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.
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.”