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Sweeping Crypto Report Predicts Bitcoin (BTC) Rise to $397,000 – Here’s How Long It Could Take

by Daily Hodl Staff
June 27, 2020
in Altcoins, Bitcoin

A sweeping new report on the future of Bitcoin finds the leading cryptocurrency could rise to $397,000 – but it won’t happen overnight.

The latest analysis from the Liechtenstein-based Crypto Research Report, led by former cryptocurrency fund manager and Forbes 30 under 30 member Demelza Hays, assesses BTC based on its target addressable market (TAM). The term is used to describe the overall revenue opportunity for a given product or service.

The report assumes Bitcoin’s use as a currency will outshine altcoins such as Ethereum, Bitcoin Cash, and Litecoin in the long run, and the firm’s analysts say BTC is likely at the very start of its adoption curve, with major upside potential in the decade to come.

The firm says its analysis is based on modest market penetration assumptions, meaning the cryptocurrency will penetrate 10% of the entire target addressable market, which includes store of value, remittance, offshore deposits, gaming, online gambling, unbanked financial services, lending, micropayments, crypto trading, and more.

“The target addressable market for crypto assets is approximately $212 trillion. The largest use cases include medium of exchange including all global fiat currencies worth $126 trillion and consumer loans with a global value of $42 trillion.

If Bitcoin penetrated 10% of this market over the next ten years, each Bitcoin would be worth $397,000 in 2030.”

The report also analyzes Bitcoin’s transaction velocity, the state of privacy coins, and Tether’s impact on the price of BTC.

As for the altcoin market, the firm’s analysts look at the potential prices of four leading crypto assets over the next decade, forecasting Ethereum could hit $3,644 by 2030. The report shows Litecoin targeting $2,252, Bitcoin Cash aiming at $13,016, and Stellar targeting $7.81 in the same time frame.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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