In spite of the recent trend of downfall in the cryptocurrency prices worldwide, talking to a recent podcast, the all-time famous Bitcoin enthusiast Mark Jeffrey is hopeful that in a few years time, bitcoin popularity will know no limits and it could reach to escalated heights in terms of price.
Talking to the next billion seconds podcast created by Mark Pesce’s, Jeffrey expressed hope that soon bitcoin will escape its current nuclear state.
He explains that the dawn of bitcoin is very similar to the initial days of the dot com industry, where when people are given new ideas to explore their investment options, they are attracted to the wide variety of options available, though the time frame is limited for crypto rather than the Dotcom industry.
He claims that bitcoin can go through the stages just like the dotcom industry of staying high, then steady and then the advent of multi-million dollar giants like Amazon and Facebook.
He has also predicted that the Bitcoin can reach all-time high values of up to two hundred and fifty thousand dollars ($250k), though the time frame needed to achieve this value is yet to be seen.
Jeffrey is not the not the only Bitcoin Guru making such statements. Speaking to a well-known media house, Tim Draper, a legendary bitcoin analyst has joined the bandwagon and believes that reaching the two hundred and fifty thousand dollars ($250k) mark may well be possible.
Draper explains that the current negative situation of bitcoin may be attributed to volatile market situations and that typically such new ventures do face these sorts of phases in the initial days. He is seeing that in times to come, worldwide currencies such as U.S dollars can lose their value rapidly creating an environment for bitcoin to strive. Crypto is not tied to any bank hence the effects of inflation and interest do not affect its progress.
Meanwhile, some may not be as optimistic about the future of Bitcoin. Nouriel Roubini has stated that eventually, the government made the bitcoin concept may eventually push itself to its own doom in the face of the established power of other currencies.