Going by the prediction of the CEO of ShapeShift that the market capitalization of global cryptocurrency market may grow by ten times in the next four years, we may see Bitcoin price going over $10,000 by 2021 if the current top digital currency maintains its share of the market by then.Erik Voorhees predicts that the entirety of the token market, which as an asset class has surpassed $30 bln, would be worth more than $300 bln in the next four years.In response to a question on which is the most used token for something other than speculation, Voorhees cites Bitcoin.He says it is used “to send hundreds of millions of dollars all over the world instead of expensive and slow and censored bank networks.” , the market cap of all digital currencies as at Wednesday, April 26 stood at approximately $31.6 bln.Bitcoin’s dominance is put at 66.3 percent even as at the price of each unit hits $1,300.Tipping point According to the number of Bitcoins that will exist in the near future, there is likely be 19,031,250 units in circulation by the end of 2021.

If Bitcoin is still dominant with a 66 percent share, a projected $300 bln market cap will leave it at $198 bln.This gives us a projected Bitcoin price of $10,403.The World Economic Forum had suggested that a tipping point wherein 10 percent of global gross domestic product (GDP) would be stored on the Blockchain technology would occur around 2027 - though 58 percent of its study’s respondents expect it to have occurred by 2025.At around $20 bln, WEF puts the total worth of Bitcoin in the blockchain at about 0.025 percent of global GDP of around $80 tln.Unlike Voorhees’ view that remittance is playing a role in the token market, the international organization cites some impacts to be expected in the next four to 10 years.They include increased financial inclusion in emerging markets, as financial services on the Blockchain gain critical mass; disintermediation of financial institutions as new services and value exchanges are created directly on the Blockchain and an explosion in tradable assets “as all kinds of value exchange can be hosted on the Blockchain.” Username * First Name Last Name Email * Password * Repeat Password * You registration completed successfully.

Confirmation email sent to email address provided.Email * Password *Bitcoin's price has the potential to hit over $100,000 in 10 years, which would mark a 3,483 percent rise from its recent record high, an analyst who correctly predicted the cryptocurrency's rally this year told CNBC on Tuesday.In December, Saxo Bank published its annual report called "Outrageous Predictions" with one of the forecasts calling for bitcoin to hit $2,000 in 2017.bitcoin singapore redditAt the time the note was published, bitcoin was trading at around $754, so the target price represented a 165 percent rise.bitcoin marketplace cmsBitcoin hit $2,000 on May 20.food stamps bitcoinBut now, Kay Van-Petersen, the analyst behind the call, is looking long term and sees a big rise ahead for bitcoin.ethereal definition audio

How will bitcoin hit $100,000 Here's how he came up with his price target in 10 years.Van-Petersen is assuming cryptocurrencies in general – not just bitcoin – will account for 10 percent of the average daily volumes (ADV) of fiat currency trade in 10 years.Foreign exchange ADV currently stands at just over $5 trillion, according to the Bank for International Settlements.bitcoin is about to explodeTen percent of $5 trillion is $500 billion.litecoin transaction timeThis is the ADV that cryptocurrencies could have.will bitcoin go bustBitcoin will account for 35 percent of that market share, which would that $175 billion of the $500 billion figure, he said.bitcoin go bustThis would mean that $175 billion worth of bitcoin would be traded every day Also, Van-Petersen then implies that bitcoin's market capitalization would be ten times the average daily volume, giving a figure of $1.75 trillion for the market cap.dogecoin list

The current figure is around $37.8 billion, according to data from industry website CoinDesk.Bitcoin has a limited supply of 21 million which is expected to be reached by the year 2140.In 10 years, the analyst thinks that there will be 17 million bitcoin in circulation, up from the current 16.3 million figure.If the potential 17 million of bitcoins in supply is divided by the $1.75 trillion market cap estimate, then each bitcoin would be worth just over $100,000.Not a Scientific Survey.Results may not total 100% due to rounding.Bitcoin 'not a fad' Van-Petersen – who owns bitcoin – emphasizes that this is a rough calculation but that his growth predictions could be "conservative" given that in the year 2013 alone, bitcoin's price grew over 5,000 percent.The analyst said that cryptocurrencies will survive in the long run."This is not a fad, cryptocurrencies are here to stay," Van-Petersen told CNBC in a phone interview."There will emerge two to three main ones.Bitcoin will be one of those.

And the reason is the first-mover advantage, the scale and the pioneering."Van-Petersen's views are not the official view of Saxo Bank, the analyst said.Bitcoin's bad reputation The bitcoin industry has had its fair share of problems and reputational damage.The digital currency has often had an image of being used for illegal means such as buying drugs online.The collapse of Mt.Gox in 2014, once the world's largest bitcoin exchange, is still fresh in the minds of users.Some members of the exchange are still waiting for compensation.More recent issues include some exchanges not allowing people to withdraw their money in fiat currency.On top of this, the view of bitcoin as a currency for criminals is still prevalent after the major WannaCry ransomware cyberattack saw hackers lock peoples' files and ask for bitcoin in exchange to unlock them.Still, Van-Petersen says that the industry is still extremely young and big improvements will come.A few factors will boost bitcoin adoption including better wallets, easier methods to buy the digital currency, use of it for money transfers in areas like remittances, as well as citizens of countries with volatile economies and currencies buying it.