Bitcoin price will reach $ 50,000 within 2-5 years

Blockstream CEO Adam Back posted a tweet presenting an optimistic view of the price.bitcoin.

According to his conservative forecast, Bitcoin will reach a market capitalization of $ 1 trillion by 2025, although this may happen earlier - in two years. In this case, the price of BTC will be $ 50,000.

Beck's tweet was a response to the cryptanalyst's reportfrom the investment company ARK Yasin Elmanjra, who in September predicted an increase in the market capitalization of bitcoin to $ 1-5 trillion no later than 2030.

Conservative. I’d say #bitcoin likely sees $1trillion market cap within 2 years, probably sooner. $1trillion is about BTC $50k. https://t.co/LJeq53DXgM

- Adam Back (@ adam3us) October 5, 2020

As of October 2020, the market capitalization of bitcoin exceeded $ 198 billion. For Beck's forecast to come true, the market must grow by 400% by 2022.

For reference, two years ago at the beginning of October 2018year that figure was $ 114 billion. Then BTC / USD traded at $ 6,600, two months before the bear market bottomed at $ 3,100.

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Many participants in the crypto spacesincerely believe in the benefits of a decentralized currency and expect the bitcoin price to rise. However, for their faith in such predictions, there is not enough explanation of how BTC can achieve such results.

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