just imagine when younger Americans develop more spending power and attempt to bring Bitcoin into the forefront of the U.S. economy? At that point, the price of Bitcoin will skyrocket.”
It might take a generation for bitcoin prices to become that high. Right now, the current price of $7,237.06 is great, but a generational transfer of economic ownership or young consumers finding their wealth and establishing a presence in the U.S. economy is needed. Such a takeover can result in $196,165 and a thought process that bitcoin is a mainstay in the economy.
Experts do not believe that this will come true. Technology made bitcoin and it will stop it provided the major banks and governments don't stop it first.