Bitcoin, the most popular cryptocurrency by market capitalization may have had an unimpressive performance in the past months, but analysts have not been sidetracked. The latest prediction is from Josh Rager, a cryptoanalyst & adviser at TokenBacon and BlackWave said, ‘this could be people’s last opportunity to buy one bitcoin at present price.’
Buy Now, Or Regret Later
According to Rager, this could be the final chance people have to buy an entire Bitcoin. In his opinion, only a fraction of the virtual currency will be affordable after 2021. The analyst attributed this to the fact that an increase in the global income per household may indirectly influence bitcoin’s price thereby making it unaffordable to most people.
Alternatively, Rager believes that in the short term, bitcoin’s price may go lower and even as low as $1,200 to $1,800 before it spikes. However, in the long run, the digital asset will exhibit the behaviour it did in time past. The latter was backed up with a chart showing the future speculative trend of the virtual asset.
This "could be" the last time the general population can afford to buy an entire $BTC
After 2021 – Bitcoin could move to a market price where most will only buy fractions
— Josh Rager 📈 (@Josh_Rager) February 11, 2019
The Community’s Response
Rager’s tweet which got 229 retweets and 647 likes as at press time, garnered the attention of other cryptocurrency analysts and generally, enthusiasts. A user, for instance, was quick to note that if bitcoin goes as low as $1,000, then it will still be more affordable than it is presently.
The crypto analyst who responded to the tweet said it was just an example to show people how bitcoin’s price will look like in the next few years. This is a price range that even the average person will be unable to afford.
Another user also pointed out that each cycle before bitcoin reached its all-time high is longer than the last. Therefore, it may take longer for bitcoin to attain a new all-time high and probably around 2022 to 2023.
Others With Same Vision
Before Rager’s tweet, another cryptoanalyst, The Crypto Dog also posted a message that is similar to Rager’s. According to the enthusiast, the economic value of bitcoin which made actors pump it to its highest price levels has not changed. As such, what’s the probability that this will not happen again?
Bitcoin holds the same economic properties that have allowed actors to pump it to astronomical levels 4 or 5 times now.
Can anyone provide a rational argument why this will not happen again?
— The Crypto Dog📈 (@TheCryptoDog) July 29, 2018
On February 14, BTCNN also informed of Mike Novogratz, a former Goldman Sachs partner prediction that bitcoin will gradually move to $8,000 in 2019. He also added that we are at the stage of institutional adoption given that the retail frenzy in the market has been washed out.