The cryptocurrency market is very uncertain and everything in the market is really unpredictable, but now with the continuous price down in the value of Bitcoin, everyone is worried about the future aspect of the Bitcoin’s value. Analysts or experts in the cryptocurrency community are predicting the future price of the currency, they are assuring that the current price action of the market is temporary and bitcoin will achieve the value of $100,000 till 2028.
Many analysts in the market are coming up with their prediction about Bitcoin. On the other hand, self-proclaimed Bitcoin idealist named Harold Christopher Burger has also joined the conflict over the prediction of Bitcoin value and he suggested that the history of Bitcoin’s can be easily understood by the power-law model of growth.
He also said that John McAfee is wrong and Bitcoin value will not achieve the value of $100,000 by the year 2021 but Bitcoin will reach achieve this value around the time of 2028. Also, the bitcoin’s value will then stabilize itself around this value. Then the next aim of the bitcoin is to grow incremental towards the value of $1 million by the year 2037.
Burger also stated,
“I am quite confident that in the long-term, the price will indeed evolve approximately as stated in this article. In fact, I think it is more likely for these predictions to be too low rather too high.”
On the other hand, this power-law growth model also displays that the Bitcoin will stay with a lot of uncertainty in the market. The crypto market also will mature slowly. He further added,
“Bitcoin’s price spends about equal amounts of time in both hands. This implies that large bubbles and busts are likely to continue to exist.”
Now, we have to watch that who has predicted right about the value of the Bitcoin prediction and when will the currency touch the value of $100k.