According to the Long Term Bitcoin Forecast from one of the Winklevoss twins, Cameron Winklevoss, this cryptocurrency has “potential appreciation” of thirty to forty times its current value.
9 February, AtoZForex – As Bitcoin price has gained back some power, Bitcoin investors are looking for the further direction. In the meantime, industry experts are weighing in the outlooks for this cryptocurrency. One of the latest Bitcoin price forecasts came from Winklevoss twins, popular Bitcoin billionaires.
Winklevoss Twins' Long Term Bitcoin Forecast Sees 30 Fold in Value
According to Cameron Winklevoss, Bitcoin has “potential appreciation” of thirty to forty times its current value. The outlook has covered a time span of 10 to 20 years.
As of now, the market capitalization of Bitcoin stands just below $140 billion, after the figure has dropped to $102 billion due to the huge cryptocurrency market sell-off. This number would place the estimation of Bitcoin market cap from WInklevoss brothers at over $5 trillion.
In addition to that, Winklevoss brothers believe that Bitcoin has the potential to disrupt gold market, which market capitalization as of the moment stands at $7 trillion.
WInklevoss twins have also reacted to the recent negative remarks about cryptocurrencies from the representatives of JP Morgan and some officials at the World Economic Forum (WEF) in Davos. Tyler Winklevoss has stated that digital currencies will serve as a perfect instrument of machine-to-machine transactions. He has added:
“Cryptocurrencies aren't really important for human-to-human transactions ... but when machines-to-machines trade economic value, they are going to plug into protocols like bitcoin and ethereum. They are not going to open bank accounts at J.P. Morgan ... those were invented by bankers before the internet existed. The criticisms are just a failure of the imagination."
The CEO at Outlier Ventures, Jamie Burke has stated the cryptocurrency bull run will be followed by settling down of the market. He has explained:
“We believe after February the market will likely go on a bull run comparative if not greater than last year potentially reaching the trillion-dollar mark before a proper crypto winter sets in where the market becomes more focused on proper market fundamentals.”
The head of APAC business at Gatecoin, Thomas Glucksmann, believes that the regulation along with the introduction of institutional capital will push the cryptocurrency prices higher. He also mentioned the technological advances as one of the key factors in improving crypto prices. He has stated:
“There is no reason why we couldn’t see bitcoin pushing $50,000 by December.”
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