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Bitcoin can cost 100,000 dollars in 10 years!
Analysts believe that Bitcoin has the potential to reach the price of 100,000 dollars in 10 years. If this happens, then the price increase relative to the recent record level will rise by 3483 percent. This optimistic forecast belongs to the same analyst who has already made fortunate predictions, saying that this year the crypto currency will "overtake" for $ 2,000!
How can bitcoin grow?
In December 2016, Saxo Bank published the annual Outrageous Prediction report, which predicted that in 2017 the value of Bitcoin would rise to $ 2,000. Recall that at the time of this publication Bitcoin cost about 754 dollars. This means that by May of the current year the growth of the crypto-currency amounted to about 165%.
And now, Kay Van-Petersen, the analyst behind this forecast, has made a new long-term forecast.
How will Bitcoin reach $ 100,000?
Here's how Kay Van Petersen justified his predictions.
First, he suggests that in the next 10 years not only Bitcoin, but also crypto-currencies in general will account for 10% of the average daily volume (ADV) of currency trading. According to the Bank for International Settlements, ADV currently stands at just over 5 trillion dollars. Ten percent of this amount is 500 billion.
These are only approximate average daily trading volumes that can receive crypto-currencies in the future. According to Van Petersen, Bitcoin's share from this volume will be 35%, which will amount to 175 billion dollars. This means that every day Bitcoin will be sold for $ 175 billion.
Secondly, Van Petersen believes that Bitcoin's market capitalization will be 10 times greater than the average daily trading volume for the crypto currency, which is $ 1.75 trillion of market capitalization. According to the data of the CoinDesk industry website, the current figure is about 37.8 billion US dollars.
The maximum number of Bitcoins can be 21 million coins. According to preliminary estimates, this figure will be reached in 2140. Given this pace, the analyst suggested that in 10 years, there will be 17 million Bitcoins in circulation. Recall that to date released 16.3 million Bitcoins.
Thus, if we divide the potential 17 million Bitcoins into a market capitalization of $ 1.75 trillion, each bitcoin will cost just over $ 100,000.
Analysts believe that Bitcoin has the potential to reach the price of 100,000 dollars in 10 years. If this happens, then the price increase relative to the recent record level will rise by 3483 percent. This optimistic forecast belongs to the same analyst who has already made fortunate predictions, saying that this year the crypto currency will "overtake" for $ 2,000!
How can bitcoin grow?
In December 2016, Saxo Bank published the annual Outrageous Prediction report, which predicted that in 2017 the value of Bitcoin would rise to $ 2,000. Recall that at the time of this publication Bitcoin cost about 754 dollars. This means that by May of the current year the growth of the crypto-currency amounted to about 165%.
And now, Kay Van-Petersen, the analyst behind this forecast, has made a new long-term forecast.
How will Bitcoin reach $ 100,000?
Here's how Kay Van Petersen justified his predictions.
First, he suggests that in the next 10 years not only Bitcoin, but also crypto-currencies in general will account for 10% of the average daily volume (ADV) of currency trading. According to the Bank for International Settlements, ADV currently stands at just over 5 trillion dollars. Ten percent of this amount is 500 billion.
These are only approximate average daily trading volumes that can receive crypto-currencies in the future. According to Van Petersen, Bitcoin's share from this volume will be 35%, which will amount to 175 billion dollars. This means that every day Bitcoin will be sold for $ 175 billion.
Secondly, Van Petersen believes that Bitcoin's market capitalization will be 10 times greater than the average daily trading volume for the crypto currency, which is $ 1.75 trillion of market capitalization. According to the data of the CoinDesk industry website, the current figure is about 37.8 billion US dollars.
The maximum number of Bitcoins can be 21 million coins. According to preliminary estimates, this figure will be reached in 2140. Given this pace, the analyst suggested that in 10 years, there will be 17 million Bitcoins in circulation. Recall that to date released 16.3 million Bitcoins.
Thus, if we divide the potential 17 million Bitcoins into a market capitalization of $ 1.75 trillion, each bitcoin will cost just over $ 100,000.
