Three wildly different price predictions for BTC, including one that puts it at $12.5 million by 2031.

Price predictions are funny. I find them entertaining and a solid hit of hopium when a prediction is near the moon. It's incredible how analysts have vastly different timelines for BTC and its growth. I wonder how all the "100k EOY" preachers felt when the date passed and their predictions went out the window. I guess they move the goalposts. Let's take a look at three predictions that were made on February 28th, 2022.

Robert Breedlove

• Point of View: Founder and CEO of the digital assets marketing and consulting firm Parallax Digital
• Prediction: $307,000 by October 2021 (now passed), and $12.5 million by 2031
• Why: Inflationary pressures after COVID-19 will drive interest in cryptocurrency, pushing the value of Bitcoin up higher than previous projections estimated, Breedlove said in an interview earlier this year. Known as more of a philosopher type among crypto enthusiasts, Breedlove speaks often about the broader social implications of crypto as a form of more transparent, decentralized currency — but his price predictions haven't exactly been spot-on.

Matthew Hyland

• Point of View: Technical analysis and blockchain data analyst
• Prediction: Bitcoin can reach $100,000 in 2022
• Why: The price of Bitcoin in January 2022 is almost equal to its price in January 2021, but there's a new demand for altcoins. There's also an ongoing trend of Bitcoin supply leaving major exchanges (presumably to be stored in offline crypto wallets) He also recently tweeted that a dip below $40,000 could lead to "free fall" into a Bitcoin bear market.

Ian Balina

• Point of View: Bitcoin investor and founder of crypto research and media company Token Metrics
• Prediction: Bitcoin can go to $100,000-$150,000, but the timeline is unclear
• Why: Bitcoin is in a bearish sentiment cycle, but the total crypto market and other crypto asset classes are not. Bitcoin was the first cryptocurrency, but now others have surpassed it in innovation when it comes to what experts call "Web 3" — aka the new internet built on blockchain. The release of new altcoins and hype about the metaverse will continue to drive the demand for crypto, and Bitcoin will therefore bounce back eventually.

Big financial institutions have made their own predictions, as well, with JPMorgan predicting a long-term high of $146,000 and Bloomberg predicting it could hit $400,000 if the currency climbs at rates comparable to the past.

I have been holding BTC since 2019 and accumulating through the years. My goal was to reassess in 2030, but it seems like waiting until 2031 is the best bet, lol.

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