Not $1 million, here’s a more realistic Bitcoin price prediction

by James · November 30, 2022

Not million, here’s a more realistic Bitcoin price prediction

The speculative nature of the Bitcoin price has produced strange predictions according to the outlook for the crypto market. Ark Investment Management CEO Cathie Wood has repeatedly said that the Bitcoin price will reach $1 million per coin by 2030. This represents a gain of 6134 percent on today’s price of around $16k. According to Ark analysts, including Yassine Elmandjra, Bitcoin is looking at a $28 trillion global market.

“When we look at Bitcoin’s potential, we segment it across multiple use cases — everything from it competing as a digital store of value, to a settlement network, to insurance against arbitrary asset seizure,” Elmandjra noted.

The prediction may seem far-fetched considering the current emotions triggered by the FTX and Alameda implosion. Confidence in investing in the crypto market has been significantly shut down, with Bitcoin critics such as Peter Schiff indicating that the asset is heading below $10k.

Nevertheless, David Gokhshtein – founder and CEO of Gokhshtein Media – disagrees with most Bitcoin predictions and says he has a more realistic forecast. According to a recent tweet by Gokhstein, Bitcoin will trade at $250k per coin within the next few years.

I see more articles saying that now #Bitcoin going to reach $1,000,000 in the next few years.

I take $250,000 per coin.

— David Gokhshtein (@davidgokhshtein) 29 November 2022

Gokhshtein’s view on Bitcoin price and crypto market over the next few years

Gokhshtein, a famous crypto influencer with over 700,000 Twitter followers, believes the Bitcoin price will comfortably deliver a 10x increase over the next few years. The entrepreneur has made a conservative prediction about the Bitcoin price despite historical data showing otherwise. Also, the Bitcoin price has risen from trading under a dollar to an ATH of $69k in the last decade, driven largely by speculation.

Famed venture capitalist Tim Draper echoed Gokhshtein’s Bitcoin price prediction, stating that women will be the driving force behind such a rally. According to Draper, 80 percent of retail spending comes from women, and that will be a game changer when Bitcoin becomes mainstream.

“When women realize they can get a discount by paying in Bitcoin when retailers realize they can double their profits by accepting Bitcoin, it’s going to have to happen pretty quickly,” Draper noted.

According to a report by Santiment, Bitcoin’s accumulation rate for whale addresses – wallets with 100 to 10,000 BTC – has increased in recent days.

Meanwhile, Gokhshtein has reiterated a bullish stance on the two biggest meme coins, Dogecoin and Shiba Inu. The former candidate for the US Congress believes Shib and Doge will go parabolic in the next bull market.

From my perspective, the Bitcoin price is set for astronomical gains similar to the post-dot com era that saw Apple shares skyrocket to new ATHs over the years. Nonetheless, short-term headwinds are likely to push Bitcoin prices lower before an upward swing.