“Like gold” … Bitcoin could cross the million dollar mark within years

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On Tuesday, Bitcoin broke a new barrier, setting a record above $ 62,000, rising by 114 percent since the beginning of 2021.

Numerous economic reports expect the price of this cryptocurrency to rise above the $ 100,000 per unit bitcoin, and build new support levels above this price, while others predict that its price will rise above $ 1 million in the medium term.

Robert Kiyosaki, author of “Rich Dad and Poor Dad,” which is considered one of the best-selling books, expects that its price will reach more than $ 1.2 million within 5 years, indicating that he bought a number of them when their price was 9 thousand dollars.According to a report published by “Bitcoin.com”, Kiyosaki predicted in December of 2020 that the price of Bitcoin would exceed $ 50,000 in 2021.

Although the price of Bitcoin exceeded $ 60,000, Kiyosaki sees it as an investment opportunity, as it has become an important investment vessel similar to the importance of gold.

The Egyptian economist, Wael Nahhas, told Al-Hurra that it is not surprising that Bitcoin will reach levels above a million dollars over the next decade.He pointed out that many countries around the world found that fighting Bitcoin would be futile, and for this they began to introduce it into their economic system, while different countries began to create their own cryptocurrency.

Nahas stated that Bitcoin has become an investment base, in which the investor, whether an individual, companies or investment funds, can divide and benefit from it, as the number will remain limited, but its value will double.

How to pay with Bitcoin?
It is expected that this currency will penetrate the $ 65,000 barrier next summer, and end the year at a price that exceeds $ 165,000, after which price jumps will be at rates of $ 20,000, and within 5 to 10 years its price will be more than $ 1 million.

CFI Group financial analyst, Muhannad Erekat, was more conservative when speaking to Al-Hurra about his expectations that its prices will be above one million dollars in the medium term.

It seems that the penetration of the price of the cryptocurrency bitcoin on the price of 60 thousand dollars during the last period will not be the highest price for it during the year 2021, as it is expected that it will reach the levels of 100 thousand dollars during the summer.
Erekat agrees with expectations that its price could reach $ 70,000 in the coming months.

He explained that cryptocurrencies have prompted some countries to conduct actual experiments to launch digital currencies issued by central banks, which will operate under the control of the authorities, unlike what the cryptocurrencies are based on.

He stressed that although it is still prohibited in many countries and is being fought by central banks, Bitcoin will find itself a more comprehensive and agile payment system in dealing with fluctuations in the global economy.

In Egypt, the Central Bank repeated its warning against dealing in Bitcoin, considering it banned in the country, because it is not subject to control and its volatility is dangerous.

A report issued by one of the “Wall Street” giants, Bank of New York Mellon Corporation “BNY”, expects that this currency will achieve levels in which it breaks the $ 100,000 barrier, and will build new support levels by next July, according to a report published by Forbes magazine.

The report “BNY” indicates that despite the defects that damage the prices of the currency of Bitcoin, but that the model analysis of “prices based on the ratio of stock to flows from the cryptocurrency” is adopted in order to predict the price of this currency.

Bitcoin continues to achieve record increases, and its value has tripled in recent months, as its price was only $ 20,000 in mid-December, according to Agence France-Presse.





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