June 5, 2023

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

Asset Manager Charles Edwards, using a rare indicator called Bitcoin Energy Value, predicted growth Bitcoin 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 that Bitcoin will reach $ 100,000 infor 5 years. Given the performance of the Bitcoin Energy Value indicator, the rate of the first cryptocurrency will increase 10 times over 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, it is expected that the rate of the first cryptocurrency will grow to $ 100,000 by 2025,” Edwards concluded.

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

The other day, Bank of England economist Peter Zimmerman (Peter Zimmerman) said that the constant increase in the value of bitcoin is gradually turning it into a means of accumulation.