By
Godfrey Benjamin
April 20th, 2024
Currently, Bitcoin is trading at $9,107.86. The prognosis by Crypto Research Report implies a price increase of more than 3,500% for BTC by 2030.
Crypto Research Report, a company that focuses on crypto-assets studies, has released its June 2020 edition. There, Crypto Research Report shared its vision of valuation of major altcoins, including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), and Stellar (XLM).
And the prognosis the analysts give for crypto prices are dazzling. For example, for Bitcoin, Crypto Research Report predicts around $400,000 in just ten years.
According to the analysts, Bitcoin is currently at the very beginning of mass adoption. Such an outcome can be made from 0.44% investment with a $212 trillion general volume of the target market. If the depth of investment reaches 10%, Bitcoin has all chances to reach $400,000 by 2030.
Currently, Bitcoin is trading at $9,107.86. The prognosis by Crypto Research Report implies a price increase of more than 3,500% for BTC by 2030.
Crypto Research Report wrote:
“We believe that Bitcoin is still at the very start of its adoption curve. The price of $7,200 at the end of 2019 suggests that Bitcoin has penetrated less than 0.44% of its total addressable markets [worth $212 trillion]. If this penetration manages to reach 10%, its non-discounted utility price should reach nearly $400,000.”
The firm further added:
“One of the main reasons for Bitcoin’s success and popularity, is its trustless design. Instead of trusting humans with clearance and settlement of financial transactions, Bitcoiners opt to trust software protocols. What was particularly revolutionary about Bitcoin was how the network used proof-of-work to stop double-spending attacks and how anyone around the world could validate new transactions and store a copy of the database’s history.”
Besides, Crypto Research Report says that ETH, LTC, and BCH are also looking bullish in this scenario. All the three assets would surge by about 1,600%, 5,000%, and 5,400%, respectively. However, XLM would see the largest increase: more than 11,000% from $0.06 to $7.81.
Bitcoin Mass Adoption and Big Price Assumptions
More and more people are getting interested in Bitcoin and try to get a deeper knowledge of the coin’s nature. Besides, many investors prefer Bitcoin to other less expensive cryptos, believing in its huge potential. For example, Bitcoin has dethroned XRP in terms of popularity among Japanese cryptocurrency investors and enthusiasts. Its market share in Japan is 51.36% against 27.54% of XRP.
Many are optimistic about Bitcoin’s price, and some predictions are really brave. Among the latest and most notable ones are $533,431 in August 2021 that Pantera Capital Founder and CEO predicts and Raoul Pal’s $467,000.
The Messari crypto research firm has made a more down-to-earth assumption. The company predicted that Bitcoin could rise to $50,000 in the coming years on condition that institutions invest a low-single-digit portfolio percentage to BTC.