July 22, 2024

Charles Edwards: “Bitcoin will reach $ 100,000 in 5 years”

Asset manager Charles Edwards, using a rare indicator called Bitcoin Energy Value, predicted growthBitcoin prices up to $ 100,000 over five years.

The indicator monitors the price of bitcoin, using two metrics to determine the “value” - the hash of the network and the effectiveness of mining equipment.

“I predict Bitcoin will reach $100,000 infor 5 years. Given the performance of the Bitcoin Energy Value indicator, the price of the first cryptocurrency will increase 10 times within 5 years,” Edwards wrote on Twitter.

Asset Manager noted that over the past 5for years, the hashrate of the first cryptocurrency has grown exponentially, but if at the moment the growth of this indicator is about 135% per year, then by 2025 it will drop to 20% per year. The situation is similar with the efficiency of Bitcoin mining equipment: it also grew steadily, but the average annual growth of this indicator decreased from 400% to 50% last year.

“Given all of the above, we should expect the price of the first cryptocurrency to rise to $100,000 by 2025,” Edwards concluded.

The asset manager also suggested that in the long term, the BTC rate could reach $200,000.

The other day, Bank of England economist Peter Zimmerman said that the constant rise in the value of Bitcoin is gradually turning it into a store of value.