Connect with us

Bitcoin

Bitcoin [BTC] predictions by top influencers – $250K by 2022, bullish all the way!

Kajal Bangera

Published

on

Bitcoin price prediction by influencers - $250K by 2022
Source: Flickr

Bitcoin grazed $8500 today at 11:20 UTC before retracing back to $8300 which is still at a 5% increase from yesterday. The current market cap of Bitcoin stands at $141 billion and dominates the market by 42%.

Despite the poor first quarter performance, everyone from influencers to investors and even skeptics feel that Bitcoin’s resilience to the massive regulatory crackdown and governmental pressure makes it a very stubborn digital currency which could propel prices with ten times more the intensity that was experienced towards the last leg of 2017 where Bitcoin peaked at $20K.

Following are predictions from various sources of importance in the order of predicted valuation:

  • Pantera Capital: They are an investment firm based out of San Francisco, CA focusing solely on virtual currencies and blockchain technology. Their prediction stands at Bitcoin – $20,000 within this year.
  • Thomas Lee, Co-Founder of Fundstrat Global: Wall Street investment specialists put Bitcoin at $25,000 within this year.
  • Anthony Pompliano: Predicts Bitcoin at $50,000 within this year.
  • Mike Dudas: The Co-founder of Button predicts Bitcoin to be $50,000 by next year.
  • Alistair Milne, CIO of Altana Digital Currency Fund: Based out of Monte-Carlo, Monaco, predicts Bitcoin around $35,000 – $60,000 by 2020 halving.
  • Tim Draper: Founder of DFJ Venture Capital, based out of Menlo Park, CA predicts Bitcoin at $250,000 by 2022.
  • Brian Kelly: CNBC Fast Money Trader and author of The Bitcoin Big Bang predicts Bitcoin at $250,000 by 2022.

A lot of analysts have predicted that Bitcoin could potentially see a massive bull run with Tax day concerns wearing off. Many from the community like Daniel Godhino, a Financial Advisor from Chicago feel that traditionalists who call Bitcoin a bubble would be living in a bubble themselves. He says,

“People who call Bitcoin a bubble are traditional, close-minded oldies who probably will not live past the next 10-20 years. The challenge was initially cross $1000, I think it will only be upwards from here. Looking back at history, we will be doing this same conversation when Bitcoin hits a peak at $100K and then probably retracing back to $50K and people crying that Bitcoin is a bubble”



Follow us on Telegram | Twitter | Facebook



Kajal Bangera is a part of the Editorial team from March 2018 at AMBCrypto. With a background in Journalism, she has been writing and researching about Blockchain technology and cryptocurrencies for a year. She has not held any value in Bitcoin or other currencies.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Bitcoin

‘Bitcoin [BTC] to hit $250,000 in four years’ – Says early internet investor Tim Draper

Ketaki Dixit

Published

on

'Bitcoin to Hit $250,000 in Four Years' - says early internet investor Tim Draper
Source: Public Domain Pictures

Tim Draper, the Founder of leading venture capital firms Draper Associates and DFJ, predicted in a recent debate that Bitcoin [BTC] could be worth $250,000 within four years.

He had earlier stated:

“In five years you are going to try to go buy coffee with fiat currency and they are going to laugh at you because you’re not using crypto.”

Draper also believes that there will be a point when people will no longer want fiat currency.

At an Intelligence Squared U.S. debate presented in partnership with Manhattan Institute’s Adam Smith Society, the early investor in Tesla, Hotmail, and Skype said that Bitcoin will be bigger than all his early investments combined.

He said:

loading…


“This is bigger than the internet. It’s bigger than the Iron Age, the Renaissance. It’s bigger than the Industrial Revolution. This affects the entire world and it’s going to be affected in a faster and more prevalent way than you ever imagined.”

In a U.S. Marshals Service auction in 2014, Draper bought nearly 30,000 Bitcoin tokens and is still holding them, according to CNBC.

