The crypto coin industry has been moving at a dizzying speed as of late, many trying to predict what the future holds. The best way to forecast is by looking at how technology has changed over the years. With that in mind, we’ve teamed up with Fortune magazine for their year-long series on “50 Years In Tech,” where we explore exactly what technology will look like 50 years from now. Dacc coin price prediction is a good starting point for the series.
The price of a bitcoin has increased significantly over the last eight years, from about $1 on 1 January 2009 to a high of just over $1,200 in December 2017. That puts the cryptocurrency’s price increase at more than 8,500%. But what will it be worth in 50 years? Some experts have their eyes on new technologies that could warrant a similar price appreciation in coming decades—or even longer.
Some see artificial intelligence as the next big driver of prices. The technology may not be quite as exciting as bitcoin or other cryptocurrencies yet, but some think it will still influence markets even more than they do now through its ability to automate many tasks once reserved for humans.
Now enter Fortune’s prediction for crypto coins: “Cryptocurrency will be so ubiquitous it will just be another digital asset.” That’s right; our digital currency could be another piece of data in your bank account.
1. Digital currencies will be worthless and obsolete
Just as fiat currency did in the 1970s, cryptocurrencies like bitcoin could fade from the financial landscape. In their current form, they could become useless forms of money if governments ever decide to outlaw them or if hackers are able to completely take control of their systems.
That’s why some financial experts think digital currency will be replaced by more convenient, practical versions. One of those concepts is called stable coin. Stable coins are pegged to the value of a major currency, mostly US dollars (like Tether) or euros (like Gemini). That means you can use them anywhere that accepts normal currency. And since the price isn’t likely to fluctuate, stable coins will be far more practical for everyday transactions.
2. The price of cryptocurrency will reach $1 million each
The current cryptocurrency market is worth around $450 billion, and many financial experts believe a single bitcoin will be worth $1 million in the future. But even though that prediction is solid, it’s based on the idea that all cryptocurrencies will grow exponentially in value and replace traditional currency entirely.
And while they may eventually become ubiquitous, bitcoin transactions are still very slow compared to traditional methods like credit cards or bank transfers. Plus cryptocurrencies aren’t backed by anything tangible (like gold). So even if they do become the global currency of the future, they’d have to be worth a lot more than $1 million each.
3. Crypto tokens will replace stocks and Bonds
One of the most useful uses for cryptocurrencies is as ownership stakes in various companies, allowing shareholders to participate in businesses even if their company’s stock can’t be bought on an exchange.
The transfer of those shares is called an initial coin offering (ICO), and it’s becoming increasingly popular as a means to raise capital. Increasingly, ICOs are being used to fund blockchain projects or other types of technologies—not just startups that make products or want to raise money.
4. The average household will own more than 1 BTC
According to a survey conducted by CoinDesk, the average American household owns less than a single bitcoin (about $6,000). But that’s likely to change in the next 50 years.
With more consumers willing to invest in cryptocurrency, that number will only increase and could one day rise as high as 1 BTC—or even surpass that number. That’s because younger Americans are more comfortable with the idea of owning digital currency and using it for everything from buying groceries to paying their rent.
5. Crypto coins will affect the economy more than ever
The Federal Reserve has already started to research the impact of cryptocurrency on the economy. In a recent interview with CNBC, Fed Chair Jerome Powell said that the digital currency could have an effect on monetary policy in coming years.
And while he didn’t think cryptocurrencies would replace dollars or gold, he said they could “change how we think about monetary policy in this country.” Whether or not that’s true remains to be seen, but one thing is certain: their influence will only grow as more people begin using them for day-to-day transactions. And many investors believe they’ll become even more important than stocks in the coming years.