According to Telegaon’s BTC prediction, bitcoin could trade at $175,109.22 in 2030, and more than double by 2040 to a potential average of $353,429.23. The website’s bitcoin price prediction for 2050 suggested BTC could hit $646,234.22.  “Rumors of Russian mining bans, the effects of tapering programs and ongoing regulatory concerns in certain jurisdictions are currently taking more weight in trading and investment decisions than the underlying long-term fundamentals,” said Jason Deane, an analyst at digital asset research firm Quantum Economics. “There is just little reason to buy bitcoin now as the market is saturated with negative developments, not just specifically for the crypto industry, but also for the wider financial market as well,” Yuya Hasegawa, an analyst at Japanese crypto firm Bitbank, told CNBC via email.
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