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

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

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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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Bitcoin Price Likely to Decline to $7,800: Crypto Analyst

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    Bitcoin is to find support at $7,800 or recover to $8,300, an analyst writes, but either way ‘continuation of the ranging on either of the levels is going to occur’

Cover image via www.123rf.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Over the last few days, Bitcoin has been trading below the $8,500 area. At the moment, it has recovered to $8,258 after the recent slip below the $8,100 level.

Analysts have been bullish on BTC in the long run, however, the nearest BTC price movements are expected to be bearish.

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The crypto analyst @CryptoMichNL believes that there are two paths ahead of Bitcoin at the moment. If it fails to recover to $8,300, he says on his Twitter page, then the market should be ready for the flagship coin to drop and find support at the $7,800 or $7,300 levels.

Whichever way it goes, ‘continuation of the ranging on either of the levels is going to occur’.

The analyst tweeted this forecast twice with an hour pause.

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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