This Wrapped Bitcoin price prediction shows that the opinion of respected crypto experts and technical-based analysis combined predict that the long-term forecast of WBTC has the potential to reach anywhere up to and over $300,000 between now and the year 2025. To avoid missing out on potential upcoming price surges in the cryptocurrency market, check out our easy-to-follow article on how to buy WBTC crypto.
“Bitcoin has no physical form – it technically exists online as a complete digital asset. If you do see it, it is in the form of lines of code in an alphanumeric string. But the bottom line is, it is a store of value void of manipulation by the government.”― Olawale Daniel
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When it comes to some of the best performing and most well-known cryptocurrencies around, Bitcoin easily takes place. On the topic of blockchains, Ethereum arguably leads the way. Both of these crypto powerhouses have an abundance of individual advantages.
It was only a matter of time until one innovative crypto project came along to allow users to take advantage of the benefits of Ethereum and Bitcoin collectively. That project is known as Wrapped Bitcoin.
Wrapped Bitcoin allows BTC holders to integrate themselves into the advantageous realm of Ethereum wallets, decentralized apps, and smart contracts. As a result, it has seen a tremendous boost in popularity despite only coming along in 2019.
But are you wondering if it’s too late to start investing in Wrapped Bitcoin? You’re not alone, many people are curious about whether investing now is a good idea. I was one of those people until I began to use a range of factors to research the future price of WBTC such as:
- Price history
- The latest legislation
- Prediction strategies
- Expert analysis
- New investors
By analyzing all of these factors, I was able to find out that there’s never a bad time to invest in Wrapped Bitcoin. For example, statistics from the leading trading platform of eToro tell us that sales have skyrocketed in the past few months, demonstrating that demand is very high.
But what does the future hold for investors who get on board now? Will it rise even further? Our Wrapped Bitcoin price prediction aims to answer all. But first, let’s start with just what this Bitcoin spin-off is and how it works.
Wrapped Bitcoin explained
The crypto project of Wrapped Bitcoin first hit the scene in late January 2019. It was unique in the sense that it was a joint creation of three crypto organizations combined: BitGo, Kyber Network, and Ren. But what exactly is it?
Put simply, Wrapped Bitcoin is an ERC-20 token that is backed 1:1 with the underlying asset of Bitcoin (BTC). Running on the Ethereum blockchain, it allows those who hold Bitcoin to get involved with the wallets, smart contracts, and dApps that are characteristic of the Ethereum blockchain.
Pegged to the value of BTC, Wrapped Bitcoin can be exchanged for 1 Bitcoin and vice versa. Allowing BTC users to take advantage of the numerous benefits of the Ethereum blockchain such as smart contracts and decentralized finance “DeFi” apps.
Overall, Wrapped Bitcoin can boast an enormous range of benefits for its users. From faster transactions at a cheaper cost to providing the ability to get involved with decentralized applications, it is essentially a major upgrade of the Ethereum blockchain.
Pros and cons of WBTC
Like any decentralized project, Wrapped Bitcoin has its fair share of incredible pros and limiting cons. We always aim for transparency in our articles. So in this section, we’re going to cover some of the most important pros and cons of the platform.
|✔️ WBTC is backed by the value of the original Bitcoin in a 1:1 ratio||❌ It faces stumbling blocks when it comes to efficiency in wrapping|
|✔️ Allows for a range of different cryptocurrencies to be invested in decentralized apps|
|✔️ Provides a convenient and unique link between Bitcoin and Ethereum-based DApps which dominate the DeFi space|
Frequently asked questions about Wrapped Bitcoin
Do you still have questions about Wrapped Bitcoin? Rest assured, before we get into the price prediction, next we’ll cover some frequently asked questions about WBTC to give you a better understanding of the original digital asset and its price potential.
Who uses Wrapped Bitcoin?
Wrapped Bitcoin is used by crypto users who wish to take advantage of the numerous benefits of both Bitcoin and the Ethereum blockchain at the same time. Additionally, it is used by those looking to speculate on the price of BTC whilst making their investment work for them via their involvement in smart contracts and DeFi apps.
How does Wrapped Bitcoin (WBTC) gain value?
Like most cryptocurrencies, the value of WBTC is largely driven by speculation in its current state. As more people discover the wide range of its uses, its value grows. Due to its innovative nature and continuous growth of significant partnerships with businesses looking to integrate with blockchain technology, support for Wrapped Bitcoin is only expected to grow as cryptocurrencies become a more widely accepted alternative to fiat currencies. When it does, the value will likely grow in sync.
Can WBTC reach $100,000 per token?
Based on its recent price surges and innovative nature of being a cryptocurrency pegged to the original digital asset of Bitcoin, it’s possible that WBTC could hit the $100,000 milestone sometime in the long term.
Where do people buy, sell, and trade Wrapped Bitcoin?
Experienced crypto users can buy, sell, and trade WBTC from several crypto exchanges. However, if you are a new investor, then we suggest using a brokerage like eToro. It’s safe, regulated, and beginner-friendly. The eToro interface is very simple to use, and it has an array of trading tools to allow you to trade safely.
The price history of Wrapped BTC
To get an accurate insight into any crypto price prediction, it’s important to delve into its price history. Whilst it is pegged to the price of Bitcoin, WBTC only came along in 2019. Although its price history is short, it is nonetheless a wild ride!
