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Bitcoin price on $467,000 level is possible according to Raoul Pau

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Raould Pal, CEO of Real Vision, says that the price of bitcoin in the long term could rise up to $467,000. He is not alone, as such forecasts have already been made by Mark Yusko among others.

bitcoin predictions

Will bitcoin become ecosystem?

At this point, bitcoin costs about $9,700 and investors such as Max Keiser and Mark Yusko believe that the price of bitcoin could reach half a million dollars in the long term for two simple reasons. One is that bitcoin will overtake gold, and the other is that bitcoin will operate in a strong ecosystem. 

If it becomes an ecosystem, and we believe it will be and it will take the whole ecosystem with it as well, then yes, I think a $10 trillion number is easily achievable within that process.

, Pal said

According to CoinMarketCap, Bitcoin's current market cap is $177 billion. This is only a fraction of the market capitalisation of gold, which is $8 trillion, 2.2% to be exact. This shows that Bitcoin is still developing and far before it catches up with the gold.

Bitcoin vs traditional assets. Source: Why will Bitcoin compete with gold?

An increasing number of investors and institutions are looking for alternatives to hold their assets. The aggressive policy of the U.S. Federal Reserve raises concerns about the future of American stock market, so people are looking for other ways to protect their money.

Investors fear that the constant printing of large amounts of money by the Fed will devalue the dollar.

Earlier this week Paul Tudor Jones, one of the leading hedge fund managers in the United States, said he is investing at least 1% of his portfolio in Bitcoin as a hedge against inflation.

Veterans like Peter Schiff say that gold is the best hedge against market volatility, and while that's true, it has some limitations that Bitcoin doesn't have.

By its very nature, Bitcoin is a blockchain network that is run by node operators, miners and developers. This makes it fast and easy to send transactions in the Bitcoin network as opposed to gold, which has physical transport restrictions.

In a recently published essay, CEO Xapo Wences Casares advised that medium and large portfolios should have any funds located in Bitcoin

In the long run, Casares said that if at least 3 billion people start using bitcoin, its price will rise to a million dollars.

My preferred way of guessing how the price of Bitcoin may evolve is much more prosaic. I have noticed over time that the price of Bitcoin fluctuates around $7,000 x how many people own bitcoins. So if that constant maintains and if 3 billion people ever own Bitcoin it would be worth ~ $21 trillion (~ $7,000 x 3 billion) or $1 million per Bitcoin.

, Casares said

Predictions of $500,000 to $1 million are for a situation where Bitcoin is placed as an asset right next to gold and people use it on a daily basis to transfer value.

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