A notable Bitcoin blogger and developer, Vinny Lingham, who correctly predicted the price movement and development outlook of Bitcoin for two years in early 2014, gaining many plaudits, has now released a new series of predictions for the currency, and they are markedly more bullish than his previous predictions. The first prediction is that Bitcoin’s value will increase by about $900 million per year over the next five years, which would be an average annual growth rate of around 20% from 2014 to 2019. That said, many foreign banks are investigating and using the Bitcoin Blockchain for innovating around their processes. Additionally, he highlights four new factors that he believes will lead to the price of Bitcoin significantly increasing: the proliferation in identified industrial use cases; a coming short-squeeze; a coming change in Bitcoin's rate of inflation; and a coming arms race whereby sovereign nations embark on a race to hold Bitcoin reserves, which he predicts will happen in 2017.
A notable Bitcoin blogger and developer, Vinny Lingham, who correctly predicted the price movement and development outlook of Bitcoin for two years in early 2014, gaining many plaudits, has now released a new series of predictions for the currency, and they are markedly more bullish than his previous predictions. The first prediction is that Bitcoin’s value will increase by about $900 million per year over the next five years, which would be an average annual growth rate of around 20% from 2014 to 2019. Additionally, he highlights four new factors that he believes will lead to the price of Bitcoin significantly increasing: the proliferation in identified industrial use cases; a coming short-squeeze; a coming change in Bitcoin's rate of inflation; and a coming arms race whereby sovereign nations embark on a race to hold Bitcoin reserves, which he predicts will happen in 2017.