USD 100 000 Price for a Bitcoin In The Near Future

This is the prediction of Eran Eyal - CEO of Shopin, a secure profile that enables shoppers to own their complete purchase data.

by Viko
24 January • 1.5 min
In News

In a CNBC interview, the tech boss also insisted that each cryptocurrency has its own business model that makes it different from the others. “We cannot look at Bitcoin and at Ethereum the same way, they are not both apples and people should understand that,” Eyal pointed out.

Eran Eyal portrait

According to him, a shocking rise of Bitcoin’s value is quite expected: “Just look how much value Bitcoin has gathered in recent years. There’s no doubt that in the near future it can reach the unthinkable 100 grand.”

The price of Bitcoin reached just above $11 000 on January 22, dropping from Christmas’ record of just under $20 000.

The Bitcoin’s popularity literally exploded last year and this lead to an increase of the value of other cryptocurrencies such as Ethereum and Ripple, the expert said.

Meanwhile, billionaire Warren Buffet warned that the “cryptocurrencies bubble will burst and leave many people and companies broke”.

The recent more than 40% drop in Bitcoin’s price coupled with cyber attacks that blocked the money of some investors spread panic among the community. Many traders fear that they wouldn’t be able to get their money back after BitConnet, a coin exchange server, shut down earlier in January.

“Bitcoin and other cryptocurrencies are speculative and risky, they are not worth the investment,” slammed the crypto world UBS chairman, Axel Weber, during the World Economic Forum in Davos, Switzerland. He pointed out that clients, who don’t fully understand these products should avoid them in order not to get “burnt”.

Another striking prognosis came from Bobby Lee, CEO of China’s first bitcoin exchange – BTCC. He thinks that the price of Bitcoin will hit the unbelievable $1 million over the next 20 years. “The milestone in the history of that cryptocurrency will be when it reaches $500 000. After that the road to $1 million will be short,” said Lee.