Crypto Research Report Predicts $397K Bitcoin Price by 2030
June 29, 2020 @ 17:04 +03:00
Researchers behind the June 2020 report from the Crypto Research Report used Bitcoin’s target addressable market to predict a rise to $397K. A new report from a crypto research group suggests that the price of Bitcoin could approach $400,000 in the next ten years, with altcoins following its bullish example.
According to the June 2020 edition of the Crypto Research Report, researchers predicted the price of Bitcoin (BTC) and other altcoins — Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), and Stellar (XLM) — would get a huge surge before 2025, which may continue for at least five years.
“We believe that Bitcoin is still at the very start of its adoption curve,” the report states. “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.”That would mean a price increase of more than 4,000% for BTC by 2030, but ETH, LTC, and BCH are also looking bullish in this scenario, with surges of roughly 1,600%, 5,000%, and 5,400%, respectively. However, XLM would see the largest increase: more than 11,000% from $0.07 to $7.81.
The Liechtenstein-based research group analyzed cryptocurrencies based on their target addressable market (TAM), a metric used “to estimate a cryptoasset’s implied future price.” According to the report, TAMs for cryptocurrencies include remittance, tax evasion, offshore accounts, store of value, online transactions, micropayments, crypto trading, gaming, online gambling, consumer loans, reserve currency, and others.
Crypto Research Report Predicts $397K Bitcoin Price by 2030, CoinTelegraph, Jun 29