Bitcoin price to reach $ 400,000 in 10 years, analysts report

A new report by a research group studying the cryptocurrency market provides a prediction thatover the next ten years, the price of bitcoin may approach $ 400,000, and altcoins will also significantly increase the price.

According to the June Crypto Research ReportIn 2020, researchers predicted that the price of bitcoin and other altcoins - Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH) and Stellar (XLM), will start to rise sharply until 2025, and this can last at least five years.

"We believe that Bitcoin is at the very beginning of its adoption curve," he said.- said in the report.

"The price of $7,200 at the end of 2019 saysthat BTC is present in less than 0.44% of all $212 trillion markets.If that penetration reaches 10 percent, its undiscounted value should be nearly $400,000."

</p>

This will mean an increase in BTC prices by 2030.more than 4000%, in this scenario, ETH, LTC and BCH also look optimistic, showing an increase of 1600%, 5000% and 5400%, respectively. Nevertheless, XLM will show the greatest growth - more than 11,000% from $ 0.07 to $ 7.81.

Liechtenstein Study Groupanalyzed cryptocurrencies based on their target market (TAM), a metric used "to assess the estimated future price of a crypto asset." TAMs for cryptocurrencies include:

• Money transfers,
• tax avoidance,
• offshore accounts
• accumulation of funds
• online transactions
• micropayments
• cryptocurrency
• online gambling
• consumer loans
• reserve currency and others.

The document also marked on-chain andoff-chain indicators of altcoins, on the basis of which it was concluded that "the growth in the number of speculative transactions on exchanges is faster than the growth of utility transactions for the purchase of goods and services."

“Onchain Speed” is a measure oftransactions on the blockchain, and “off-chain speed” is determined by trading activity on crypto exchanges. Analyzing bitcoin, the researchers found that the price of cryptocurrency and the activity of its use on exchanges grew at about the same time.

</p>

"If cryptocurrencies are applied for long-term accumulation or short-term speculation, the price of the cryptocurrency will begrow- the document says.

The high speed of on-chain and off-chain will suggest that crypto assets are more often used for speculation rather than for storing value."

Rate this publication