Gillian Tett, the Managing Editor Financial Times was the opposition in the debate. He discussed the risks involved in Bitcoin investment and how volatile it is. However, Draper responded saying that he was more secure in Bitcoin than in the money in Wells Fargo.

Patrick Byrne, the CEO of Overstock.com was in favor of bitcoin. He said:

“This has been hacked at more than anything in history and has never been defeated. Last I checked, banks get hacked too. And yeah, Bitcoin is used by unsavory characters. Last I checked, they used U.S. dollars too.”

In December 2017, Byrne had considered selling his business to fund his new blockchain venture and is now working on reorganizing it.

Jayden, a market enthusiast tweeted:

“I mean I’m optimistic about crypto but this guy actually thinks Bitcoin will take over physical / tangible money. It won’t.”

A crypto enthusiast replied:

“Why not? Everything is digital now so a digital transfer of wealth seems pretty reasonable and where we’re headed, it’s just hard to grasp because we have grown our whole lives with physical money.”

Continue Reading

Bitcoin

Finland’s tax department – 30 Million Euros in the hole as thousands of Bitcoin [BTC] traders owe taxes

Aman Swami

Published

on

Finland's tax department 30 Million Euros in the hole as thousands of Bitcoin[BTC] traders owe taxes
Source: Pixabay

Finland’s government has revealed the number of taxpayers who owe taxes from Bitcoin-related income. The country’s Tax Administration claims to have different ways to combine information and identify people who owe taxes from crypto profits, which are now well over ten times higher than last year.

A lot of Finns have not reported income to the country’s tax department from the sale of cryptocurrencies in previous years, Kauppalehti newspaper reported last week. This year, the profits made by Finns from cryptocurrencies were well over ten times higher than last year, the news outlet added.

Senior Adviser from the Tax Administration’s Corporate Taxation Unit, Timo Puiro, says:

“Most of the people have previously failed to report their bitcoin-related income, which we have found when we compare the information we collect to the tax information reported…The Tax Administration has extensive access to information, for example, to payment information, and we have different ways to combine information and identify people.”

Metropolitan.fi reported, that the tax office has been given generous access to bank transfers and other data, which enables identifying people. By looking at the transfer records it is evident that in the past most citizens have not reported profits made with virtual currencies.

Finland’s cold weather and low-cost nuclear-based power is no stranger to Bitcoin mining. Both Bitfury and the now-defunct Kncminer have operated mining farms in the country. Today many smaller miners are still in business there. Other well-established crypto businesses are also located in the country, such as Localbitcoins and leading Nordic Bitcoin broker, Prasos.

loading…


This is not the first time Puiro spoke about identifying undeclared income by Finns. In December of last year, he said the government had been analyzing Bitcoin wallets for this purpose.

Puiro added:

“We have analyzed more than 10,000 bitcoin wallets over several years, and in more than 500 cases we have found undeclared income which is taxable,” he emphasized at the time, adding that “Finland’s tax authority has identified bitcoin as one of the ‘high-risk focus areas’ and is prepared to redirect resources to ensure nothing falls through the gaps,”

While only 500 people were identified in December, Kauppalehti quoted the Tax Administration Office revealing last week that 3,300 people have now been identified as owing taxes from crypto-related transactions, adding:

“The aggregate capital gain of the 3,300 persons identified will be about 100 million euros, so the taxpayers’ share of the pot would be around 30 million euros.”

Metropolitan.fi reported that Bitcoin gains are taxed as capital income in Finland. They are treated the same way as dividends, rent or other similar income. The capital income tax percentage in Finland is 30% (in 2018) for sums under 30,000 euro.

Puiro, in the last week, was seen saying, that he hopes those who have made a profit on cryptocurrencies will voluntarily declare the income to the tax authority. He emphasized that if taxpayers fail to report income related to cryptocurrencies, the criterion of criminal tax evasion may be fulfilled.

Continue Reading

Trending