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

Libra Coin News
Thu, 09/05/2019 - 06:00
Alex Dovbnya
ShapeShift CEO Erik Voorhees took to Twitter to publish this uber-bullish Bitcoin price prediction
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.

Related
Venture Capitalist Fred Wilson Calls Bitcoin "Digital Gold," but Turns His Back on Ethereum

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.”

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.


This site uses cookies for different purposes. Please set your preferences in Consent Settings and visit our Cookie Policy for more information on how and why cookies are used on this site.

Cookie policy