WBTC hit the scene just as Bitcoin began to break out of a bear market in early 2019. The price of Wrapped Bitcoin began to rally to between $10,000 and $14,000 before dropping back down to $6,500 the next month. In early 2020, it was hit by the effect of the Black Thursday crash and dropped down to $4,000. However, the devastating impact of the Covid-19 pandemic resulted in a positive impact on Wrapped Bitcoin.
The subsequent lockdowns saw many people stuck at home with equal numbers out of work. With an incentive to make smart investments, many began looking at cryptocurrency. The introduction of stimulus cheques in the United States and similar schemes by other western countries inflated fiat currency and gave many people surplus cash to invest.
As a result, 2021 saw the digital asset rally to its highest price ever with Wrapped Bitcoin crossing the $65,000 mark. This made people rich beyond their wildest dreams, particularly the early investors who held on for long enough. Combined with the announcement of the support of institutional investors like Elon Musk, the price history of Bitcoin and Wrapped Bitcoin is a wild ride that demonstrates just how volatile this digital currency is.
Expert analysis of the Wrapped Bitcoin price potential
One of the best tools we can use to try and determine the potential future price of Wrapped Bitcoin is to analyze the opinions of various crypto experts. Let’s delve into three estimated growth outlooks for various industry experts and analysts.
WalletInvestor uses an algorithm-based forecast in an attempt to predict the future price of cryptocurrencies. When it comes to WBTC, they are bullish. Over the long term, WalletInvestor predicts that the price could reach somewhere around $93,416 by the end of this year and $237,720 by the end of 2025.
DigitalCoinPrice is fairly bullish on its Wrapped Bitcoin outlook and expects the price to gradually increase over the long term. DigitalCoinPrice predicts it to reach $75,877 by the end of 2021, $99,752 by the end of 2023, and finally, a figure of $168,784 by 2025.
Another rather bullish expert analysis on WBTC is PricePrediction.net. They predict the price of Wrapped Bitcoin in 2021 to potentially reach up to $63,474.19 by the end of the year. By the end of 2023, they expect it to reach $152,994.60. By 2025, they expect the price to reach somewhere around $323,909.69.
So from well over its current $57,000 mark in the short term and up to $323,000 in the long term, the overall expert analysis on the future price of Wrapped Bitcoin is overwhelmingly bullish with some potentially lucrative returns in store for investors. But what does the technical analysis tell us about the price potential of this BTC spin-off?
Technical analysis of the WBTC price potential
Now we move on to technical analysis to try and predict the future price of WBTC. This section will utilize powerful tools like the Japanese candlestick, chart patterns, and trading indicators. As well as giving traders the upper hand in day trading, they can enable us to discover long-term price predictions based on pure technicals when we assess longer time frames.
Wrapped Bitcoin Price Prediction 2021 – 2022
It’s predicted that by the end of 2021, the price of Wrapped Bitcoin could reach a potential price of between $56,421.50 and $63,474.19.
Wrapped Bitcoin Price Prediction 2022 – 2023
It’s predicted that by the end of 2022, the price of Wrapped Bitcoin could reach a potential price of between $87,453.26 and $104,217.71.
Wrapped Bitcoin Price Prediction 2023 – 2024
After possibly starting the year at over $100,000 it’s predicted that by the end of 2023, the price of Wrapped Bitcoin could reach a potential price of between $125,404.55 and $152,994.60.
Wrapped Bitcoin Price Prediction 2024 – 2025
It’s predicted that by the end of 2024 and the start of 2025, the price of Wrapped Bitcoin could reach a potential price of between $184,120.70 and $219,678.10.
In summary, Wrapped Bitcoin has proved itself to be an innovative addition to the crypto sphere despite being a relative newcomer. It allows users to take advantage of the numerous benefits of both BTC and the Ethereum blockchain with additional bonuses of lower fees, faster transactions, and the ability to get in involved with things like dApps and smart contracts.
As a result, WBTC has seen growing popularity amongst crypto users. Particularly amongst those who want to speculate on the price of BTC, which it is pegged to, whilst getting the advantages of the Ethereum blockchain.
Whilst many people can see the significant potential in Wrapped Bitcoin, there is a significant number of people who are wondering where to invest in this innovative investment for the long term. The answer lies in a reputable and well-established trading exchange with access to vital trading tools like eToro.
Where to buy Wrapped Bitcoin?
When it comes to investing in cryptocurrency, major exchanges are better reserved for the more experienced trader. For beginners, it’s recommended to use a trusted brokerage like eToro. This is a well-established, highly regulated, and secure platform that has the potential to revolutionize your crypto trading.
What’s more, is that eToro allows you to access their incredible array of trading tools such as the Stop Loss, Take Profit, and built-in charting software that all let you maximize your potential profits whilst ensuring safe trading practices that protect your hard-earned funds. Also, eToro offers Leverage Trading on crypto. This allows you to multiply small amounts to become large powerful positions that drive massive profits.
Overall, the financial situation, risk tolerance, and investment strategy of each person vary. Crypto is inherently volatile and the price can rise or drop at a moment’s notice, this brings advantages as it does risks. Both of which are important to understand and weigh against your own investment goals and needs. Only invest money you can afford to lose and balance out the risky nature of crypto investment by building a diversified portfolio.
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Disclaimer – This content is for informational purposes only and is not investment advice. The trading of crypto and other alternative cryptocurrencies has potential rewards, and it also has potential risks involved. Trading may not be suitable for all people. Anyone wishing to invest should seek his or her own independent financial or professional advice.