Many traders and analysts use different models to determine the future Bitcoin price. Yesterday we’ve presented the model of PlanB, the looks with its Stock-to-Flow approach to Bitcoin after the Halvening at $50,000.
Some projections have more or less of the predictions, even if such sums appear, for the Moment, absurd. One should not forget that some of the year, almost nobody has believed that Bitcoin could have reached its current value of over $ 10,000,.
Back to the future: Bitcoin price over $100,000
Speculative price projections always attract a lot of attention. In the last two years, ranging from a Crash to a Million dollars. The most recent analysis is by Harold Christopher Burger, which dealt with the natural, long-term Power-Law-the corridor of growth of Bitcoin, as seen in the following Tweet:
Bitcoin’s the natural long-term power-law corridor of growth by @hcburger1 https://t.co/I4AvUL3Lxz
— Erik Voorhees (@Erik Voorhees) 5. September 2019
Price forecasts tend to follow the historical market situation. In the year 2017, everyone was sure that Bitcoin to the Moon is rising and the only Problem was that you had to determine the color of his Lambos.
By the end of 2018, the world looked different and the critics entered the stage to refer to Bitcoin as the epic bubble that is now about to break up. Beginning in 2019, the Situation calmed down, at least after Bitcoin has risen more than 250 percent.
The history on the ten-year development of Bitcoin can give an indication of its future course, and that’s exactly what the Analyst. He has found that the price development of Bitcoin can be understood that you will move within a corridor, through two time-dependent power laws is defined. With this model, two predictions:
“The price will reach $ 100,000 a Bitcoin not earlier than 2021, and not later than 2028. After 2028, the price will never fall again under 100,000$.“
The other forecast, which is still fails extreme as follows:
“The price will not reach 1.000.000.000 $ per Bitcoin earlier than 2028 and no later than 2037. After 2037, the price will never fall below 1.000.000.000$.“
This price corridor was split wide in two-band, a at the lower end and the upper end of the price forecasts. The BTC price has spent in each Band, the same time, suggesting that further large Boom and Bust cycles are to be expected.
The analysis also declares that Bitcoin has gone through within a few years, many orders of magnitude. Logarithmic scales are preferred averaging while, compared to linear scales, which also illustrates PlanB in its analysis, as the logarithmic scales to represent the price development is much better.
Text evidence: bitcoinis, Martin Young