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CoinMarketCap Daily, July 16: Bitcoin to Hit $300,000 By 2025?

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Published on:
July 16, 2021

While the short-term picture is looking gloomy for Bitcoin, some experts have really high hopes for the future.

CoinMarketCap Daily, July 16: Bitcoin to Hit $300,000 By 2025?

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More Pain for Bitcoin? 💔

Bitcoin is in danger of suffering its worst weekly close in almost two months. Data from Bybt shows the cryptocurrency has fallen by 8.61% so far in this seven-day period. If BTC slides any further from its current price point, the asset will be on course for its toughest week since May. The unlocking of Grayscale Bitcoin Trust shares is also worrying the market.


PayPal Relaxes Crypto Limits 💰

PayPal has announced that it will now allow customers in the U.S. to buy up to $100,000 in crypto per week. That’s a substantial increase from the $20,000-a-week limit that had been in force since the platform’s crypto service launched last October. It's hoped the change will give customers "more choice and flexibility." Square is launching a new crypto firm, too. 


Crypto Twitter Row Deepens 😬

Not everyone agrees with Jackson Palmer's blistering Twitter thread about crypto. DOGE's co-founder said the sector was right-wing, not decentralized, and controlled by a wealthy few. Coinbase CEO Brian Armstrong disagrees. While free markets can be messy, he added: "History shows they lead to better outcomes for everyone, even the poorest 10%." Read more.


BIG Bitcoin Prediction Made 😱

It seems many experts are bullish about Bitcoin's future. Some 54% of experts polled by Finder say BTC will become the dominant force in global finance by 2050. Meanwhile, 33% believe it will be the currency of choice in developing nations within 10 years. They also estimated BTC's price will have climbed to $318,417 by December 2025. Find out more.

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Connor Sephton

I cover the crazy world of crypto.

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