Bitcoin will cost $20,000 in 10 years - Charles Hoskinson, founder of Cardano

Bitcoin will return to the levels seen in 2017 in 10-11 years at the earliest, according to the founder of Cardano protocol Charles Hoskinson.

The market will eventually regain ground, but cryptocurrencies will be a completely different and much more mature ecosystem at that time.

 “It might take 11 years for us [the crypto industry] to recover back to where we were in 2017, but we will be a dramatically different ecosystem at that point. We'll have millions, perhaps even billions of users. We will be in many consumer products, be easy to use, [even] grandma can use it. A lot of the hard stuff will have been figured out. Like if somebody dies, how do we get their private keys, how do we handle taxes, all of the regulation will be done,” Hoskinson said in the interview with Cointelegraph.

He believes that the arrival of institutional investor interested in couples trading strategies and advanced instruments is a prerequisite for Bitcoin’s ecosystem development. It means that the developers of crypto projects should orient their roadmaps on serious long-term investors as Wall Street is looking for new derivatives, options, and instruments for short sales. 

Meanwhile, BTC/USD is changing hands at $3,565. The coins have barely changed since this time on Thursday; however, it is down nearly 4% since the beginning go the year, Bitcoin struggles to find a way above $3,600, which is a prerequisite for an extended recovery.