The speculative nature of Bitcoin price has brought up weird predictions per the crypto market outlook. Ark Investment Management CEO Cathie Wood has time and again said that Bitcoin price will hit $1 million per coin by 2030. Thereby representing a 6134 percent gain per the current price of around $16k. According to Ark analysts, including Yassine Elmandjra, Bitcoin is eyeing a $28 trillion global market.
“When we look at Bitcoin’s potential, we segment it across several use cases — everything from it competing as a digital store of value, to a settlement network, to an insurance policy against arbitrary asset seizure,” Elmandjra noted.
The prediction may seem far-fetched considering the current sentiments triggered by the FTX and Alameda implosion. Confidence in investing in the crypto market has significantly been shuttered, with Bitcoin critics like Peter Schiff indicating the asset is headed below $10k.
Nonetheless, David Gokhshtein – founder and chief executive officer of Gokhshtein Media – disagrees with most Bitcoin predictions and says he has a more realistic projection. According to a recent tweet by Gokhstein, Bitcoin will trade at $250k per coin in the next few years.
Gokhshtein’s View on Bitcoin Price and Crypto Market In the Next Few Years
Gokhshtein, a famous crypto influencer with over 700k Twitter followers, thinks Bitcoin price will comfortably deliver a 10x increase in the next few years. The entrepreneur has made a conservative prediction on Bitcoin price despite historical data showing otherwise. Moreover, Bitcoin price has increased from trading below a dollar to an ATH of $69k in the past decade, fueled mainly by speculation.
Famous venture capitalist Tim Draper reiterated 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 emanates from Women, and it will be a game changer once Bitcoin goes mainstream.
“When women realize that they can get a discount by paying in Bitcoin when retailers realize that they can double their profits by accepting Bitcoin, it’s gotta move pretty quickly,” Draper noted.
According to a report by Santiment, Bitcoin’s accumulation rate by whale addresses – wallets with 100 to 10,000 BTC – has spiked in the recent few days.
Meanwhile, Gokhshtein has reiterated a bullish stance on the two greatest meme coins, Dogecoin and Shiba Inu. The former candidate for the US Congress thinks Shib and Doge will go parabolic in the next bull market.
From my perspective, Bitcoin price is set for astronomical gains similar to the post dot com era that saw Apple shares skyrocket to new ATH over the years. Nonetheless, short-term headwinds will likely push Bitcoin prices lower before an upward swing.