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Analyst Predicts When Bitcoin Price Will Hit $100,000 Based on Power-Law Growth Model

  • Alex Dovbnya
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    ShapeShift CEO Erik Voorhees took to Twitter to publish this uber-bullish Bitcoin price prediction

Analyst Predicts When Bitcoin Price Will Hit $100,000 Based on Power-Law Growth Model
Cover image via www.freepik.com

It’s hard to grapple with a myriad of polarizing Bitcoin price predictions. There are even literal clairvoyants who offer their services to desperate investors.

Self-described Bitcoin optimist Harold Christopher Burger has joined the fray by suggesting that BTC’s price history can be understood with the help of a power-law corridor of growth.

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By using this model, he forecasts that the BTC price will not reach $100,000 by 2021 (sorry, John McAfee), but it will certainly get there after 2028 and will never go below this level. After that, Bitcoin will continue its incremental growth with $1 mln being the next target by 2037.

Notably, Burger states that these are rather conservative price predictions.

I am quite confident that in the long-term, the price will indeed evolve approximately as stated in this article. In fact, I think it is more likely for these predictions to be too low rather than too high.”

Despite the fact that the crypto market is gradually maturing, the model also shows that Bitcoin will remain a very volatile asset. 

“Bitcoin’s price spends about equal amounts of time in both bands. This implies that large bubbles and busts are likely to continue to exist.”

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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Ex-Congressman Says Fed Should Not Play With Own Cryptocurrency

  •  Denis Sinyavskiy
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    Former US Congressman Ron Paul shares his thoughts on the possible creation of Fed’s own cryptocurrency

Ex-Congressman Says Fed Should Not Play With Own Cryptocurrency
Cover image via www.123rf.com

Former US Congressman Ron Paul spoke on Fox Business and said that the Fed should not think about creating its own cryptocurrency.

Fed’s Crypto: To Be or Not To Be?

Rumors have been circulating for the past few months about the Fed possibly creating own cryptocurrency. It is expected that a digital coin would become a competitor to its counterparts on the market, and may even replace fiat money. President Patrick Harker, President of the Federal Reserve Bank of Philadelphia, commented on such rumors at a recent conference:

“It is inevitable. I think it is better for us to start getting our hands around it.”

However, there has not been no official follow-up by the Fed towards a crypto exchange. While proponents of this idea believe such innovation is necessary, it is expected that the exchange could stop the current delays involving US bank transfers.

What do the opponents think about the Fed's own cryptocurrency?

The idea of ​​creating the Fed's cryptocurrency has its opponents. This includes Ron Paul, who believes that the Fed is in a better position to stay away from digital coins and allow the private blockchain sector and payment platforms to resolve this discussion in real-time. What the Fed plans to do next is unclear, but the central bank may still enter the game.

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About the author

Starting with a simple interest in cryptocurrency, over the past two years, Denis has worked in a cryptocurrency fund and become an author with an analytical bias. His engineering degree helps with the analysis of the technical part of the cryptocurrency market. As a fan of cryptocurrency, Denis believes that the blockchain technology is the future.

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