Bitcoin seems to be dancing to the tune of lullabies that jabbed it from the end of the United State government as the cryptocurrency makes an unexpected turnaround towards the floor after the US President issued out his antipathies for the digital asset class.
Howbeit this, some analysts and experts, in their sensation of the market behavior, thinks Bitcoin is just lowering its head for a massive charge and the path of the crypto coin to the ceiling has been yet defined.
Bitcoin made over 300% rise this year to become the most impressive asset in the year 2019. Despite the pull back, Bitcoin still presents over 300% rise from its bottom value – $3,100.
In the real sense, Bitcoin and blockchain has come to stay. Its wave has been felt in the nooks and cranny of every sector around the world, more importantly the finance industry. Bitcoin has an assets is known to be associated with a flip-flop growth, hence, alternate upgrowth and downfall is inevitable.
In the event of history, Bitcoin has only been unproductive or unrewarding for 3 month since its creation (over 10 years). How then can one class such asset as nonentity?
In the year 2019, crypto assets got more exposure from top companies around the world as they fear being left behind.
Before and during the present market wake from slumber which begun around April 2019, enthusiasts and analysts in the space vented their predictions for Bitcoin price. The forecast ranged from $10,000, to $50,000, $100,000, and $1 million from legendary John McAfee.
Bitcoin’s Pathway to $100K, $1M and $10M
However, no one has yet made $10 million prediction for Bitcoin until Plan B, a qualitative analyst, on twitter captioned Bitcoin’s pathway from above $0 in 2010 to $10 million around 2028 or later in a chart he deciphered.
Although, tagged the chart ‘Bitcoin’s Path to $1mln’, the analyst revealed in his tweet that Bitcoin could be going up to $10M by 2028+.
“This is becoming scary: using Oct instead of Dec data, Stock-to-Flow model fit improves to 99.5% R2! Model error was mainly caused by Nov2013 and Dec2017 ATH, so sampling without ATH gives less noise. Predicted bitcoin prices increase: $100K (2020+), $1M (2024+), $10M (2028+)…,” Plan B stated.
Image Source: Twitter.
The analyst is known for plotting and predicting the value of assets like Gold, Silver and Bitcoin, among others with a stock-to-flow valuation model.
Bitcoin to $100,000 Prediction Feature Unveiled On American Exchange
In line with the belief that Bitcoin is lowering its head for a massive charge, an American exchange LedgerX unveiled a feature that allows users to bet by predicting if Bitcoin would be worth $100,000 by December 2020, Bloomberg said.
This is coming after the exchange in June secured an approval from the Commodity Futures Trading Commission to offer contracts to mom and pop investors.
“I understand $100,000 is a large number, but a lot of us who’ve been in this space remember Bitcoin at $1, and then it hit $10 and $100 and $10,000. A $100,000 contract doesn’t even make us blink,” the CEO of the exchange, Paul Chou in a statement declared.